The Future of Brand Loyalty with Tara Fung

Web3 Technology and Brand Relationships

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  Tara Fung highlights the potential of web3 technology to enable greater ownership and interoperability of digital assets, allowing brands to build closer relationships with their communities.
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  Tara Fung's unconventional background and curiosity led her to explore emerging technologies and eventually start co-create.
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  Web 3 is about ownership, enabling brands to have direct ownership and relationships with their communities, moving away from the middlemen like Facebook and Google.
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  In web2 loyalty programs, customers don't actually own their loyalty, but in web3, they have the ability to own their digital assets and disengage with brands if they choose to.
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  Web 3 has the power to create positive brand outcomes, not just exciting consumer outcomes.
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  "I think that individuals will have their identity management and it will incorporate a lot of pieces that are web 2 and web3 and that their user identity is just going to become its own type of data and assets that are combined together."

Tokenized Loyalty Points and Engaged Communities

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  The concept of tokenized loyalty points, such as ERC20s, ERC1155s, and ERC721s, can be a powerful tool for brands to create engaged and scalable communities in various industries like media, entertainment, fashion, sports, and gaming.
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  Loyalty programs in the web3 space can create more engaged customers and generate hype and advocacy, leading to increased brand loyalty.
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  "Interoperability and cross-brand collaborations are made easy and identifiable through technology, allowing for more targeted offers and products for customers."
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  Brands can create a more web 3 native marketplace by cross-pollinating their audiences and building interoperability between brands.
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  Co:Create aims to provide a toolset for brands to build gamified rewarding experiences with an ownership component, an interoperable component, and a community-driven or multi-party component, allowing people to engage with one another.

Web3 and the Future of Marketing

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  Co:Create focuses on organizational brand-powered community engagement and reward programs, leveraging technology in the right way to overcome fear and uncertainty in the industry.
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  Brands that are ready to innovate and integrate web3 into their core products and services will have a targeted audience and the potential to create better consumer experiences.
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  "Brands can partner together with other like-minded non-competitive brands that is really exciting to them because attention is going to be the hardest thing to get." - Brands are considering partnerships with similar brands to capture the attention of their target demographic in a future world where attention is concentrated in certain places.
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  The future of paid marketing is moving away from relying on cookies and platforms like Facebook and Google, as regulators tighten their grip, forcing marketers to explore new avenues for understanding customer behavior.
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  Co:Create has raised $25 million to build their project, indicating confidence in their vision and potential success.