INFTnews | Forbes Web3 exploration

It is not very common for a 105-year-old company to explore the Web3 space and try to issue NFTs, but now for Forbes, the US business news giant, this leap into new areas has changed.Get used to it.

At VentureBeat's Transform 2022 event, Forbes CTO Vadim Supitskiy detailed how Forbes is transforming into digital, including what it took to enter the metaverse early.

Forbes' web3 exploration

On the Internet in the 20th century, nothing changed the way people consume news more than creating a portal to social media.

Forbes was an early practitioner of media in the early 20th century.Its website went live in 1996, and the paper publication Forbes followed suit, joining the social media bandwagon around 2005 when social media portals were booming.

The Forbes website is now reported to have an average of more than 150 million monthly readers across platforms.

It stands to reason that, as a large traditional publisher, Forbes does not need to worry about how to acquire readers, and it only needs to maintain normal business operations.But on the contrary, Forbes is not willing to be limited to the development of traditional media. It is not afraid of new technologies and has taken a big step forward in embracing streaming media.

Forbes launched a new service in 2019 called Forbes8, also known as the "Netflix for Entrepreneurs."Although the new service didn't have much utility since then, the service, which was designed to inspire entrepreneurs, became a regular news section of Forbes.

And now, it's looking at how to maintain core elements of its business in the hottest metaverse.

Supitskiy said: "We've been trying to reach readers in a number of areas, including other traditional media platforms, but also various websites for video and music, and now with the advent of the Web3 era, we're trying to reach out to the metaverse.do the same thing. Because the world is changing, we also want to follow in the footsteps of users and present information in the most convenient and interesting way possible.”

Forbes' NFT project

Given the company's technology-forward mindset and continuous innovation, it has adopted new ways of engaging with readers in order to align with the next generation of the Internet (NFTs, Metaverse, and Web3).

Last year, the first NFT auction took place in the publishing world.The auction, organized by Forbes, which auctioned off its magazine cover as an NFT, sold for $333,333, with the proceeds donated to the Committee to Protect Journalists and the International Women's Media Foundation.

This year, it went a step further, expanding its presence in the NFT space by selling billionaire NFTs to reach a larger audience.

Each NFT in the series is associated with a fictitious stock market portfolio.Every day, based on real NYSE market performance, the ranking of Forbes NFT roles held by users rises or falls like the ever-changing Forbes list.

“We have a very large and highly engaged audience in Web3, blockchain and other crypto spaces, and it is very important for us to engage our audience in matters relevant to the Forbes list,” Supitskiy said."In general, we want to continue building in the space, we want to bring more utility to our users, we want to engage our users in Web3 and the metaverse and really create the environment for that. Of course, weIt's still in its infancy, but we're going to do more and more of it."

Web3 needs easier accessibility

One of the negative voices about Web3, Metaverse, and NFTs is their lack of accessibility.

Experts say these technologies will eventually drive the democratization of the digital world and information, but for now, it may be costly for ordinary people to start dabbling in these emerging fields and technologies.As the entrance to the metaverse, even if the price of NFT is low, not everyone can easily obtain it.

Supitskiy said that while many Forbes readers are financially well-off, perhaps executives, perhaps business founders, the accessibility of these emerging technologies in order to make Web3 and the metaverse accessible to more general readersIt is still a major consideration for the company.

He said: “I want to make sure that our industry itself makes this emerging space accessible. Obviously, at this stage, not everyone has that easy access to this emerging space. You have to create a wallet, buy cryptoSoftware, in order to join the market, you have to buy NFTs or enter any of the metaverse platforms. While waiting for this step to become convenient and smooth, we will continue to play a role in this area to attract the attention of other users."

Science Web3 is the goal of Forbes

A Transform reader asked Supitskiy what Forbes is doing, from a social responsibility perspective, to help marginalized communities understand these new technologies and level the playing field?

Supitskiy said that Forbes has a team of reporters dedicated to reporting on stories about Web3, NFTs, blockchain and other crypto spaces, as well as ways to share how these innovations continue to impact different communities now and in the future.

Forbes' goal is to educate the masses about technology as a whole and how it will affect society.

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Source: venturebeat

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