With the proliferation of blockchain-based technologies, users’ internet experience is also improving. At this point, Web3 has recently come to the fore. Web3, which offers many important advantages to users at the point of internet experience, also increases the customer experience. So how does Web3 improve customer experience when it is one of the popular areas of the last period and many Web2 companies have started to invest in Web3?
The importance of Blockchain in Web 3.0
Web3 and Customer Experience
Before discussing the impact of web3 on customer experience, it is useful to define web3 and what it means. The term web3 (or web 3.0) was first coined in 2014 by Ethereum co-founder Gavin Wood. Web 1.0, the first iteration of the internet, allowed only one website to be read or viewed. Web2 was the web as we know it today. On these websites we were able to connect with others through social media platforms and much more. Web3 is decentralized and is built, operated and owned by its users. In short, unlike Web 1 or Web 2, Web3 gives power to users rather than companies. In this context, with a number of new features, Web3 helps businesses serve their customers better and helps businesses deliver more value to their customers.
More Control Over User Data
Today, many users are concerned about the security of their data on the internet. At the same time, customers are complaining about the data they willingly or unwillingly gave to websites in the web2 era. Web3 adopts a decentralized structure that offers transparency while maintaining enhanced privacy. E-commerce, SaaS (Software as a Service) and other service-based businesses can benefit from Web3’s decentralized environment. This allows them to maintain a secure database for storing customer data.
Exploring the World of SaaS: Understanding Software as a Service and its Various Applications
In addition to increased privacy, Web3 can bring back the control that internet users have long dreamed of. By providing a platform for communities based on Decentralized Autonomous Organizations (DAOs), Web3 could give customers a voice in brand decisions. DAOs allow community members to vote on every decision a brand makes. In this way, brands can interact more with customers and create a more dynamic community, unlike Web2.
Advanced Payment Services with Web3
With the advancement of technology, users’ payment habits have changed considerably. Web3 brings new alternatives to payments. Brands can use cryptocurrencies as a means of payment in the Web3 era. Cryptocurrencies mean that the financial services industry could be among the first to adopt crypto, Web3 and other core technologies. Financial services have recently hosted many Blockchain-based financial services such as decentralized finance (DeFi) projects, crypto lenders, insurance firms and cryptocurrency wallets. In addition, these projects continue to be rapidly adopted by users and customers.
In this context, a service that can benefit from Web3 developments is the payment service. With Web3, smart contract-based payment gateways that can be useful for various businesses can be used. In this way, customers can use their digital assets to purchase different services and securely use cryptocurrencies as a means of payment.
New Alternatives for Customers with Digital Collections
Web3 also opens a new door to NFTs, which are called digital collections. NFT, which exploded especially in 2021, was chosen as the word of the year for 2021 in Collins Dictionary. With many brands discovering their use, NFTs have become a new craze in the industry. Although technology giant Amazon continues its plans to create a marketplace for NFTs, many companies outside of technology are also working in this field. These big companies include brands such as Gucci, Nike, Louis Vuitton and Coca-Cola. Nike, one of the world’s largest sportswear brands, launched the .Swoosh platform for digital collectibles.
Another way for businesses to engage with their customers, NFTs are growing in popularity every day, but with Web3 they will reach a wider audience. With NFTs, brands can create a community where customers dedicate themselves to their services or products. In this way, they can also create a sense of loyalty among their customers through various NFT-based incentives.
Opening the Doors to a New Shopping Experience
Meta, the umbrella company of Facebook, Instagram and WhatsApp, has recently been making significant investments in the metaverse. Just like NFTs, metaverse, one of the popular topics of recent years, is also changing the shopping experience of customers. Users can have an immersive shopping experience with Web3. If you need help for metaverse or web3 consulting just visit metaversa.
Many companies, especially technology giant Apple, are working on their own Virtual Reality (VR) and Augmented Reality (AR) products. With these products, new experiences are being opened to users. Especially with the widespread use of Web3, the virtual world will replace the real world in shopping.
Web3 Social Media Platforms
For consumers, one of the best things Web3 will offer is the ability to build a passionate community around brands. Social media platforms, which are very popular today, also play a vital role for Web3. With Web3, brands can offer decentralized social spaces where they can nurture their customer base.
The new platforms also allow them to interact with communities and share experiences about specific products or services. In addition to all these, enhanced security and data privacy will be among the most important gains for customers.
Marketplace Experiences Are Being Recreated
Web3 redefines experiences as it changes habits. With Web3, the new version of the Internet, the rules are changing for both businesses and consumers. By providing a decentralized and secure environment where consumers can control their data, a more valuable customer experience is also being built. With Web3, consumers can enjoy seamless shopping experiences and more secure payment gateways. In the new era, businesses can build dynamic consumer communities, increase loyalty and trust, and expand their customer base.
Would you like to start your own Web3 journey? Contact Enkronos team today.