NFT and Blockchain technology is becoming commonly used tool after the hype is over; it is becoming part of our everyday life, and no one is even aware of how digital services work. Technological progress is providing ever more complex answers to problems. This naturally creates technical challenges for service providers because users expect them to provide better and better solutions.
In our digital world, users are not interested in how technology works. They care about making things that matter to their work better. So they want more convenient, simpler, and more usable services in almost every area. Some areas will see considerable changes in the next 4–5 years, and others already show signs of change.
The banking and insurance markets are about to explode; everyone is talking about artificial intelligence, while we are still only seeing the first signs of digitalization.
The field of commerce, including e-commerce, the changes are also underway. The hype has shaken up the traditional e-commerce industry and opened new opportunities for merchants and shoppers. After all the hype, the solutions that will be successful in the consolidation phase will benefit users. This is also the case with the generalization of blockchain technology, as digital collections (NFT) are becoming increasingly popular in e-commerce. The main advantage of NFTs with these features is that they provide e-shops with new sales opportunities by offering previously complicated solutions to integrate into their systems.
What is E-commerce 2.0?
The fact that Shopify, already the largest e-commerce platform, also offers NFT solutions for webshops has opened up the possibility for WEB 3 solutions to enter this field. With the add-ons available here, you can now manage NFTs as products and add functional add-ons. What does it mean for an online shop to add such digital solutions? It gives you the ability to exploit countless new opportunities.
Webshops with new functionalities become capable:
- To issue and sell their NFTs and digital collectibles.
- Release free digital collectibles to reward their customers for purchase, commitment, and loyalty.
- To implement digital gateways to offer exclusive products, discounts, or early access to product launches based on ownership of certain NFTs.
- To organize exclusive events, brand loyalty-building programs, and discounts
- Automate simple discount solutions by simply authenticating users
- To reach out to the crypto world and introduce crypto-based payments
- Segment NFT owners
- Implement digital replicas of branded products
In e-commerce, NFTs have the potential to revolutionize the way goods are bought, sold, and owned. They guarantee greater security and authenticity than any previous solution, as they are stored on a tamper-proof blockchain. This means that NFTs can be used to prove the ownership and authenticity of any product or even service.
Surprisingly, the new technology also offers new tracking and traceability features in inventory management that can help e-commerce businesses manage their inventory more efficiently and accurately. It can track products and their movement through the supply chain, reducing stock-out risk and increasing overall efficiency.
Secure transaction records with smart contracts: for example, if your invoicing is based on a blockchain network, it allows you to record authenticated transactions. Instead of having to search through databases, which used to be cumbersome, tracking the history of transactions and providing transparency and security to the platform becomes easier. Not only does it reduce processing inefficiencies, but it also ensures the security and integrity of transactions.
The new type of NFT solutions can also play an essential role in authentication. Digital collectibles solutions can ensure the authenticity of products by assigning unique tokens to physical products. It is useful for verifíing the authenticity of products and building trust and confidence with suppliers and customers. The new possibilities can help prevent the sale of counterfeit or efficiently counterfeited products.
NFTs can also bridge the gap between the digital and physical worlds. For example, a limited edition fashion item can be purchased as an NFT, giving exclusive access to the physical version of that product. This convergence of digital and physical ownership opens new opportunities for unique and personalized products, creating a deeper connection between brands and consumers.
Digital access and identification
Digitally collectible NFTs are great for rewarding loyal customers and giving customers different opportunities, bonuses, and discounts.
On sites where we, in turn, serve salespeople, digital identification is essential. The best solution for these is to use digital gates. In this case, all the data, purchases, and bonuses of the users can be put on the “access card” that carries out the digital identification. Customers can then be easily profiled, grouped, and rewarded accordingly.
New solutions are the best way to build VIP sales networks, unique customer communities, or customized solutions for high-value individual products. All these can be easily linked to communities that specifically require this kind of exclusivity and discretion.
Digital solutions can help our marketing campaigns and add value to our products by offering more, better, or more exclusivity than the competition.
Various new types of loyalty programs can be built with digital capabilities, encouraging customers to make repeat purchases and increasing customer retention.
The concept of the Galaxis platform also builds on the fact that the technology and adoption of NFTs will continue to evolve: enabling e-commerce platforms to leverage the potential of WEB3 to improve the shopping experience and to help improve the efficiency of my e-commerce with digital collectibles features.
Written by Tamas Peter Turcsan
For legal purposes, we have to include this disclaimer. This, of course, doesn’t mean that we won’t do our absolute best to make every feature possible, but since this is new technology and new legal territory, we need to make sure that the terms and conditions are in order.
Galaxis / Ether Cards makes no representation, warranty, or undertaking, express or implied, as to the accuracy, reliability, completeness, or reasonableness of the information in any posts. Any assumptions, opinions, and details expressed in any Galaxis / Ether Cards blog or community posts constitute Galaxis / Ether Card’s judgement as of the date hereof and are subject to change without notice. Any projections or claims contained in the information are based on a number of assumptions, including, but not limited to, market conditions and the current status of Galaxis / Ether Cards, and there can be no guarantee that any projected outcomes will be achieved.
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