Metaverse success starts with understanding Web3, here’s how

Monetizing Web3 projects requires a look beyond technical updates —a new team of experienced advisors helps businesses get off Web3 on the right foot.

From NFT profile images on Twitter to the major rebranding of Facebook to Meta, the pioneers of the corporate world are adopting Web3 at a mind-bending speed —and it’s not a futile effort. Analysts predict an $81.5 billion market for Web3 by 2030, and the business world has no intention to lag behind.

Sports, luxury, music and other industries also want to chip in, but keeping pace with such a fast-growing and tech-heavy trend proves a challenge for the majority. That’s because Web3 doesn’t end at blockchain, NFTs and the metaverse —it only starts with them.

Companies aiming to succeed at Web3 must first understand how such advanced technologies work. They need to embrace key concepts, namely decentralization and shared ownership, that make the third iteration of the World Wide Web so attractive. They need to ensure user security, data protection, and interoperability between different networks in Web3 to avoid making the headlines in an unwanted way.

Top-tier talent for Web3 is not an easy find

The lack of in-house talent to facilitate Web3 development is daunting, given there are less than 20,000 active Web3 developers worldwide. It only grows by the day across industries as more and more Web2 outfits look for ways to become players in the metaverse.

Web2 teams need a reliable strategy and a practical roadmap at the executive tier to realize the transition to Web3 as seamlessly as possible. And it needs to be backed up with end-to-end Web3 development and technical expertise at the operational level.

Ranking as a Top 10 Emerging Giants in the Asia Pacific by KPMG and HSBC, Catheon Gaming launched Catheon Labs to help companies establish a solid presence in Web3. Its experienced team seeks to share its blockchain, Web3, metaverse and NFT know-how via Catheon Labs’ consulting and publishing services.

Catheon Gaming accumulated a significant experience from a library of over 25 games with over 50 million downloads. Now, it combines technical talent with a business mindset to pinpoint the right opportunities with Catheon Labs’ consulting services to help companies get off Web3 on the right foot.

Web3 needs ‘3Es’ to work for all parties

Elements like digital ownership, gamification and play-to-earn turn Web3 into an enhanced and immersive experience for users when executed correctly. With the right help, Web3 projects can create new revenue streams by offering digitized assets like NFTs to a new user base and scaling their businesses in the metaverse.

According to Catheon Labs, those are the “3Es of Web3 framework” that includes Enhance Experience, Earn Revenues and Elevate Community. This 3E strategy helped Catheon to build one of the largest portfolios of Web3 games, form a community of millions of gamers and establish a team with world-class consulting experience and financial know-how.

Catheon Labs helped Hectorverse with prominent German soccer team Borussia Dortmund’s metaverse debut. It ensured the investor day of Dubai International Finance Center’s Fintech Hive was seamlessly hosted on the metaverse.

How to jump into Web3 with the right strategy

To meet the requirements of the evolving industry, Catheon Labs starts a project by evaluating the Web2 status of a project. The consulting team first understands the goals, available resources, and end users' expectations. Catheon Labs then creates a detailed strategic roadmap that includes immediate, short, medium and long-term plans.

The comprehensive roadmap includes elements like blockchain ticketing, NFT utilization, loyalty programs, gamification, metaverse and the ability to receive crypto payments to cover all possible fronts in the Web3 environment. Catheon Labs designs the strategy and the Web3 revenue model while engaging in marketing and community activities.

Following technical analysis and development processes, the consulting team helps with a seamless launch, concluding an effective migration from Web2 to Web3 across many industries.