The introduction of Web 3.0 (Web3) poses a significant impact and transforms how businesses operate. In this post, we’ll look at the key aspects that drive Web 3.0, and the most vivid Web3 examples and technologies businesses may use to realize its full potential.
The wave of Web 3.0 goes far more integral in every industry than anyone would have imagined. First, it is thought to be all about cryptocurrencies but as time passes we are seeing a whole new level of use domains. Web 3.0 will cryptographically connect data from individuals, businesses, and machines, with machine learning algorithms and integrate with other technologies like IoT, resulting in the rise of fundamentally whole new markets and effective business models.
We can imagine that the future impact of Web 3.0 is undeniable. So, now one question comes to light: which business models will stick to the code of providing long-lasting solutions? And are old business models going to survive in this tsunami of technologies? And what new business models are we about to see? Here we will try to figure out 10 possible Web3 business model ideas covering the answer to these 3 questions. But for a friendly reminder, here we are, skipping all the general intro to web3.0 and directly diving into the business opportunities that it provides. Let’s get you started.
Below are the best examples of Web3 business models
- Metaverse For Remote Collaboration
- Sports Social Network and Analytics Platform
- Event Ticketing Marketplace
- Gamified App for Business
Here is The List of Best Web3 Business Investment Opportunities & Best Ideas for 2022
Web3.0 is remarkably evolving the finance industry from the ground up. It breaks up the traditional shackles of lending and borrowing, giving birth to new business opportunities.
With the help of blockchain, Web3.o finally allows consumer to use their credit at their scale. The new business model for finance is known as Defi, based on the true concepts of decentralization of the finance industry.
Defi allows certain web3 startups to encourage investing in stable coins and offer them incentive interest rates as much as 10% or higher, and annual yields between 5% and 7%, issued in the asset saved. Some of these startups are Celsius and Compound Finance.
This evolution in finance cuts the traditional banking ills.
In the traditional curriculum, financial institutions like banks can lend more than they have on hand. They do this to maintain a fraction of ledger liquidity. But, it is a gamble as the security of lending money depends on monthly payments. If all the payments are made correctly, coffers will be refilled and financial institutions will be enabled to lend again.
Defi makes this much simpler and allows people to save their money in a certain token, allowing them to lend more with the respective to revenue gathered on the loan’s interest. The higher the interest rate, the asset saved, and benefits everyone involved.
2. Cloud System
Web3 will bring major changes to the cloud storage sector. The cloud system based on the blockchain can emerge, or let’s say will emerge new web3 business ideas for how data is stored.
The modern Businesses’ centralized data storage systems will themselves give way to a decentralized cloud-based infrastructure. AWS, Microsoft Azure, and Google Cloud are the cloud hosting platforms. Simply, because these companies have their data servers. And because of that, they monopolize over 70% of all cloud infrastructure.
As you can premeditate, the emergence of Web 3.0 will remove web services monopolization and will give room for other competitive startups because of its core of decentralization. Furthermore, cloud infrastructure costs will plummet, giving the new business opportunities to survive and thrive. Blockchain projects like Filecoin and Storj will change the industry forever.
3. Social Media
Web 3.0 will run on a decentralized protocol, thus, another possible business model that it will create is social media. And blockchain technology will provide us with a new way to use our data. This will happen because blockchain will enable strong, seamless, and automated integration between the network, blockchain, and cryptocurrency.
The emergence of DAO ( Decentralized Autonomous Organizations ) will revert the control of traditional business giants by returning the full control of data to users. The blockchain will allow the user to decide how to use their data.
The whole concept yields great web3 investment opportunities for businesses to provide unique solutions in the appropriate contexts. Social media will involve itself in web 3.0 and will become community-owned.
NFTs are taking up the communities that form around them to the next level. They are much more than digital art, the experts believe NFTs hold power to change the music industry. The FOMO business model can make this statement much more than true.
As the NFT, the economy is a clear way for creators. It also creates a clear way for businesses to make money on Web3.
Blockchain permits the individual user to have the ability to buy NFTs from creators and save them as digital assets. Individuals can use digital wallets to store generated money.
The user can trade their NFT for a profit if the artist grows in prominence. Additionally, the participant business can monetize within the community by minting NFTs. Which makes a whole new business model successful on Web3. With it, the business has the potential to provide monetary advantages to both the user and creator associated with an NFT art.
Blockchain in health care creates a patient-centered model, where healthcare companies can offer direct care to the appropriate patients.
The business models aim to use mobile applications and remote monitoring machines to provide care to patients. The technology brings new web3 opportunities for businesses to create appropriate tailored solutions. The technologies can be applied to these to improve the security and quality of machinery used in treatments.
The business can find critical projects that have implemented this model like mHealth. mhealth focuses on developing a smartphone application for cognitive behavioral therapy. With this model, the application sends patient health to a private blockchain network to secure the data from tampering.
Moreover, web3.0 will secure the EMRs making them more resistant to tampering due to the use of blockchain. The data will become accessible to and controlled by the patient. The patient, therefore, can record data and send it to healthcare providers in less time. The model reduces the distance between the patient and the provider.
In addition, because patients can monitor their care using this system, they may become attentive to their health and well-being.
Another blockchain-based mobile application, HGD (Healthcare Data Gateway), uses a simple unified Indicator-Centric Schema (ICS) to organize the overall organization’s patent data. It secures the data system, which eases third-party interaction with protected healthcare data without cybersecurity threats.
Blockchain shares not one but three business models in logistics. Three models consist of the broker model, gainsharing, and commission model.
The first model, the broker model, provides the way for third-party logistics to purchase shipment space in bulk from transportation companies, then trade that space at a markup to their customers.Web3.0 makes it possible for third-party logistics to offer space for less than the most individual businesses could buy it directly
The second model is gainsharing, in which third-party logistics works directly with these clients to cut costs. The model can efficiently result in huge investments and savings, creating new startup business opportunities.
And the third and last model, the commission model, works as another commission-based system. In which, third-party logistics work for any shipment company and connect them to their buyers. Blockchain technology adds much-needed transparency to prevent fraud and possible cyber threats.
7. Software as a Service
Web3.0 has also reformed the SaaS model based on revenue generated through software subscriptions. It is nothing new, but many traditional businesses have already started making money.
In this model, the internet charges a subscription fee to another business, organization, or entity for the benefit of using the software. As one of the web3.0 business opportunities, businesses can charge a fee from another business for hosting their crypto wallets.
By eliminating private key authorization for blockchain trading, it’s easier than ever for the web 3.0 business to host another company’s crypto wallet monthly, quarterly, and yearly, payable in crypto.
We already know that our browsers are watching our every single click online. They keep showing us advertising paid for by companies from large to small. Browser algorithms continuously figure out what’s interesting to us based on our online activity.
We might be okay with all this inspection, but in this scenario, all the revenue created by this advertising campaign goes straight up to the company that owns the browser. Isn’t it a problem? Blockchain solves these issues by suggesting a more decentralized content management platform.
In the world of web 3.0, companies can take advantage of the web browser that offers secure and decentralized net surfing such as the Brave web browser. Here’s how it works. Like traditional web browsers, advertisers pay Brave, and Brave then shows ads to its users, depending on their online behavior on the browser.
But here is the difference between Brave. Although, the revenue generated by that advertising is not only shared equally with Brave, the advertiser but also with you. The revenue is shared in the form of crypto, known as BAT. The BAT was completely issued and controlled by Brave.
9. Content Monetizing-
The content monetization business model helps content creators such as writers maintain their content and ultimately own it.
It works by turning your writing or post into a digital account such as NFT and putting it under the blockchain user’s permanent ownership. The model allows the creator to move the content from one platform to another and yield further revenue. The business dealing in content marketing can create a new revenue stream using this platform.
To even birth more web3 business opportunities, businesses can turn their content into NFT and then charge a fair amount of subscriptions for the access. It lets the business clients invest in their business and offers a revenue divided to those clients in return.
Businesses can create further revenue streams when approaching brands, businesses, and other corporations to create more opportunities for your NFT.
Baas is yet another revenue-generating sector that web 3.0 has dramatically expanded. Website hosting or data storage offered to a third-party organization for a fee are examples of traditional baas services. Backend as a service becomes blockchain as a service under the new internet economic model, allowing the blockchain to be used for a wide range of applications.
Backing up the authenticity of high-end products such as sneakers and watches, for example, is one of the most common examples. Consumers may be certain that what they’re buying is genuine thanks to blockchain’s transparency, and a web3 Baas maintains the blockchain component for the manufacturer so they can focus on their products.
Some companies, in particular, make significant headway in this area, including those like Dragonchain, by offering their tokens. Subsequently, they provide hybrid blockchain platforms for small and independent developers.
Top 10 applications of Web 3 for enterprises business?
We have listed the top 10 applications of Web3 for business enterprises based on its characteristic features.
- Highly innovative solutions for the global tech market
- Transparency for B2B businesses
- Power to the end users in the Social media industry
- Better marketing strategy for the sellers
- Smart IoT devices can help in the expansion of enterprises.
Web3 will change how businesses are doing today. Web3 is decentralized, secure and remote. School, Games, Business, Banks and more can gain through web3.
Web3 brings remote opportunities to all businesses. As it decentralized to data control will also be distributed.
Here we are wrapping up, letting you think about which model you want to invest in. In the past, tech giants like Google, Facebook, and Amazon, have ruled the industry because of their centralized nature. But as Web3.0 is gaming pace, more small competitors emerge.
Besides these 10 projects, other business models out there couldn’t make it to this list, and some are still in the development stages. And as we see in the new business models, these models create massive web3 investment opportunities to get some income.
With that note, we leave you here to decide on which model you like and which you want to go with.