More brands will be using web3 to capture market share in 2024 | Opinion
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...