How Will Web3 Change Our Daily Lives?
In a world where the general public is getting more and more into web3 games and is experiencing rapid adoption, whether you're already riding the wave or not, here are some thoughts on how web3 will change our daily lives.
The web3, an upheaval
Web3 is the vision of a decentralized internet in which digital relationships between companies and individuals are direct, disintermediated, not dependent on platforms or personal data collection but based on tokenization, NFTs, and stakeholder wallet interactions through blockchain technology. The web3 is the ability to move in the digital space but also physically with an identity, a kind of keychain, which is called a wallet and is often compared to a digital purse or a digital backpack. The web3 is therefore about moving from one site to another with this purse or digital backpack that is the wallet and that defines our digital personality. It allows us to connect to all possible spaces while keeping control over our data and having access to extremely rich engagement mechanisms. The web3 is thus this interoperability which is allowed by the wallets and the tokens which are all based on the same standards. These allow us today and even more tomorrow to connect to social networks, connect to the metaverse, and to our favorite companies/communities.
How do brands understand web3?
Many brands have understood the current stakes, namely the need to add intrinsic value as well as to improve traceability on the internet. Indeed, before these brands could only sell in the real world but for a little while, they can also sell on the internet. There are many aspects and many issues. It's not just the possibility of having a new line of products that are digital and that could represent a significant part of tomorrow's sales. Of course, it's an element and everyone sees that possibility. But it is much more complex because it is necessary to bring differentiation in the design and the marketing of specific products or services. This is risky and we see in particular that in the niche that is still NFTs, some brands are doing well but there are still many more that are missing out. Why? Because a product or a service must be the result of creation and therefore of a lot of know-how. This know-how cannot be invented. The web3 brands and collections that have gathered all the right ingredients and have been successful are not numerous.
So brands see the opportunity to start experimenting with revenue generation through purely digital objects, but they also see all the possibilities that are enabled by interoperability, the notion of digital scarcity, the shift in personal data, and relationship management. This implies several types of NFTs: there is the NFT that is put on sale because it is the product and there is the NFT that will accompany something we have already bought or experienced. Indeed, if we are part of a program or a club, for example, this can take the form of an NFT which is not necessarily sold but which can on the other hand lower costs or generate other revenues in a direct way later on. So brands are starting to understand that this is not a small subject, that web3 is here to stay, and that it will profoundly change the way we interact and therefore the type of interface and tools we will have to get used to.
Understand the problems of web2
The extension of reality is enabled by web3 and changes the relationship between the person buying and the brand selling.
Arianee's Super NFTs, for example, which is enriched NFTs, are the world's most advanced ERC-721 format in any market. It is a format written, created, and deployed by Arianee since 2019. The functionality of these NFTs is quite exceptional.
Today, there are two ways to interact with customers via a CRM in the digital domain:
- The "first-party data", i.e. a collection of data concerning the user (his email, his phone number, his social-demographic data) followed by a storage within a database and then a treatment in order to segment. The major disadvantage of this method is that there are possible copies of databases. We all have in mind the hacking of the OpenSea database recently and Ledger in June 2020. Nobody can protect databases properly. So every time we give out personal data, there is a non-negligible chance that the companies that have it will no longer be able to control it and put us at risk of phishing.
- The "third-party data" is very simple to understand. It is the use of someone else's data to reach a user. This third-party data poses a lot of problems even though it continues to anchor the digital supremacy of a few companies in the world that are very centralized and decide everything for everyone. Moreover, it is becoming more and more expensive to use and less and less efficient. We can bet that in 4 years it will be 4 times more expensive and 4 times less efficient.
How is it possible to change the stakeholder relationships via web3?
There is an alternative to first-party data and third-party data that we could call "zero-party data" which are tokens and NFTs. It is now possible via web3 to associate our wallet with these tokens and it certifies our interaction with another stakeholder. So, from now on, and thanks to web3, our data is not in a centralized database but in our hands. This solves the problem of storage and where the data is. It also solves the problem of centralization of systems since the link between the issuer of the token or the NFT and the user is direct. The idea is that in all interaction surfaces we can imagine a new form of disintermediated digital relations based on decentralization. It's already crazy in terms of data protection but as tokens and NFTs are natively primitives that we can evolve, gamify and some of which can have or take value depending on the dynamics and well the position of the one who has a token is very different from the one who gave his email or his birth date.
Someone who has a token or NFT is engaged and wants to have something much more proactive and a stronger relationship with the brand.
During a drop of 10,000 NFTs to the most engaged Yves Saint Laurent beauty fans and for the first time in the history of the web3, decentralized messages were sent to the wallets of these 10,000 people via transactions on Polygon. 40% of them clicked on the call-to-action to participate in the next drop.
Super NFTs: a concrete example of the web3 revolution
They have a lot of features that soulbound tokens (SBT) don't have, which are a new type of NFT that we can't exchange anymore and that we keep on our address, and they go very well with zero-knowledge proof, which is a process to guarantee our privacy because if we can't delete them anymore, then how do we preserve our privacy? These are issues that developers are dealing with through Sismo or other initiatives of this kind.
What do Arianee's Super NFTs bring to the table that has superpowers and combine the best of web2 and web3?
There are several issues that are not addressed by NFTs that have been built into the Arianee open-source protocol from the beginning. What's pretty cool and the founders are very proud of this is that what started being written and then developed in 2018 and then recently deployed on Polygon is now what all NFTs collections dream of.
The first thing is the ability to retrieve an NFT in a different way. Indeed, today there are several use cases of an NFT. When we buy an NFT in crypto, there is no obstacle: we connect our wallet, pay, and then the wallet retrieves the NFT. It's simple, clear, and neat. But as we've been hearing since the beginning of this article and seeing it everywhere, there are plenty of cases where it doesn't happen like that. There are plenty of cases where we buy the NFT but we don't have a wallet yet and so maybe we paid that NFT in fiat. There are also possibilities that we get the NFT back either because we went to an event or because we bought something or because we entered a program. In all of these cases, the question of "how are we going to transfer the NFT?" is critical because it's the takeover question. The first feature implemented is the "asynchronous transfer" which allows via the same link to see the content of the data linked to the NFT, to enter an interface (usually a mobile application accessible via Apple Store or Google Play), to generate a non-custodial wallet on the blockchain and at the request of the user, initiate the transfer of the NFT from the issuer to the new owner. This ability to put in the same link visualization, wallet creation, and transfer generation (an airdrop in a way), is one of the first specificities of these Super NFTs which, you certainly start to imagine as you read, can solve a lot of problems.
The second thing is the ability to time-stamp this NFT. That is to say, to add events that will change its status, its state and trace the history of what happened to it but also allow everyone to appreciate the "state of his life". For example, we buy an NFT from a purely digital collection but this NFT gives us the right to access an exclusive t-shirt. Instead of going to burn our NFT, we will receive a timestamp on the NFT that validates the fact that I have claimed the t-shirt and so if someone were to buy this NFT tomorrow, that person is aware that the t-shirt has already been distributed. The possibilities with this timestamp are incredible because it all works through open APIs and so anybody can come in and interact. This means that anyone can come and offer timestamping services to this base of NFT owners. We can look at it from the perspective of the brand that distributes and will be able to have a dynamic NFT, from the perspective of the user who no longer has to do baroque things like burning an NFT to get something, or from the perspective of the developer community who has access to open documentation with a clear and transparent system, either way, this timestamping functionality is superb.
Thanks to web3 we are building a new kind of decentralized database and people who have wallets with tokens in them without having shared any personal information but who are super engaged and want to develop a digital relationship with another stakeholder like a brand.
Web3 kills two birds with one stone by addressing a structural problem of the web today concerning the protection of personal data and also by proposing more engaging and positive paths. All this is possible because databases become bases of "super users" who want to go to the next step.
The level of web3 tools is progressing and this allows those who do not have the know-how to use them.
Disclaimer: All products and projects listed in this article are not endorsements and are provided for informational purposes only.
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