Web3 in e-commerce

My first ever article that turned into a presentation to a team of over 100 CEOs was in 1994 and was about the Internet. Everyone was scratching their heads what I was talking about. Concepts like e-commerce and online videos were the least a joke for them. Travelling 26 years into the future let’s talk a little about web3.0 and what is it about. Before we enter in what web3.0 ( for me it’s web3 btw ) can do for you, let’s define in very simple terms what it represents.

The “new” web will incorporate technologies like blockchains and concepts like decentralization through tokenized economies. To state it even simpler web1.0 was like a newspaper, web2.0 is the newspaper but online, which you could comment about the document most of the times below and share you ideas. Web2.0 introduced the concept of Social Platforms like Facebook, Instagram, Twitter, LinkedIn and so much more. The basic concept is that you can interact to a post or an article and to each other. I could be talking for hours regarding web2.0 but as we are moving forward into web3 and even web4 and web5 let’s leave the past for the history books. Web 2.0 saw sophisticated platforms enter the fray—consumers could share online reviews, shopping links on social media, or even create their own web stores.

Now that we all understand how it works let’s see how web3 can slash the cost of your online customer acquisition and increase your customer lifetime value through technological breakthroughs mostly with the support of blockchain solutions from Algorand, the Avalanche blockchain, the XPR Ledger, Stellar Lumens, Ethereum and so many more which we will see in more detail in the near future.

NFTs / MFTs

Membership programs tied to NFTs (Non Fungible Tokens ), MFTs ( Music Fungible Tokens – see https://opulous.org/ ) with fluctuating and floating values will incentivize customers to refer friends, in turn, increasing the value of their coins/tokens. Also these technologies can create incentivized loyalty programs and points based systems where customer can ‘cash’ out their points for real world currencies like the US dollar and Euro or use them for online purchases anywhere on the web will drive more orders on your site, vs your competitors which use only FIAT ( real world traditional currencies ). It goes without saying that full transparency and being able to view the Digital Assets / NFTs and MFTs of anyone online will boost morale and motivate more people to enter.

DAOs

A DAO, or “Decentralized Autonomous Organization,” is a community-led entity with no central authority. It is fully autonomous and transparent: smart contracts lay the foundational rules, execute the agreed upon decisions, and at any point, proposals, voting, and even the very code itself can be publicly audited. Implementation of DAOs will encourage customer involvement in the direction of the brand, increasing engagement. We are witnessing this more and more on large projects that the coin holders take full control through governance. ( i.e. https://www.klimadao.finance/ )

The Metaverse

Finally, and as I promised to be short, web3.0 will lead into a more agile Metaverse looking further into the future ( 5-10 years away), metaverse stores will replace web stores, where customers will literally walk through your store and shop, as they do on your website now, yet in a much more engaging, interactive way. The Metaverse is forming and will use web3 as part of it’s tokenized economy.

Below is an amazing example which the 7 Michelin recepient Chef Gordon Ramsey enters the Metaverse through his ultra famous show Hell’s Kitchen.

The future runs through digital asset friends. For more information how to check us out: https://artofcrypto.co/contact/https://artofcrypto.co/contact/

Stay Safe and Be Great,
Evis Zenios