What is the Web3 e-Commerce

2022-06-29   

Web1 appeared in the early 1990s. The internet at the time was static, barely interactive, and relied largely on the use of read-only content and links.

Web2 brings the online world to the next step. Today's users are obsessed with social media: posting pictures and videos of their daily lives, interacting with others' content, and shopping online. The list still continues.

What Web2 lacks is security. The e-commerce industry, while booming, does not guarantee any protection of user-sensitive data. Some companies even use customers' personal information to produce advertising and "once in a lifetime" offers.

This is when the Web3 comes up to us. With Web3, users have access to blockchain technology, which allows them to control their personal data, privacy and finances.

Best Web3 Ecommerce AMT.LAND

Users will experience full control of their digital assets. In fact, decentralization is exactly what makes blockchain technology attractive. In Web3, users can run transactions on the blockchain and participate in protocols with encryption and NFT.Businesses and customers have many new opportunities!

Singapore's first e-commerce platform to accept cryptocurrency payments, featuring NFT and technology products, art promotion and trading markets.

https://amt.land/

Owner in-store, self-operated, accepts ETH AMT and all ERC20 tokens payments. Marketplace function, and the referral person unique invitation code, recommended purchase rebate.

https://amt.land/affiliate-dashboard/

Register promoter account, get exclusive invitation code, have access to 20% rebate (by AMT)

Store link:   https://amt.land/vendor-register/

In addition to English and Chinese, there are other multilingual users including Vietnam, Spanish, French, Arab and other markets.

Before we delve into more detailed aspects of these new trends, let's look at the more important concepts of the next generation Internet. Web3, also known as Web 3.0, represents a whole new iteration of the World Wide Web. Often, Web3 contrasts with our current web2.0, which is also known as participatory networks.

In Web 2.0, the data is centralized, meaning that the data is mostly owned and controlled by limited large companies. These large companies are often called big Tech, the term coined by a co-founder of Ethereum. The concentration of power for the big tech companies we see today is quite the opposite of the digital world imagined by Web3 enthusiasts.

Web3 is a potential new digital universe based on blockchain and stereotypical blockchain concepts (such as decentralization and the token economy). The appeal of Web3 is its decentralized nature, removing big tech companies and any intermediaries from Eq. In Web3, it is no longer about accessing the Internet through platforms like Google, Apple, or Facebook, but rather by individuals who own and control their own Internet.

Web3 eliminates the need for "trust" and for intermediaries that facilitate virtual transactions.Instead, secure transactions and reliable payments are guaranteed by the blockchain. And, at least in theory, Web3 will also better protect user privacy, as today the big tech companies are mainly collecting potentially sensitive information and user data.

Web3 Features:

The information is mostly free and open-source

The transaction information is both unique and authentic

Everyone has their own data

The centralized monetary system has been replaced by DeFi (decentralized finance) and cryptocurrencies

The transaction and the ownership were anonymous

The gold is not always shining

Of course, this is an idealized, somewhat utopian vision of Web3 proposed by hardcore blockchain enthusiasts. In reality, Web3 may not become egalitarian like that. For example, one aspect of Web3 is decentralized finance, DeFi. DeFi is about financial transactions on the blockchain, without assistance from banks or the government. While this sounds good, DeFi unsurprisingly attracts several big companies and venture capital firms that have already invested heavily in building the Web3. It is hard to imagine that their participation will not become a different kind of centralized power.

The demand for NFT is constantly increasing

But while Web3 is still an emerging concept, and big technology is very active, some trends are already very important from an e-commerce perspective. One example is the fanatical demand for NFTs or Non-Fungible Tokens. The desire for digital assets has spurred wild bidding wars, ranging from Nyan Cat selling for nearly $600,000 to Twitter CEO Jack Dorsey's original tweets being sold for $2.5 million.

Before we explore this issue further, let's go back back and explore the categories of NFT. NFTs are a special type of crypto asset. They are part of the Ethereum blockchain, and the NFTs are unique and unique in digital objects, ranging from music and art to games, and even tweets. NFTs are bought and sold online, usually using cryptocurrencies. Currencies like traditional currencies and Bitcoin are "replaceable", meaning they can be exchanged with each other, and the NFT is unique (thus called "irreplaceable"). Each NFT has a digital signature that cannot be changed for the owner to verify ownership.

The NFT Market, ——TO THE MOON

NFTs can add value, just like other assets. And for now, they seem to do so without any restrictions. It is not uncommon to see buyers paying thousands or even millions for the current most popular NFT, which has turned the NFT category into a new speculative market.

How will this affect e-commerce?

Web3, cryptocurrencies, and NFTs are already affecting e-commerce, and its growth will only accelerate. As start-ups continue to innovate rapidly, blockchain use cases are also expanding.Let's look at some real-world examples and see how it affects the e-commerce sector.

Unusted e-commerce pattern based on blockchain

In the near future, consumers are likely to buy products in online stores through innovation on the blockchain, contract support, and distributed applications (dApps). Self-executing code will make these transactions immutable and unreliable, thereby reducing returns, return fees, and fraud. While trust is the main driver of e-commerce today, in Web3, this will become less important in Web3, because in W e b 3, it is the blockchain that guarantees the transaction. Payment in cryptocurrency will be as common in e-commerce as payment with a credit card or PayPal.

An Ecommerce Loyalty Incentive Program based on NFT

One of the most popular use cases of NFT in e-commerce is the monetization of the loyalty program. Often, these programs offer you bonus points for each purchase. These points can be used to redeem products or discounts, or increase to larger bonus items.

NFTs enable companies to offer more valuable loyalty rewards. Rather than giving customers any points, the company can issue NFT-based tokens and preset value.

Metacverse Customer Experience

Like many emerging technologies, there is no universal definition of what the metauniverse is or what it will look like. But we know it's coming, and in some way it's here. The Metaverse is a combination and extension of many existing and emerging technologies, such as AR, VR, blockchain, cryptocurrency, and social commerce. A frequently used definition is that the meta-universe is an expanding world of real-time, three-dimensional virtual space that is not just an additional sales channel, but also becomes its own economy. Building a customer experience in the metaverse is an exciting challenge and opportunity for today's e-commerce brands, and even more so in the future.

Building communities using NFT

An example of how AMT innovators extend the NFTs concept rewards merchants and users of NFT, including Swaggy Panda Sport Club, and basically the merchants and user engagement consensus situation turns into NFT assets."Proof of attendance". The idea is to leverage NFT to create communities based on shared experience.

Disclaimer: This article is reproduced from other media. The purpose of reprinting is to convey more information. It does not mean that this website agrees with its views and is responsible for its authenticity, and does not bear any legal responsibility. All resources on this site are collected on the Internet. The purpose of sharing is for everyone's learning and reference only. If there is copyright or intellectual property infringement, please leave us a message.

Newest

  • Fun Spades: Bridging Tradition and Innovation, A Journey Through Card Game Excellence

    Fun Spades rose as one of the leading forces in digital card gaming. With over millions of thousands of downloads, the app bridges tradition and innovation, offering diverse game modes, sleek interface, and social features. It celebrates the rich heritage of Spades while embracing modernity through updates and events. Looking ahead to 2024, the app's development team is gearing up for an exciting journey filled with innovative updates and features. As the realm of digital card gaming evolves, Fun Spades stands out as a captivating and intellectually stimulating choice for card game enthusiasts
  • 3X Upgrade! Meet with VOOPOO's New Super Pods ARGUS P2&G2

    VOOPOO, a leading innovator in the vaping industry, is delighted to introduce two new additions to its esteemed ARGUS Pod series - ARGUS P2 and ARGUS G2. The two new super pods come with a 3X upgrade, fully upgrading the user's vaping experience.
  • Powerful Tool in the Market - AXIS-VIP Account

    As time passes, we are quickly approaching the launch of the second phase of the Wealth Express program. Veenit Jindal, the CEO of the Asia-Pacific region at the U.S. Bancorp, after extensive market research and several rounds of negotiations, has finally selected AXIS as the brokerage firm for this collaboration. This decision will involve the public issuance of a certain number of VIP accounts. These accounts offer a range of powerful features, ensuring smooth sailing for the success of the Wealth Express program!
  • Wall Street's Indian Titan - Top Analyst Sanjay Patel

    Sanjay Patel was born in Surat.From an early age, Sanjay Patel demonstrated a strong interest in numbers and analysis. His father was an innovative teacher, and his mother was a social worker dedicated to improving the living conditions of the underprivileged.
  • Wall Street's Indian Titan - Top Analyst Sanjay Patel

    Sanjay Patel was born in Surat.From an early age, Sanjay Patel demonstrated a strong interest in numbers and analysis. His father was an innovative teacher, and his mother was a social worker dedicated to improving the living conditions of the underprivileged.
  • ISEKY Goddess Invitation NFT to be Listed on Xterio Platform, Offering Numerous Benefits

    As early as January 8th, ISEKY officially announced its entry into the Xterio platform and released a teaser video for its flagship product, ISEKY: Soul GPS. The video immediately captured the hearts of Web3 users. Within just one hour, a large number of participants flooded into ISEKY's Discord channel, and their enthusiasm even triggered Discord's protective measures, prompting ISEKY to temporarily halt new user registrations. Recently, ISEKY announced that the Goddess Invitation NFT will be listed on the Xterio platform on March 21st, once again attracting the attention of WEB3 users. Accor
  • A new giant on the global stage: ZIOPTO exchange reinvents digital trading

    ZIOPTO exchange, which has risen rapidly in the field of digital currency, recently announced its global expansion and diversification strategy. This strategy aims to further consolidate its position in the international market and promote global financial cooperation.
  • Trading innovation: ZIOPTO exchange user experience revolution

    ZIOPTO Exchange, an innovator in the field of cryptocurrency trading, recently launched a major upgrade to its user interface (UI), aiming to provide a more intuitive and easier-to-use trading experience. This upgrade marks ZIOPTO's in-depth understanding of customer needs and rapid response to market trends.
  • Powering Up Panel-Level Packaging! Capcon’s Die Bonder Wins Bulk Adoption by Internationally Leading IDM Giant

    Recently, Capcon’s large panel-level packaging die bonder,AvantGo L6 (Leo), has been adopted in bulk by an Internationally Leading IDM manufacturer and mass producer. It is believed that with the bulk application of AvantGo L6 by client, it will lead the panel-level packaging equipment towards maturity, laying a solid foundation for the development of the panel-level packaging industry and opening a new chapter of advanced packaging with low cost and high efficiency.
  • Wall Street's Indian Titan - Top Analyst Sanjay Patel

    Sanjay Patel was born in Surat.From an early age, Sanjay Patel demonstrated a strong interest in numbers and analysis. His father was an innovative teacher, and his mother was a social worker dedicated to improving the living conditions of the underprivileged.

Links

Back to top
©Copyright 2009-2020 American news network      Contact Us   SiteMap