In this exclusive TechBullion interview, Taha Ahmed, Chief Growth Officer and Head of Web3 at Forbes, sheds light on the iconic media brand’s ambitious foray into Web3 innovations. With a legacy spanning over a century, Forbes continues to lead through innovation by embracing blockchain, NFTs, and the metaverse. Taha discusses his pivotal role in driving Forbes’ growth strategy and Web3 initiatives, which include ground-breaking projects like the Forbes Legacy Pass; an exclusive collection of soul-bound NFTs offering unparalleled benefits to Web3 entrepreneurs and investors.
This interview explores how Forbes is leveraging Web3 technologies to redefine the media landscape and membership models by combining exclusivity, community engagement, and entrepreneurial collaboration. Taha highlights the significance of partnerships with platforms like Coinbase, Rarible, and Animoca Brands, showcasing how these collaborations are driving education, innovation, and access for the broader Web3 community.
Though Forbes embraces the decentralized nature of Web3, it remains committed to its legacy of trust and quality. Looking ahead, Taha outlines an exciting vision for Forbes Web3, emphasizing global expansion, strategic partnerships, and the creation of a dynamic ecosystem that supports and empowers the next generation of Web3 leaders.
Please tell us more about yourself.
My name is Taha Ahmed and I am the Chief Growth Officer and Head of Web3 at global media brand Forbes.
I work closely with the CEO and CDO of Forbes driving overall corporate and growth strategy and about a year ago I began leading Forbes’ Web3 team developing innovative product initiatives, cultivating engaged communities, and delivering valuable experiences for Web3 entrepreneurs and investors.
Forbes has been a leader in traditional media for over a century. Why did Forbes want to embrace Web3, and how did the company adapt to this transformation?
For over 100 years, Forbes has been at the forefront of the latest technological trends and has championed entrepreneurship from day one. Innovation and community are at the heart of our organisation, and we continuously evolve to the latest trends and incorporate cutting edge technologies to remain at the forefront of consumer preferences.
We are excited about Web3 because we believe it represents the next frontier in media and overall content consumption. Over the next 10 years we expect web3 models becoming widely adopted, and building Web3 capabilities today will help position Forbes as leader in the decades ahead.
With that said, we have been experimenting with Web3 for several years now. We were one of the first publishers to convert one of our front covers into a NFT, established permanent presence in the metaverse, one of the first major publishers to incorporate web3 wallet authentication on Forbes.com, a top 35 internet domain and last year we published our lists on the blockchain, including the famous U30 list.
Our latest project, the Forbes Legacy Pass, which is an invite only collection of 1917 soul bound NFTs for web3 leaders, builders, investors and entrepreneurs, with a focus on providing robust utility and perks, creates an opportunity to further engage the Web3 native audience as well as deepen our ties to the space. Most importantly, it creates a pathway through which the broader Web3 community can access perks and benefits such as access to Under30 summit, subscription to Forbes and most importantly, partner with ForbesWeb3 team in building new web3 projects.
What role do you believe the Forbes Legacy Pass will play in shaping the future of the broader media landscape and membership models in both digital and traditional spaces?
The Forbes Legacy Pass provides a blueprint for the evolution of membership models in both digital and traditional spaces. Previously, organisations were focused solely on digital collectables and art, but I expect that more media companies will begin to leveraging NFTs to deliver benefits to members and enhance engagement.
The Forbes Legacy Pass demonstrates the importance of providing experiences and access that can’t be found elsewhere. The value isn’t in the Pass itself, but in the exclusive knowledge, connections, content and entry into elite circles it grants the holder.
Forbes understands the power of convening communities, through the growth and success of the likes of Under 30, Over 50, CMO Network, Forbes BLK and more. We have over 100,000 people apply for Forbes Legacy Pass through a waitlist, but we have been selective about who we have granted passes to. We have chosen individuals who align with our vision for the growth of Forbes Web3 and be part of the community for the long term, both online and in real life. To make sure our community is as strong as possible, we also ask our members who else they would like to be part of the group, so we tailor our membership to their needs.
With access to events like the 30 Under 30 Summit and personalized interactions with the Forbes Web3 team, how do you envision the Legacy Pass fostering a new breed of entrepreneurial collaboration?
The Forbes Legacy Pass is uniquely positioned to foster a new breed of entrepreneurial collaboration by leveraging the power of exclusive access, personalised interactions, and a strong community. By combining the prestige of the 30 Under 30 Summit with the forward-thinking expertise of the Web3 team, Forbes creates an environment where innovation, collaboration, and entrepreneurship can thrive.
Web3 entrepreneurs can accelerate their journeys through the Legacy pass. One key benefit that members have as part of Legacy Pass is the ability to partner with ForbesWeb3 team on building and growing Web3 projects. For select projects, ForbesWeb3 team and Legacy Pass community comes together to support projects through their networks, promotions and expertise, supporting entrepreneurship unlike any other project in the market. This approach not only enhances the individual success of its members but also contributes to a more connected, innovative, and collaborative entrepreneurial ecosystem.
Tell us more about your partnerships and collaboration with platforms like Rarible, Animoca Brands and Arts DAO?
Our partnerships are strategic moves to deliver value to our audiences by leveraging our global access and network to benefit the Legacy Pass members and our broader Web3 community.
With Rarible we ran an art contest, curated to amplify and spotlight emerging digital artists in the web3 space. The first place winner had their art work displayed on Time Square billboards.
Our strategic collaboration with Animoca Brands was designed to support Web3 education by identifying and elevating impactful educators and creators, pivotal in driving the next wave of Web3 learners.
Then elsewhere we have also worked with Arts DAO to support emerging digital artists at their event in April and help foster a common theme of community, culture, and creation through art.
We have also done deeper partnerships with blockchain companies, again with a focus on providing utilities, such as one with QBX, where the ForbesWeb3 community can earn blockchain based loyalty rewards as well with companies like sleap.io, where ForbesWeb3 user can redeem $100 worth of travel credits for booking hotel and airline tickets.
Most recently, ForbesWeb3 executed on of its biggest partnerships with Coinbase, the leading exchange in the US. ForbesWeb3 was strategic partner of the Onchain Summer program for Coinbase. Our Inspire collection, soul bound NFTs celebrating entrepreneurs and builders, did a record 200,000+ mints in 3 days.
This is just the beginning; we expect to build on our strong momentum and pursue new opportunities aimed at building one of the most valuable ecosystems in Web3.
How does Forbes Web3 plan to maintain its legacy of trust and authority while navigating the decentralized and often volatile nature of the Web3 world?
Forbes Web3 is committed to maintaining its legacy of trust and authority by focusing on high-quality content, transparency, education, ethical partnerships, and continuous adaptation. Forbes Web3 underpins Forbes’ central ethos of upholding its reputation as a trusted source of information, and we will ensure this remains the same as our digital economy expands and grows.
Looking ahead, what is Forbes Web3’s vision for the future and what developments are you most excited about?
Forbes Web3 is only around a year old, but its success and growth has been thanks to the powerful community of supporters. Our X (formerly Twitter) following, which often referred to as the proxy for Web3 community, has grown over 160,000 under a year with one of the highest engagement rates in digital media. The legacy pass is our first project. Our aim is to be one of the leading communities in Web3 with multiple projects focused on extending Forbes brand deeper into the Web3 domain.
In the short to medium we are focused on expanding our global reach, from Europe to the Middle East to Asia, all countries that have strong adoption of digital assets. The Forbes Legacy Pass member base is already global. In the last two months, ForbesWeb3 has had strong presence in Istanbul Blockchain Week, WebX Japan, Korea Blockchain Week, MyTokenAsia in Malaysia, and Token2049 Singapore. Legacy Pass members enjoyed complementary access to Web3 conferences around the world. We will continue to strengthen the benefits ecosystem for ForbesWeb3 community members.
A key tenant of the Web3 strategy is partnerships. Over the long term, we are excited about partnering with community members in building and incubating Web3 projects, ranging from blockchains to Defi to web3 native consumer apps.
We are very excited about the future holds, and we encourage your readers to follow us on X @ForbesWeb3 and apply to Forbes Legacy Pass to join the ecosystem.
