Web 3 is simply a new iteration of the internet, underpinned by blockchain technology, that moves the experience from read and write, to read, write and own. Think of it like this – the internet moved from blogs you could only read, to being able to interact with others through social media. Now, in addition to, and in some cases, in replace of your existing experience, you will be able to own your assets online – be it your handle, your data, your in-game items and so on.

NFTs or Non-Fungible Tokens is digital infrastructure to easily prove & transfer ownership. At current, the technology is most popularly used and affiliated with art & collectibles. NFTs however, have much broader applications and can be applied to other areas like books and music, membership-based experiences, digital identity, real estate, synthetics, and the list goes on.

NFTs have value for economical, social & technological reasons. NFTs establish digital scarcity & introduces a familiar supply and demand dynamic to digital goods and services – much like the stock market. Web 3 culture inspires trade, as tangibles and intangibles that were once thought of as “untradable”, can now be listed, sold, and resold on open marketplaces. And at the smart contract level, NFTs allow for executable decisions without the need for human intervention – for example, pay X% of price as royalties to the original creator, every time Y is sold. And remember, value is determined by “us”, not “me”, so “they” might pay, while “I” might not.

It is a new way to engage with customers, monetize your brand and improve business processes. In some cases, leveraging the technology will be how you avoid disruption in a decentralised future.

The honest answer is, it depends, fill out this form and let’s talk

We experiment with Web 3 tools & concepts to bring value to our communities and clients.