Web 3.0, The Metaverse and eCommerce

Many businesses, organizations and individuals are asking what is the difference between Web 3.0 and the metaverse? What do I need to do to prepare for the next version of the web? How will this new technology improve e-commerce? 
A point of debate over Web 3.0 is who will own and control this next version of the web? Some pundits point to the role of decentralization, distributed ledgers and blockchain in returning control and ownership of data to users, while others believe the involvement of investors and big firms will have the most influence in Web 3.0 projects. The answer likely rests somewhere in between. 

The Evolution of Commerce in Web 3.0

How do You Prepare for Web 3.0 and the Metaverse

So how does your business need to prepare for Web 3.0? Becoming familiar with and delivering 3D and AR experiences today is a good first step.

Creating “digital twins” for the metaverse and enabling customers to interact with your products through 3D and AR experiences in the Web 2.0 world is good conditioning for future Web 3.0 interactions.

Beyond 3D and AR, AI and machine learning will play a critical role in Web 3.0, with natural language processing AI-based technologies that enable computers to learn, understand and produce content in human languages in particular enabling a wide range of applications in this new environment.

Furthermore, AI and machine learning can help deliver the personalized, intuitive experiences that customers demand in the modern Web 3.0 powered marketplace. Integrating blockchain into your environment is also key to success in the Web 3.0.
 
The logic and data of applications running in the blockchain are immediately more transparent and traceable, expediting the identification of errors or misuse, while the complexities that challenge simple processes such as insurance claims can be all but eradicated.

The Benefits of Web 3.0 for your Business

Web 3.0 promises a fundamental shift on the internet, with a significant focus on user privacy, a problem that has been discussed for a long time but has yet to be effectively addressed. Unlike Web 2.0, which used the internet as a platform for developing apps, Web 3.0 uses blockchain technology to power the internet.

Storing customer data on blockchain decentralizes it and makes its use by businesses transparent, ostensibly protecting it from hacking. Returning data ownership to customers has the potential to destabilize the tech industry since many tech giants would lose access to the data that has given them an advantage over their competitors.  
 
Visitors to your website will have a better login experience thanks to blockchain technology. Consider how many times you’ve used your Facebook profile to sign in to websites. While Facebook already owns your user information, blockchain technology uses the same concept.

The difference is that nobody but you owns your data with blockchain. From a commercial aspect, your customers will still be able to sign in easily on your website, and you won’t have to worry about securing their data for them because it’s already more secure. Because blockchain technology is known for its high-security requirements, Web 3.0 could potentially help to avoid hacking. Blockchain, according to IBM, is unlikely to be hacked due to end-to-end encryption of documents.
 
Another layer of security that prevents hackers from assaulting your website is anonymizing data and demanding authorization to view it. Blockchain is already being used for security by companies such as Apple, Google, and Facebook.

Web 3.0 promises to improve consumer privacy, making prospects more comfortable using your website, and new technologies like AI, ML, and VR will combine to create a 3D experience that blurs the barriers between digital content and actual physical goods, benefiting both businesses and consumers.

eCommerce & NFT's

Luxury brands are now coming to the NFT space. The amalgamation of high fashion and blockchain has started to create a revolution in the fashion industry. The set includes physical assets like retail clothing and other accessories along with their digital companions as NFTs. The merger of technology like NFT and augmented reality with physical couture has unveiled a new line of digital apparel as well as new digital shopping experiences.

Art, Sport and More

NFTs play a much larger role in eCommerce than just art and luxury brands. Authentication and supply chain management are burgeoning use cases for NFTs.  They can be used to ensure that the product you are purchasing is authentic. Since the blockchain can permanently store information about the product, checking for rarity and authenticity will soon be a thing on physical products too.  Also, they can also be used to store information about the manufacturing process, ensuring that everything is fair trade. Their applications don’t stop at consumer products either. There have already been numerous companies successfully using NFTs for industrial design prototyping purposes. 

0 %
Of US consumers aged 18-35 demand a personalized shopping experience
0 %
Returns reduction is estimated just by using AR on a website
0 %
Of US customers won’t recommend a business with a poorly designed website on mobile

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