Web3 is changing the future of customer engagement

As businesses enter and explore the world of web3, the biggest question we hear is: “where do I even begin?”

It’s no secret that web3 is complicated. That’s what we hear time and time again as the main barrier to entry for businesses wanting to enter the space. To make sure you’re fully informed before venturing into web3, we’ve created a robust resource to usher you in with ease.

Our new whitepaper Changing the game: web3 and the future of customer engagement clearly outlines what web3 is, how it can benefit your business and customers, and how to easily enter the space. Take a look at the key topics here and get a more in-depth view of how web3 would redefine customer engagement for your businesses in the full whitepaper.

The internet r/evolution

Technology is constantly evolving and improving based on the evolving needs of humans. The internet is no different. The first phase of the internet—known as web1—focused on providing easy access to information through static content, while web2 focused on user interactivity and scalability. Web2 was the stepping stool that brought us to web3. Web3 is the decentralized internet built to support greater personalization, flexibility, and ownership. 

The principles and promises of web3

Web3 was not built to replace web2 entirely but rather to build upon it and respond to its problems. The driving factors for all things web3 follow these criteria:

• Provide owned value for users;
• Give creators credit;
• Offer control and flexibility for users;
• Empower and enable communities;
• Grant permissionless participation for all.

Web3 for users

Web3 revolutionizes how users interact with the digital world by giving users complete control of their online identities and true ownership over their digital assets. This gives more power to the user and ownership that is verifiable and undeniable due to the decentralized nature of web3. Some examples of how this applied to digital assets include:

• Buy, sell, and trade unique NFTs such as artwork, collectibles, and in-game items.
• Own and verify the authenticity of assets, such as concert tickets, real estate, and luxury goods.
• Access exclusive digital experiences and content, such as virtual reality experiences and live events.

Web3 for business

Industries like gaming, entertainment, and consumer retail are already starting to adopt web3 technology to provide their users with flexibility and unlock new opportunities for business strategies, such as:

• Creating a new stream of revenue with royalties
• Redefining customer retention with flexible loyalty programs
• Multiplying user engagement with gamified experiences

Web3 is the key to unlocking the full potential of the internet, allowing companies and creators to create new products, experiences, and business models that empower customers and communities.

The challenges of entering web3

Despite the benefits and potential of web3, its complexity hinders adoption. Some of the barriers include:

• Complexity of the technology for users stymies mass adoption. 
• No user-friendly solutions for non-technical users to build on web3. 
• A lack of standardization and evolving nature of web3 technology.
• Costly and time-consuming investment without guaranteed ROI.

If you want to avoid these challenges and start building in web3 you’ll have to read on to find out more. Download your copy of Changing the game: web3 and the future of customer engagement