NFTs: How is digital commerce in Web3 changing
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Digital commerce is evolving by leaps and bounds, and the advent of Web3, with its technological innovations such as blockchain and non-fungible tokens (NFTs), is revolutionising the way we interact, buy and sell online. NFTs have gained prominence for their ability to transform digital assets into unique and verifiable goods, opening new doors in e-commerce.
Web3 represents the next generation of the internet, where decentralisation and ownership are key pillars. Unlike Web2, where large platforms control data and transactions, Web3 allows users to own their digital assets thanks to blockchain technology.
In this context, NFTs are presented as unique pieces of information stored on a blockchain that certify the ownership of an asset. Although initially associated with digital artworks, NFTs have expanded their reach into virtual goods, music, fashion, and even physical goods.
The impact of NFTs on digital commerce
NFTs are changing digital commerce in several key ways:
Real property and digital scarcity
In the Web2 era, ownership of digital assets was diffuse. For example, buying a song or skin in a video game did not actually grant rights to the asset. With NFTs, buyers get a verifiable proof of ownership, which creates a sense of authenticity and exclusivity.
In digital commerce, this digital scarcity is being used by brands and creators to offer limited products, such as exclusive collectibles. This adds significant value to the product, increasing its attractiveness to consumers.
New business models for creators
NFTs are empowering creators by cutting out middlemen. Artists, musicians and designers can now sell directly to their audiences, and thanks to smart contracts, they can receive royalties every time their NFT changes hands.
In digital commerce, this means that creators could have a continuous, transparent revenue stream, which was not possible in the traditional digital distribution model.
Personalised experiences and customer loyalty
Brands are using NFTs to deliver unique customer experiences. For example, an NFT can serve as an exclusive ticket to events, pre-launch access to products or personalised rewards for loyal customers.
This not only strengthens the relationship between brands and consumers, but also transforms traditional loyalty programmes into dynamic and personalised experiences.
Highlighted use cases in NFT trading
- Video games and virtual worlds
In the video game sector, NFTs are redefining the in-game economy. Players can buy, sell and trade unique items that have value both inside and outside the game. Platforms such as Decentraland or The Sandbox allow users to own virtual land represented as NFTs, creating new business opportunities.
2. Art and digital collecting
The digital art market has exploded thanks to NFTs. Artists such as Beeple have sold works for millions of dollars, while collectors enjoy the security of owning unique pieces.
Discover TU Gallery: marketplace for buying and selling NFTs
Gallery is a marketplace that combines web3 and traditional technologies for the creation, purchase and sale of NFTs with the backing of the Polygon network. Its main value proposition lies in offering tangible utilities and a simple onboarding process for creators, including email registration, authentication, connection to a Metamask wallet and collection creation.
Collections are designed off-chain through an intuitive interface that allows previewing and managing NFTs without the need for programming. NFTs are generated to the ERC-721 standard and are published on the Blockchain upon completion of the process, keeping the data private until publication.
Gallery facilitates the connection between artists and buyers, offering a wide variety of NFTs in different categories in an accessible and functional environment, where each collectible includes its digital counterpart backed by Blockchain.
Publicista apasionado por la innovación, la tecnología y el deporte. En búsqueda constante de intentar dejar un mundo mejor con valores e igualdad entre las personas. Actualmente trabajo en el equipo de Product Marketing de CDO en Telefónica Innovación Digital.
