This article investigates how Web3 technologies, such as blockchain, NFTs, and the metaverse, can drive business model innovation by enabling new forms of value creation, delivery, and capture. While the strategic potential of Web3 has been widely discussed, there remains a lack of operational tools to guide its implementation in real-world business contexts. To address this gap, we introduce the Web3 value exploitation design model, a step-by-step framework grounded in the GUEST methodology. The model is designed to support engineering managers in assessing Web3 readiness, aligning stakeholders, and developing decentralized business models.