Web 3.0 at the service of e-merchants and customers

Beyond words and noises, how can web 3.0 technologies (NFT, virtual reality, augmented reality, etc.) solve very concrete business problems and create value for consumers?

This was the topic of our special web 3.0 webinar with Erwan Krotoff, co-founder of Retail VRGaspard Randon de Grolier, CEO La Nouvelle Cave of the Casino Group and Cécile Delage, Senior Manager of Omnichannel / Web3.0 transformation at BearingPoint.

Web 3.0, NFT, metaverse… small update:

Metaverse is an immersive virtual universe, with its own economy, in which users can interact through avatars (or virtual doubles) and digital objects. The Metaverse is also a concept considered by some to be the successor to the current Internet. If there are several definitions of the metaverse, we can nevertheless cite some of its characteristics. It is at the crossroads of 3 main themes:

  • Comprehensive solutions (augmented reality – AR, virtual reality – VR, mixed reality – MR);
  • Digital platforms (M-Platforms or Digital Lands such as Roblox, The Sandbox, Decentraland);
  • Web 3.0 (blockchain & NFT).

Basics of web 3.0:

Web 3.0 is a new version of the Internet – the successor to Web 1.0 and 2.0 – that brings together several decentralized uses and services that operate on public blockchains.

Web version 1, 2, 3… what does it really mean?

Web 1.0 or the Internet of observation and reading: a version that allowed access to information without being able to easily create content themselves.

Web 2.0 or participatory web: a social version, enhanced by social networks. This web version offers innovative interfaces that make it easy for the uninitiated to use the web. Contributions are simpler and more interactive.

Web 3.0: Heralded as the future of the Internet, web 3.0 refers to the next generation of decentralized Internet technology that is not controlled or regulated by a central authority.

Blockchain is a method of storing data online and can be compared to a ledger of transactions that can be freely accessed by anyone with internet access.

In web 3, users can maintain a digital wallet often called a web 3 wallet. This wallet allows you to store and protect your cryptocurrencies, NFT, tokens, etc. Cryptocurrencies are digital currencies issued on a blockchain, among the most popular being Bitcoin.

As for NFTs, (non-fungible tokens) they are unique and indivisible tokens. An NFT makes it possible to create a unique digital file, to which a certificate of authenticity is linked. An intangible digital sign can be associated with a collection, a virtual object (clothes, shoes, etc.), an audio file or a painting, etc.

What opportunities in web 3.0 for e-marketers?

Web 3.0, which promises to be a new way of interaction between Internet users, is gradually bringing out new use cases in retail. We see more and more brands and distributors entering the metaverse with a “test and learn” approach such as Balenciaga, Nike, Carrefour or Gucci). The possibilities in the metaverse, and more broadly in web 3 are manifold. Here are some examples:

  • Acquiring customers and expanding your audience;
  • Create new touchpoints with its audience and offer new experiences (eg the Casino group’s New Cellar with retail VR);
  • Strengthening loyalty and the notion of community;
  • Improving customer knowledge;
  • Develop its brand image and secure a presence in these emerging worlds.

Some concrete examples of Web 3.0 e-commerce initiatives:

  • Balenciaga x Fortnite (audience buy): the luxury brand offers clothing and items for netizens. A way to expand its audience and gain visibility among several million gamers, and more specifically the Z and Alpha generations.
  • Carrefour x The Sandbox (brand): Carrefour bought land in The Sandbox metaverse in early 2022. Since then it has been used to conduct job interviews.
  • Olympia (business model development): the performance hall has offered a limited run of 250 NFTs that will grant access to VIP status and exclusive benefits, for life!
  • Starbucks Oddysey (customer knowledge): the coffee chain offers its customers a loyalty program combined with NFT. Purchasing assets will allow consumers to unlock exclusive experiences and rewards.
  • The new basement of the Casino Group (customer experience): The New Cellar gives consumers access to multiple wine references thanks to innovations and digital technologies such as augmented reality. He also proposed 15 NFT which correspond to a bottle or case of a grand cru, which is kept by Maison Bouey.
And consumers?

For consumers and users of web 3, these technologies (NFT, wallet) offer several opportunities such as:

  • Guarantee the authenticity of products in the world of luxury;
  • To guarantee ownership, especially in the collection universe;
  • Participate in virtual events;
  • Access unique experiences or products.

The way we interact with the internet is changing. This shift in internet usage offers companies, brands and consumers new opportunities. Web 3.0, metaverse, NFT… these technologies are causing a lot of ink to flow and are already subject to numerous tests, whether in retail giants such as Carrefour or the Casino group, whether ready-to-wear with Gap or luxury with Balenciaga. . While these trends have enjoyed real enthusiasm and are being closely followed, they are still not fully integrated, especially by the general public, and their legal framework is still very unclear. Therefore, the future of these concepts is not all determined, especially in this period of economic uncertainty.

To learn more about these technologies and the connectivity offerings that come from them, find the replay of the webinar with Retail VR, BearingPoint and La Nouvelle Cave (casino group).

Sorry, this content is for members only.

If you are a member, you can use it by simply logging into your MyFEVAD account. If you are not a member and would like information on FEVAD membership, do not hesitate to contact us at contact@fevad.com.

Leave a Comment