The internet is taking a new shape and we, as an NFT marketplace Development company are just ready! With the rationale of making people’s commercial life and social status elevated, the invention of web3, the ‘read-write-and own’ mechanism is creating history. The increasingly complex structure of Web3 invigorates many businesses to be reeled in with virtually accessible products. In this case, these commodities are NFTs and other cryptos. 

That introduction must have sparked something in your mind, and yes! This blog will be elucidating on Ecommerce into Web3, and their exciting modules on breaking the ground of traditional commerce. 

The Web3 – Into the new world of commerce!

Web3, as mentioned earlier, can be defined as the internet that allows the user to do all three basics: read, write, and own. Coined by Gavid Wood, the co-founder of Ethereum, the market’s pioneering blockchain technology. However, Web3 called out one of the major ground-breaking concepts, decentralization. This allows the business owners and the users of web3 to materialize the digital asset for profits maintaining user privacy protection. Hoping that the idea of web3 is clear, they comprise of major three things, and they are, 

• The blockchain technology that pretty much makes the web3, takes primary control of designing and developing an E-commerce, proves ownership of the assets, and most importantly they promote decentralization, throughout. 
• Cryptocurrencies are the digital money used to buy or purchase the desired assets that add to your financial security, with no intermediary parties involved in the trade. 
• Non-Fungible Tokens are digital assets that prove to be the primary source of income in the crypto market. These assets can be called receipts for the user’s ownership in the market. 

Key Elements of Web3 for E-commerce 

Moving towards the future, technology is taking a majority of space in everyone’s life clearly marking their necessity. Though Ecommerce is not a new concept, with web3’s assistance, the global commercial market is taking its next step lighting importance on users over profits. Such user-centric Web3 has defined elements for businesses and they are, 

• The information is open-sourced, i.e, everything is done on the e-commerce platform is transparent. 
• All the transactions of NFTs and the cryptocurrencies within the platform remain authentic and unedited in the blockchain. This allows the user to trace back to any data they want at any point of time. 
• Every data and metadata of the cryptographic assets traded on your Ecommerce platforms are completely under the control of the NFT holder. 

Before entering how the platforms of E-commerce with web3 are developed, we need to have a clear understanding of what actually is an E-commerce platform. 

Electronic commerce, or as we name it, Ecommerce, in simple words the trades made online, with online transactions. This business model brings in companies and other business-minded individuals to have their startup surge with the internet as their base. Utilizing physical products over the internet market shifts the user paradigm on how they shop. 

Why are they gaining vigor in today’s world of commerce?

The primary benefits of why Ecommerce with web3 among businesses is gaining popularity is because they ensure elite-level security, scalability, and privacy. Adding blockchain as fuel to your business will help you accelerate your sales multifold. Below given are some of the advantageous landscapes that as an entrepreneur you will enjoy with our prioritizing development!

• Loyalty rewards based on NFT Ecommerce

NFTs have lodged intangible ownership to the cryptographic assets, with shifting the pattern of without having to prove it every time the asset is sold. These Non-Fungible Tokens are one of the most successful and significant e-commerce ideas, for any business in the industry. That is, they allow all the ventures in monetizing their efforts with loyalty programs. With every purchase made, the loyalty programs customized and developed for the project will attract users with breathtaking perks. Unlike redeeming coupons in the physical market, with these e-commerce ideas, the user can redeem an NFT that has a predetermined monetary value. One such successful brand in the industry is Starbucks’s Odyssey. 

Launching an NFT-based e-commerce platform for brands or NFT ventures will be a trending idea in 2023. As more adoption of digital assets grows, there is a much more promising future for the NFT marketplaces.

• Blockchain-based Ecommerce

Decentralization concept is getting bigger and bigger with every business and brand in the physical world entering the web3. This is all thanks to adopting cryptocurrencies and NFTs, as normal as any fiat transaction. With blockchain-based Ecommerce developed, the future of brands and businesses can bring innovation in their products directly to the users. With this concept gaining vigor among the cryptopreneurs, investing in the NFTs and blockchains will unleash umpteen amount of webshops simply with customizable dApps. 

• Metaverse-based user experience

Metaverse is gaining the spotlight for its intense and advanced technological usage. That is AI, AR-VR, cloud computing, 3D space, etc., are already giving users limitless use cases for venturing into the web3 with some trailblazing projects. Metaverse, as a virtual world allows users to experience the world in a different environment, such as they can transport to anywhere in the world without having to move while earning millions of dollars. This digital universe concept has made the possibility of having e-commerce businesses utilize their potential to proffer the best in the world experience. With this in mind, the users can not just scroll through but also have an exhilarating almost close-to-reality experience while shopping, having fun, and interacting with other people on the E-commerce platform. Additionally, they also have all the web3 platforms developed to be sturdy with their authentication processes. 

Foregrounding features of AppDupe’s E-commerce development 

• Smart navigation of products 
• Real-time Status tracking of NFTs
• Intelligent chatbots
• Multiple payment gateway integrations
• User Wishlist 
• Social Media Integration 
• Push alerts

Perks as you launch Web3 Ecommerce platform 

• Increased Brand awareness 
• Faster Sales process
• Customized shopping experience 
• Target-driven marketing 
• Best-of-best user interface 

Development process of our E-commerce platform 

• Immersive Analysis 
• Designing and implementing
• User-Interface (UI/UX) development process 
• Beta Testing the E-commerce platform 
• Product Deployment 

How the future of E-commerce is to be Impacted?

Artificial Intelligence is gaining the utmost importance among the public for various reasons. Ranging from small-scale businesses to luxury brands, everyone is taking advantage of technology for their burgeoning benefits. This is due to the fact that AI is a great addition to the web3 platform to identify complex patterns in the data recorded of customers. This eventually assists the business owner in yielding novel campaigns that will prove user requirements at just a click!

Web3 has just begun its journey, and just in its infancy, three has rolled out a number of opportunities to make profits in a much rare and unique way. The following are some of the web3 E-commerce platform benefits that seem bright for investing today. 

• Tokengated commerce for retail markets
• DTC industries like Consumer packaged goods (CPG)
• Omnichannel marketing and personalization 
• Customer acquisition 
• Online business applications, and several more. 

Wherefore AppDupe?

The critical role played by the decentralizing model for businesses, integrated with smart contracts in the upcoming years will define commerce. Providing ownership to the owner, not only rakes millions to investors but also, conventional businesses, joint business ventures, and every other entrepreneurs. 

With AppDupe being allied with your venture to launch the Web3 Ecommerce platform ensures your brand has swift loading time, an enticing user interface, exponentially increased sales with an easy checkout process, armed navigation with ultra-fluidness, and an around-the-clock working technical support team. Want to extract a part of technology for yourself? Get our eCommerce consultation today for your business idea!