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Web3 has experienced significant growth with events like DeFi summer bringing billions into new protocols and NFTs transforming avatars and collectibles into cultural phenomena. Millions engaged by opening wallets, experimenting with dapps, and speculating on an on-chain future. However, after these surges, adoption started to wane. Factors such as exchange failures, speculative excess, and ambiguous regulations drove many retail users away. Institutions have continued to develop — including ETFs, custody solutions, and corporate treasuries — but retail consumers have not returned in large numbers.

Summary

• Speculative interest attracted early adopters, yet mass adoption demands cultural relevance; products must resonate with people’s passions like music, fashion, and community.
• Legacy brands (e.g., Adidas, Gucci, Nike) are ideally positioned to connect Web3 with the public, leveraging their trust and cultural authority.
• Tokens enable ownership and utility beyond loyalty programs, offering access to events, merchandise, and fan communities, with blockchain ensuring authenticity and portability.
• The next adoption phase will emerge at the intersection of culture and technology, as renowned brands evolve digital assets into experiences that people desire.

The critical element for mass adoption is cultural relevance. Many projects fail to engage everyday users emotionally. Until products resonate with their passions, web3 will remain confined to a niche audience instead of reaching a broader population.

Speculation Isn’t Enough

While speculation ignites excitement among early adopters, sustainable adoption requires a deeper cultural connection. Average consumers are less likely to gamble but will engage when digital assets align with their existing interests in entertainment and community. Many startups often use jargon that is inaccessible to the general public, such as “decentralized future” or “programmable money.” Without clear cultural connections, these terms become meaningless. It’s insufficient to argue that blockchain is quicker or more transparent; consumers must perceive direct benefits, like easier concert access or authentic ownership of collectibles.

This trend is not unprecedented. Each technological innovation needed established companies to mainstream it. The internet became common through companies like AOL and Yahoo, while streaming services transitioned to default settings when major media companies digitized their libraries.

The same paradigm applies to web3, where legacy brands can serve as the critical link.

Why Legacy Brands Matter

Legacy brands possess what newcomers often lack: deep cultural trust, established reputations, and expansive communities. Some existing examples illustrate this in the web3 sphere. Adidas collaborated with web3-native entities like Bored Ape Yacht Club and Gmoney to introduce tokenized wearables and unique experiences. Gucci embraced cryptocurrency payments and launched blockchain partnerships that provided both digital and physical value for collectors. Breitling created blockchain-backed digital passports for its watches, enabling buyers to verify ownership.

Each initiative demonstrates how readily mainstream audiences engage when a digital asset carries tangible real-world significance. These projects emphasize a vital principle: consumers don’t have to understand blockchains to engage; they merely need assurance that a trusted brand is delivering something valuable, scarce, and secure.

Trust is equally vital. Following numerous exchange failures and rug pulls, many potential consumers are wary of web3 products. A collaboration from a brand like Nike or Disney can build trust in ways that a startup cannot, due to the long-established reputations involved. For hesitant newcomers, familiarity with a brand mitigates perceived risks and transforms digital ownership into a safe venture rather than a gamble. Trust is as crucial as culture for widespread participation.

Ownership and Utility Beyond Loyalty

Web3 innovation introduces new ownership modalities and access opportunities for cultural power players. A tokenized membership can act as a comprehensive pass to fan ecosystems, providing concert access, special merchandise, or a direct link to private collector communities. Unlike traditional loyalty schemes, these assets are transferable, verifiable, and usable across platforms. Ownership becomes an asset that users can trade or build upon.

The upcoming phase of adoption will hinge on tokens as gateways to interactive experiences. Access to events, merchandise options, gamified rewards, and fan memberships exemplify areas where cultural brands can spearhead progress. Instead of centering discussions on a token’s future value, the focus shifts to the immediate benefits it offers. This approach fosters loyalty, enhances two-way engagement, and transforms consumers into active participants. Blockchain guarantees scarcity and authenticity intuitively: owning the token equates to owning the experience, and no one can forge it.

A Cultural Bridge to the Future

This cultural shift coincides with advances from institutional entities. Regulatory bodies across Europe, the Middle East, and the U.S. are establishing clearer guidelines. Global financial institutions are introducing custody, tokenization platforms, and on-chain settlement facilities. These developments enhance trust and foundational infrastructure but don’t automatically draw the public. Without cultural relevance, web3 risks becoming a space designed for traders and institutions rather than accessible to the masses.

Legacy brands can bridge this divide, presenting blockchain to millions who might not read a white paper but will readily accept a token connected to their favorite brand, community, or cultural event. The future of web3 will not be determined solely by startups or institutions. Instead, it will be molded at the crossroads of culture and technology, where legacy brands hold a significant position. By entering the web3 space with tangible value and authentic experiences, they can lead the next wave of adoption.

If speculation characterized the first wave and institutions are constructing the framework for the second, legacy brands will shape the third wave — where culture seamlessly aligns with utility, allowing web3 to thrive in the mainstream.

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Evan Kuhn is the President of DeLorean Labs, the web3 innovation arm of the legendary DeLorean brand. A seasoned entrepreneur, he previously co-founded Coinberry, a Canadian crypto trading platform acquired by WonderFi for $38 million, solidifying his influence in the digital asset arena. At DeLorean Labs, Evan spearheads innovative projects like the $DMC token and a state-of-the-art vehicle reservation and analytics platform built on Sui. He has also established critical partnerships with Animoca Brands’ Motorverse and Mysten Labs, steering the future of mobility at the juncture of blockchain and automotive heritage.