The growing adoption of cryptocurrencies, non-fungible tokens (NFT), and other Web3 technologies is reshaping user habits and behaviors worldwide, especially during holidays. Let’s explore how these changes are unfolding and how businesses are leveraging them through concrete examples.
Growing Popularity of Web3 Solutions
Since 2022, analysts have recorded a significant compound annual growth rate (CAGR) in the global Web3 technology market. Various reports offer insights into this trend:
- Emergen Research estimated a CAGR of 43.7% in 2022, projecting the industry to grow to $82.72 billion by 2030;
- Research and Markets reported a CAGR of 38.8% in 2023, forecasting growth to $16.3 billion by 2028;
- Grand View Research estimated a CAGR of 47.1% in 2024, predicting growth to $33.5 billion by 2030.
While exact figures vary, the overall trend is clear. Besides, new business-to-consumer interaction models based on Web3 technologies are rapidly evolving, shedding their niche status and exerting a broader influence across multiple industries.
Simultaneously, user behavior is changing as people increasingly explore new ways to exchange value, utilize unique digital assets, and engage with decentralized solutions. It positions the Web3 industry as a key driver of technological innovation, encouraging businesses to tap into the fast-growing digital economy and embrace innovative methods of engaging with the public.
Innovative Brand Strategies Leveraging Web3 Solutions
The development of Web3 technologies has elevated user experience personalization, interaction monetization, and marketing campaigns to new levels. According to Gartner, by 2027, over 40% of major brands will integrate decentralized solutions, digital twins, and spatial computing into their seasonal and holiday campaigns.
Non-Fungible Gifts
A study by the University of Lisbon found that NFT buyers are less influenced by potential social or financial gains than previously assumed. Instead, they behave more like consumers of traditional luxury goods, making NFTs an excellent choice for gifting.
Leading NFT marketplaces like OpenSea, Rarible, Blur, and Magic Eden are leveraging this trend by encouraging holiday-themed airdrops and giveaways, supporting seasonal NFT collections, and running campaigns tied to various holidays. This contributes to the growing popularity of digital artifacts as gifts.
Many prominent brands have already experimented with NFT gifting campaigns, including:
- Coca-Cola, which launched an NFT collection for International Friendship Day, featuring a digital version of its classic vending machine and a bomber jacket for use in the Decentraland metaverse. The auction raised over $575,000, which was donated to charity.
- Clinique, which celebrated the holiday shopping season by offering social media followers a chance to win one of three exclusive NFTs along with valuable prizes.
- McDonald’s, which released a limited-edition NFT collection for the 40th anniversary of the McRib sandwich. Ten NFTs were raffled off among social media followers as part of a larger PR campaign.
Other major brands from various industries, including Adidas, Gucci, Starbucks, and Mercedes-Benz, have also experimented with using NFTs as gifts.
As the total number of NFT users grows, predicted by DOIT Software to increase from 10.3 million in 2022 to 19.3 million in 2027, the popularity of NFTs as holiday gifts is likely to rise proportionally.
Online Events in Metaverse Spaces
The audience for major Metaverse projects once reached hundreds of thousands or even millions of users at their peak. However, as of late 2024, interest in these platforms has significantly declined. For instance, Decentraland’s active user base in December 2024 was approximately 8,300, despite having over 1 million registrations in total. Similarly, The Sandbox, with over 5.7 million registered accounts, had monthly active users ranging from 4,000 to 14,000 during 2024, depending on the source.
The peak popularity of Metaverse projects occurred in 2022. But activity on these platforms continues to spike situationally during engaging events, as virtual events in the Metaverse have become an essential part of the PR strategies of many large brands. For example:
- on Roblox, an interactive space called Gucci Garden was launched for two weeks, featuring virtual accessories, and it served as a location for thematic campaigns and the presentation of holiday collections;
- in Decentraland, Samsung 837X was introduced as a virtual counterpart to Samsung’s New York office, hosting New Year’s and other holiday events, as well as special quests and VR presentations;
- Ubisoft, the gaming giant, organized a special quest in The Sandbox to coincide with Easter celebrations and promote the Rabbids franchise.
Many major brands, including McDonald’s, Coca-Cola, Louis Vuitton, Adidas, and Nike, have hosted various events in Metaverse spaces. Brands frequently participate in exhibitions such as the Virtual Market series by HIKKY, showcasing their products and services to users on platforms like VRChat and Gather. Moreover, multiplayer Web2 games like Fortnite and Minecraft are also popular venues for hosting online events.
Compared to traditional events, virtual ones require lower costs and offer increased participant engagement by providing unique and immersive experiences. This was especially relevant during the COVID-19 restrictions, but even after those were lifted, Metaverse events remain a popular form of leisure, including for holiday-related activities. According to G2, Metaverse projects are projected to reach an audience of 2.6 billion users by 2030.
Impact of Crypto Payments on Holiday Sales
Cryptocurrency payments are becoming a crucial tool during holiday sales events. Analysts at IBS Intelligence highlight their growing significance in the luxury sector, particularly in fashion, jewelry, and fine dining. Binance and FiveWest data also point to increased cryptocurrency spending during seasonal sales in premium categories.
Due to the speed of transaction processing and low fees, accepting crypto helps businesses expand to global markets. Research shows that merchants accepting cryptocurrencies see a 15–20% increase in sales during holiday periods. Furthermore, in the context of seasonal discounts and promotions, crypto payments minimize intermediary costs, enhancing business profitability.
“Approximately one-third of all crypto users, according to various studies conducted in different markets, view digital assets as a means of payment,” said Max Krupyshev, CEO of CryptoProcessing by CoinsPaid, during the Purpose Driven FinTech podcast. By 2023, the total number of cryptocurrency users surpassed 500 million, and by October 2024, this number exceeded 617 million, according to Andreessen Horowitz.
Prospects for Further Transformation of Holiday Experience Driven by Web3
Several factors hinder the adoption of Web3 solutions in traditional holiday activities, which can be summarized as follows:
- Legal and tax uncertainties.
- Complexity and technological limitations.
- Individual bias.
Businesses face challenges in implementing technological solutions due to unclear legal frameworks and intellectual property concerns. At the same time, the complexity of user-facing Web3 interfaces creates a high entry barrier for the general public, compounded by biases against crypto or innovations. Additionally, some segments of society are apprehensive about changes to their traditional holiday practices.
However, many countries are actively working to establish transparent regulatory frameworks for the Web3 industry, and developers are striving to simplify the use of cryptocurrencies, NFTs, and Metaverse platforms. Alongside the global trend of increasing adoption of digital assets and decentralized technologies, holiday experiences and traditions are gradually evolving under their influence. It’s safe to say that this transformation is already underway and gaining momentum.