In 1997, the web was merely a basic mechanism to read stuff online with no interaction or capability for users besides those at their computers – this web page could only be accessed on one device you had explicitly set up – that was Web 1.0!
We currently live in the Web 2.0 age, when people may construct interactive websites with worldwide reach. Web 2.0’s interactivity paved the way for the age of social media.
One could share what’s happening in their lives via social media platforms like Facebook (or Meta), Whatsapp, Snapchat, Instagram, etc.
A.I. has the ability to digest any sort of data at a much faster pace as compared to humans. Web 3.0 or Semantic is a way by which our lives have become more secure with the coming up of such smart technologies.
Before we look ahead to the future of e-commerce beyond the present giants, we must first define Web 3.0.
What is web 3.0?
The Internet’s future is definitely web 3.0. Simply put, a decentralized ecosystem which is built on blockchain technology.
It would be a shift from the centralized mega-platforms and businesses that presently dominate the ecosystem, and supporters argue it will repair what’s wrong with today’s internet while also rectifying the decline of democracy.
Marketing experts are no longer waiting for the next big innovation that the internet offers. Instead, they’re adopting a deliberate approach to developing Web 3.0, the transcendent web, the next internet phase, and the metaverse.
Benefits provided by web 3.0 to e-commerce
Web 3.0 introduces a slew of new capabilities that help you locate what your consumers are looking for, whether on their desktop or mobile device!
Access to infinite cloud data
It will benefit the e-commerce community by giving infinite Cloud data. This will give you a protocol that allows personalized online content depending on one’s wants or preferences and from anywhere!
Providing a great shopping experience to users
Web 3.0’s goal in terms of ecommerce is to profit on the vast social web network. With new and improved techniques of analyzing internet users’ behaviors, it is important to learn more about the shopper’s individual interests (both within and without their present activity). Provide your shoppers with a highly tailored ecommerce shopping environment.
If we talk about today’s targeted advertising, it may identify that a consumer made an online search for wedding gowns. This will result in one after the other advertisement of non-specific wedding dresses. Comparing it to web 3.0, the advertisements appearing in front of the user would be much more relatable. Talking in reference to the example mentioned above, with the help of customized marketing in web 3.0, one will only be able to see dresses related to their size, age and type. This will lead to better chances of lead conversion.
Let’s take another example of movies. Suppose you are looking for options of places where you would like to watch a movie. A normal google search based on your history would show you listings of all the local cinemas. But, what happens in a web 3.0 scenario? Based on your historical data, you would see horror films playing only after 9:30 p.m. at a couple of cinemas. Why would you see such listings? Again, precise and customized data based on your searches giving you specific and to the point options. Even an individual’s language structure and behavioral data patterns may be compared to others to gain understanding.
Most services aim to gather information in a bubble, delivering some benefit in exchange for data sharing. But, they are fully dependent on user contributions. They often depend on whether the user needs to authenticate into a service before accessing them.
Web 3.0 aspires to develop an open economy for producers. It ensures alike by removing central authority and minimizing the additional cost of interacting with intermediaries or gateway services.
An open economy lives on trust, openness, and transnational transactions. Along with this, it also fosters an environment where buyers and sellers may interact directly without limitation or third-party intervention.
With Nftically’s COMEARTH, multiple stakeholders can generate value via interaction or transactions in the metaverse, such as land brands, tourists, consumers, marketers, and so on.
Finally, the future of e-commerce is far from monopolization, and although the current commerce model benefits just a few, the future of e-Commerce benefits everybody.