Last year, Nike launched Rtfkt, a digital studio, which has helped push the boundaries of design and personalization, according to fashion business. Now the sports giant is developing an independent Web3 strategy to stay at the forefront of digital innovation. The Dot Swoosh will house Nike’s virtual creations and provide consumers with unique experiences and interactions.

Other companies may soon emulate this innovation, according to a recent report by Bain & Company, which concludes that Web3, the third generation of Internet technologies, will effect a shift from the current centralized approach to a more decentralized structure.

“Forward-thinking leaders in all industries should plan to embrace Web3 technology,” Chris Laurent, CEO and co-founder of Virtually Human Studio, said in an interview. The Australian startup that produced the flagship Web3 game ZED RUN has generated over $250 million across its ecosystem and is backed by Andreessen Horowitz (a16z), The Chernin Group, RedBeard and Greylock Partners. “As disruptors in Web3, VHS pioneered the NFT utility by demonstrating a real use case for Web3 gaming by being one of the main catalysts driving the excitement behind NFT,” added Laurent. “We use ZED RUN as a proof of concept to develop new methods of interaction with the blockchain for the benefit of our users.” Subsequently, according to Laurent, “VHS is developing proprietary Web3 technology that has the potential to change the way leaders and their companies interact with the world.”

Collaborative in nature, ZED RUN’s recent partnerships with iconic brands like Atari, Budweiser, NASCAR and Netflix were born out of a shared vision to create more engaging and immersive on-chain experiences, bringing the metaverse within reach. “We are here to develop shared learning and fundamental systems, using emerging technologies in games, sports and mixed reality to bridge the gap between the physical and virtual worlds, defining the future of entertainment,” said Laurent.

He believes that “Web3 will shape the way businesses interact with consumers, peers and competitors – the builder economy is the key to widespread adoption.” Laurent’s view is consistent with research that predicts the mixed reality market will grow at a CAGR of 43.28%, reaching $9.21 billion by 2030. This is not necessarily a surprise given that the largest digital asset market broad is already expanding, with Bain’s web3 and digital asset database tracking more than 4,000 companies collectively raising more than $80 billion in capital. Bain estimates that the market could reach over $1 trillion by 2030. Another study, this one by Mckinsey, suggests that leaders need to understand Web3 if they want to stay competitive in a digital-first world.

However, leaders must look beyond technological factors and consider the human element. Because first and foremost, Web3 is about creating an environment for people to interact and transact with each other. To do this successfully requires a combination of technology, collaboration, and recognition from the creator ecosystem. This appreciation opens new frontiers of innovation and allows companies to stay ahead in an increasingly digital world.

Consider ICONN Live, the live streaming entertainment marketplace founded by entrepreneur, rapper, and actor Ja Rule. The innovative platform, now available on Apple TV, uses mixed reality to bring fans closer to creators, giving them a front-row seat to live events and exclusive behind-the-scenes content. “The partnership with Apple TV will improve ICONN immensely,” Ja Rule said in an interview. “ICONN provides fans with a unique and intimate way to connect with their favorite artists. With the app now available on Apple TV, ICONN allows more people than ever to join in an immersive experience, introducing a new generation of music lovers to the legends they love!

Rakim, who ranks fourth on MTV’s list of the greatest MCs of all time, will be taking over the ICONN Live app for today’s VIBES concert. The event will feature live music and mixed reality, which users will be able to access in real time and in 360 degrees. Ja Rule said, “Rakim is one of the best to do it – his place in history is cemented. So it’s only fitting that we celebrate him and his catalog at ICONN Live.”

Harnessing the power of Web3 and harnessing its ever-growing potential, Ja Rule told me, in our third exclusive interview, that he intends to create more innovative and user-centric experiences. While this is exciting news, it is an interesting example that companies can emulate. In fact, some already are. Consider, for example, that last month, the Fédération Internationale de l’Automobile (FIA) launched an immersion program to educate young people to become future motorsport leaders. Additionally, research published by Harvard Business Review concludes that retraining workers through immersive experiences will help address the talent shortage of 85 million people by 2030, as identified by Korn Ferry.

And so, by staying in tune with Web3 developments, leaders can stay ahead of the curve. Doing so could open up a whole new realm of potential for leaders and provide an incredible opportunity for creators to showcase their talents. Subsequently, the creator economy can become a crucial driver of widespread adoption. For example, Web3-enabled virtual events can reduce the environmental impact of large gatherings to provide more personalized multidimensional experiences for participants.

Ultimately, it is intriguing to observe that Web3 broadens the reach of organizations and enables leaders to bring people closer: creating trust and transparency that can drive deeper connections with their environment and the digital-first world around them. From immersive educational experiences to virtual events, Web3 technologies offer leaders a platform to create truly unique and engaging experiences. And that is good news for everyone. Because when it comes to Web3, the possibilities for leaders to take advantage of the technology are endless.