Through NFTs, brands can create benefits, rewards, experiences and thus strengthen the relationship with their customers
* Fabiano Nagamatsu is co-founder of Osten Move
One of the coolest things about the tech world is that it never stops. New solutions and forms of virtual coexistence are constantly being created to keep pace with the demands of the physical world. It has changed so much that we have different nomenclatures for different evolutions of the internet. Web3 represents our current moment.
Web3 is not a “login” environment. There is no specific browser to participate in. Surely you didn’t see yourself “entering” Web2, but when you did you already had your registration on all social networks. The ratio is now more or less the same. The transition is organic because the user is increasingly interested in news and begins to live his life online in this medium.
That’s why, as a brand, it’s pretty much a necessity to be on Web3 these days. Through NFTs, brands can create benefits, rewards, experiences (digital or physical) and thus strengthen the relationship with their customers, like never before. It’s all about decentralization: giving ownership to the user. And, of course, by eliminating intermediaries such as banks, commissions, exchange rates and, above all, one of the biggest obstacles in our lives: bureaucracy. For example, when you buy a tokenized property on Web3, you no longer need to go to the notary and pay exorbitant deed fees.
As I stated earlier, you don’t need to “log in” to Web3. But in order for the user to carry out his cryptocurrency transactions in the online environment, he needs a digital wallet. There are some misunderstandings about this and it is important to clear them up.
A digital wallet is nothing more than your registration in a exchange – a platform that works with different cryptocurrencies. It is the same act as opening an account with a fintech. When the user opens an account in a virtual bank, he has a digital wallet.
And what about privacy?
The confusion comes when it comes to privacy on the Web3. In fact, the user is guaranteed the confidentiality of data during navigation and transactions in this environment. However, having a digital wallet does not mean being an anonymous user, as if Web3 were no man’s land. Mainly after the creation of the cryptocurrency law, in November 2022. Since that milestone, what exists is regulated and unregulated exchanges.
The privacy we refer to is in relation to the use of your data for advertising purposes. Businesses on Web3 cannot access your online behavior to target their marketing efforts through cookies and data analytics as they do on Web2.
But every transaction made through a regulated exchange, after the cryptocurrency law, is reported to the Financial Activities Control Council (COAF) and the Central Bank. This has been defined so that you can monitor the legality of activities in the virtual environment.
When registering with the exchange, the user can choose how much personal data he is willing to share with it. The method is defined by the Know Your Customer (KYC) guidelines – in Portuguese, “know your consumer”. The exchange can offer more possibilities based on the amount of data shared in the wallet.
Your basic data will give you the possibility to access the platform. But the more information confirming your identity, the higher the tier of your wallet. This is because they increase the security of the platform to allow larger amounts to be transacted. In this way, if the user is willing to share his image and documents, he can even receive a physical card that works in establishments’ machines like a traditional bank card.
From now on, with the evolution of Web3 and its new possibilities, combined with the security guaranteed by the blockchain, our online activity will be more and more influential in the physical environment. Our decision-making and purchasing process will be increasingly free and creative. The experiences shared in the metaverse will be closer to reality and we will have more and more choices of work, entertainment and social life.
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
