The transformation from Web2 to Web3 is bringing great brands to the emerging sector. The power of brands and communities was among the topics discussed at Benzinga’s inaugural Future of Crypto event in New York City. Here’s what industry experts have to say on the topics.

Community promoting brands: The community can grow a brand and also kill it, said the artist and writer Mike Marple.

“Community has been appropriated by Web3 and a lot of times it just means followers,” Marple said.

Marple said it’s important to have communities that support each other and can lead to partnerships and collaborations.

NFT investor rafael quintero added that Web3 communities show more co-creation and co-ownership than the earlier stage of Web2.

“For me, the community is the first place I go in the morning, the first place I go before I go to bed at night,” Quintero said.

Quintero called the community critical of the Web3 space and said he is lucky to belong to some great communities.

Naimul Huq is the senior vice president of Vayner3, a company founded by entrepreneur gary vee (also know as Gary Vaynerchuk).

“For my community it is more a verb than a noun. Community happens when people with shared affinities recognize each other,” Huq said.

Huq said that the ability of the blockchain connects people with shared common ground and can be verified without having to validate through a conversation like on Web2.

Related Link: Reddit NFT New Digital Collectibles Adding Millions to Web3

Growing brand and community: Given Vee’s strong position in the Web3 space, Huq was asked for suggestions on how companies and projects can grow their community and brand power.

“Presence is really important,” Huq said. “Gary goes on Discord all the time.”

VeeFriends Discord has more than 100,000 members and is one of the most active, something Huq attributes to members listening to their leader often.

“The scarcest thing on the internet is attention.”

Huq said that social networking platforms like Facebook not only compete with other social networks, but also compete with video games like “Fortnite” and other media for users’ time.

“If you’re not active in standing up to the community, then they’ll go elsewhere.”

Huq said that when Vee isn’t on Discord, the community interacts with themselves and maintains connections thanks to the lessons she’s taught and the presence they’ve come to know.

“The best thing you can do is be there for them.”

Quintero said that one of the best things that happens to help grow a brand is the post-discord phase of flippers and speculators.

“When communities remove those people, the magic starts to happen,” Quintero said.

Marple said communities can build on shared experiences, having sometimes gone through war together.

“It’s an experience like no other,” Marple said.

Companies leading the way: Marple praised the auction house Christie’s for the work you have done on Web3. Marple said Christie’s was one of the first movers and has stayed the course.

Quintero highlighted Mexican soda brand jarritos, which had a highly anticipated NFT mint that didn’t sell out. Quintero said the team then adjusted the supply and has gone above and beyond for its starters.

Quintero also highlighted Flatwhich allows NFT holders to keep track of their collections.

huq highlighted Redditthat helped to incorporate more users to the Web3 space with the launch of digital avatars.

“Something that stands out to me is what Reddit has done,” Huq said.

Huq said that Reddit reversed the narrative on its audience, something made evident by the number of people supporting Reddit avatars who previously had negative thoughts about NFTs.

Huq said the lesson for companies is to use new language and perhaps avoid non-fungible token wording in the future.

The senior vice president of Vayner3 said that companies like starbucks inc sbux they are using Web3 to launch better loyalty programs, something they believe will continue in the future.

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Vayner3’s Naimul Huq speaks at the Benzinga Future of Crypto conference. Photo by Gaspar Marquez.