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Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Consumer retail spending is rising, with shoppers spending almost $10 billion in online Black Friday sales this year. Clearly, demand for great products has not waned despite inflation, and so competition for consumer attention is on the rise. There is an unexpected beneficiary to this tug-of-war between brands for consumer dollars—web3. In 2024, we’re likely to see growing numbers of brands and companies leveraging web3 to strengthen the bond between their brand and customers. You might also like: Beyond the hype: Web3 is in dire need of a rebrand | Opinion Blockchain engagement campaigns   The latest developments in web3 give consumer brands a powerful tool to enhance their membership and loyalty programs. In return for their loyalty, customers can now own their interaction with brands as an NFT, creating powerfu...

How can companies reach a balance between innovation and protection in Web3? This decentralized network employing AI tools combats NFT fraud and wash trading. Brands and creators exploring Web3 are wary of IP fraud and wash trading risks, but AI-powered technologies can detect such problems and make this emerging ecosystem safer for all participants. Web3 is about to knock on every brand’s door. Innovations like nonfungible tokens (NFTs) offer unique benefits for creators and brands, like securing ownership on the blockchain, establishing direct connections with audiences and offering customized experiences. Despite the unprecedented Features , the reality slap can be painful. Many companies and brands that want to become early adopters of Web3 realize that this is a complex, fragmented and underregulated landscape that leaves room for intellectual property (IP) fraud and other risks. The decentralized nature of Web3 can democratize interactions and encourage a fair economic model, ...