10 Factors to Incorporate in Your Web3 Business Ideas

The growing awareness of what is known as Web 3.0 or Web3 means that there is immense potential for this newest iteration of the World Wide Web to change the face of the business landscape.

While Web2 remains the most common way of engaging with digital content, there are strong indications that Web3 applications will become increasingly prevalent as more individuals and organizations become aware of the possible business opportunities with Web3.

The title “Web3” dates back to 2014, when it was coined by Gavin Wood, the co-founder of Ethereum. Web3 generally defines a new vision for the web that has at its heart decentralization and blockchain technology. The most important word when it comes to defining Web3, and specifically Web3 business ideas, is control.

During the era of Web2, data and content have been centralized, and effectively controlled, by a tiny band of companies known as Big Tech. These giant conglomerates form a group of five: Google, Apple, Amazon, Microsoft and Meta (Facebook).

Web3 business models are drawn up with the understanding and expectation that this is a new era of enhanced data security, scalability and privacy, an era in which the influence of gigantic tech firms like that quintet is massively reduced.

But what does that mean for people contemplating innovation and transformation? In this guide, we will look at examples of Web3 business ideas and the type of blockchain business opportunities waiting for companies in various different commercial contexts.

Web3 project ideas and Web3 applications are familiar territory for ZirconTech. We provide extensive consultancy services relating to software development at the cutting edge of digital innovation.

How does Web3 impact business models?

There are several ways in which the advent and application of Web3 will make a difference to the commercial and corporate landscape. Two overarching considerations are particularly important to understand and incorporate if you are pondering Web3 startup ideas.

• Decentralization

Again, we have to look at the overriding importance of control. Control of the data belonging to you and your business. Many people fear that the existing web model, in which a large amount of control of that data rests in the hands of major tech firms, leads to a lack of privacy. A 2019 survey suggested that more than 90 per cent of the users of the web across the world had a concern over their data privacy. The potent combination of Web3 and blockchain technology holds out the prospect that data will no longer be controlled by a small but powerful group of companies. Individual users and business leaders will be able to keep their data.

• AI and ML

Artificial intelligence and machine learning are already widely accepted concepts within the world of Web2. However, the fundamental fact that the current status quo is a centralized system means AK and ML algorithms can be susceptible to human intervention. The exciting prospect for people with Web3 business ideas is that data can be used to create far more efficient AI Web3 applications that can be scaled much more quickly while at the same time respecting the privacy of the user.

Factors to incorporate in Web3 business ideas

1. Transparency: Now every transaction can be tracked accurately and verified. This means that companies will inevitably be more accountable to customers who can take advantage of that transparency to check every stage of a deal. Honorable organizations should see this as a significant plus, since it will engender deeper levels of trust and the creation and maintenance of long-lasting business relationships.
2. One of the biggest benefits of the decentralized nature of the new iteration of the World Wide Web means that Web3 business ideas can come to fruition with far higher levels of security. Previously, hackers needed only to target one single server where all data was kept. With data widely distributed, Web3 and blockchain technology offer a significant deterrent to anybody targeting their stored data.
3. Decentralization: By now, many people and organizations in territories around the world are aware of the benefits of cryptocurrency. The frictionless and borderless nature of Web3 and blockchain technology means that transactions in Web3 business models can be completed in minutes, rather than having to go through time-consuming traditional banking processes. Crucially, this also applies to international deals. The use of smart contracts, rather than other third-party service providers, also adds to the decentralization benefits that should be enjoyed by anybody with Web3 business ideas.
4. Compliance: One thing we know most surely about the blockchain is that it is unchangeable. That is a serious plus from the point of view of compliance for anybody investigating blockchain business opportunities. Regulatory clearance should be easier to attain, because authorities can view and check a record of transactions much more quickly.

10 Examples of Web3 business ideas

The theory of the benefits that the new era of digital technology could bring to Web3 startup ideas is compelling. But how might that look in practice? What examples can we find of Web3 business ideas that could leverage the new decentralized landscape to launch and grow new companies?

There are business opportunities with Web3 in all the following areas – and more.

1. NFTs: The rise of the non-fungible token has been one of the most visible manifestations of the next generation of digital innovation. NFTs are digital assets that represent a range of real-world objects including sports memorabilia, videos, pieces of artwork, and audio pieces. They can be traded online and their value is enshrined in the unique identifying code that guarantees the authenticity of each NFT.

One of the most compelling Web3 business ideas is the establishment of a company that makes its money by trading in NFTs. If you become expert in the ways in which NFTs are bought and sold – and, crucially, learn how to spot pieces that are going to rise in value – you could become a collector of these tokens that are underpinned by Web3 and blockchain technology.

2. Logistics: The world of logistics is one where there are numerous blockchain business opportunities. There are so many ways in which Web3 and blockchain technology can bring compelling solutions to a sector that has traditionally involved multiple parties in a transaction, particularly when deals entail the movement of goods across borders.

The decentralized and frictionless nature of Web3 business models brings potential benefits in areas such as storage and shipment space, which could be traded in a far more streamlined manner. Indeed, at all touchpoints of a sector such as logistics there are opportunities for Web3 business ideas.

3. Finance: Given the central role that cryptocurrency is poised to play in Web3 business models, it is no surprise that one of the most potentially fruitful areas of the new age will be financial businesses. Indeed, there is already a term for the industry that will facilitate the new way of moving money – decentralized finance, or DeFi for short.

DeFi enables the smooth transfer of digital assets and currency without the need for them to go through a traditional bank or broker. There is clear potential here for the creation, for example, of a DApp, a decentralized application, that can offer DeFi services to people with Web3 startup ideas. DeFi is a sector ripe with possibilities for those with Web3 business ideas.

4. Healthcare: This is one area in which Web3 and blockchain technology can potentially deliver significant benefits both to patients and healthcare providers. Patients are able to access and control their own data, rather than leaving it in the hands of health firms. They can then deal directly with healthcare companies. The security implicit in the blockchain means that sensitive data can be protected, while also being transferred more efficiently between patient and provider. There are numerous possible Web3 business ideas relating to the health sector as a result.  
5. Gaming: One of the areas that is ripe with blockchain business opportunities and Web3 business ideas is games – and specifically play-to-earn (P2E) gaming. Games are more immersive than ever thanks to advances in digital technology, and many people also relish the fact that it is possible to earn cryptocurrency and tokens from excelling at particular titles.

 Among the potential Web3 business models in this space is the creation of a platform that hosts P2E games. There is even the possibility of selling advertising space on the platform to add another income stream.

6. Social media: Social media is one area that epitomizes the difference between Web2 and Web3. Business models in the latter should incorporate the fact that platforms will no longer be owned by large corporations – indeed, there is every chance that the next generation of mass-interest household names in this sphere will be community owned using Web3 and blockchain technology.

Creating a social media platform with all the advantages conferred by decentralization and the blockchain could be an outstanding investment opportunity for organizations and individuals looking to develop Web3 business ideas.

7. Marketing: As time passes, increasing numbers of businesses will undoubtedly come to realize the potential value of embracing Web3. If you are fast out of the gate, and become highly adept in the methods of finding – and communicating with – a potential customer base, you could become a compelling marketing partner for such organizations.

 Web2 marketing techniques have always been about collecting data to refine the ways in which you can speak directly to your potential customers. Web3 business ideas will have to incorporate the decentralization implicit in the new landscape.

8. Content creation: During the Web2 era, the possibilities around creating and publishing your own content have been explored, and exploited, by numerous individuals and organizations around the world. It is already clear that there are many ways in which content-focused Web3 business ideas could be formulated that embrace this new way of communicating.

 You could explore Web3 project ideas around turning your video, written or audio content into NFTs, or you could even become an expert on the move from Web2 to Web 3 and deliver content that makes it easy for your audience to make the same switch.

9. SaaS: Just as Software as a Service became a popular commercial model in the era of Web2, there are many potential Web3 business ideas that could exploit the new ways in which software services could be provided and hosted in the new era. The frictionless nature of Web3 and blockchain technology means that the delivery of software services could be achieved in a more streamlined and economical manner in future.
10.  BaaS: Backend as a Service has been a popular business model in recent years. As more and more organizations embrace the possibilities of Web3, BaaS could also stand for Blockchain as a Service. The provision of an excellent backend for developers and companies that want to focus on their UX and UI transformation will be just as critical in the era of Web3, but offering BaaS services specifically for those who want to develop Web3 business models could be a lucrative venture.

Conclusion: How can ZirconTech help you?

As you can see, this is an exciting time to be involved in digital transformation. We are acutely aware that many organizations across the United States, and indeed the world, are examining closely the viability of Web3 business ideas.

ZirconTech has extensive experience in all areas of digital transformation and software engineering, and has worked specifically with companies looking to make the most of NFTs and Web3 and blockchain technology.

If you want to investigate the possibility of digital transformation that incorporates Web3 business ideas, and are looking for a development partner, ZirconTech is ideally placed to work with you to achieve that next step smoothly and successfully.  

 

10 Factors to Incorporate in Your Web3 Business Ideas

The growing awareness of what is known as Web 3.0 or Web3 means that there is immense potential for this newest iteration of the World Wide Web to change the face of the business landscape.

While Web2 remains the most common way of engaging with digital content, there are strong indications that Web3 applications will become increasingly prevalent as more individuals and organizations become aware of the possible business opportunities with Web3.

The title “Web3” dates back to 2014, when it was coined by Gavin Wood, the co-founder of Ethereum. Web3 generally defines a new vision for the web that has at its heart decentralization and blockchain technology. The most important word when it comes to defining Web3, and specifically Web3 business ideas, is control.

During the era of Web2, data and content have been centralized, and effectively controlled, by a tiny band of companies known as Big Tech. These giant conglomerates form a group of five: Google, Apple, Amazon, Microsoft and Meta (Facebook).

Web3 business models are drawn up with the understanding and expectation that this is a new era of enhanced data security, scalability and privacy, an era in which the influence of gigantic tech firms like that quintet is massively reduced.

But what does that mean for people contemplating innovation and transformation? In this guide, we will look at examples of Web3 business ideas and the type of blockchain business opportunities waiting for companies in various different commercial contexts.

Web3 project ideas and Web3 applications are familiar territory for ZirconTech. We provide extensive consultancy services relating to software development at the cutting edge of digital innovation.

How does Web3 impact business models?

There are several ways in which the advent and application of Web3 will make a difference to the commercial and corporate landscape. Two overarching considerations are particularly important to understand and incorporate if you are pondering Web3 startup ideas.

• Decentralization

Again, we have to look at the overriding importance of control. Control of the data belonging to you and your business. Many people fear that the existing web model, in which a large amount of control of that data rests in the hands of major tech firms, leads to a lack of privacy. A 2019 survey suggested that more than 90 per cent of the users of the web across the world had a concern over their data privacy. The potent combination of Web3 and blockchain technology holds out the prospect that data will no longer be controlled by a small but powerful group of companies. Individual users and business leaders will be able to keep their data.

• AI and ML

Artificial intelligence and machine learning are already widely accepted concepts within the world of Web2. However, the fundamental fact that the current status quo is a centralized system means AK and ML algorithms can be susceptible to human intervention. The exciting prospect for people with Web3 business ideas is that data can be used to create far more efficient AI Web3 applications that can be scaled much more quickly while at the same time respecting the privacy of the user.

Factors to incorporate in Web3 business ideas

1. Transparency: Now every transaction can be tracked accurately and verified. This means that companies will inevitably be more accountable to customers who can take advantage of that transparency to check every stage of a deal. Honorable organizations should see this as a significant plus, since it will engender deeper levels of trust and the creation and maintenance of long-lasting business relationships.
2. One of the biggest benefits of the decentralized nature of the new iteration of the World Wide Web means that Web3 business ideas can come to fruition with far higher levels of security. Previously, hackers needed only to target one single server where all data was kept. With data widely distributed, Web3 and blockchain technology offer a significant deterrent to anybody targeting their stored data.
3. Decentralization: By now, many people and organizations in territories around the world are aware of the benefits of cryptocurrency. The frictionless and borderless nature of Web3 and blockchain technology means that transactions in Web3 business models can be completed in minutes, rather than having to go through time-consuming traditional banking processes. Crucially, this also applies to international deals. The use of smart contracts, rather than other third-party service providers, also adds to the decentralization benefits that should be enjoyed by anybody with Web3 business ideas.
4. Compliance: One thing we know most surely about the blockchain is that it is unchangeable. That is a serious plus from the point of view of compliance for anybody investigating blockchain business opportunities. Regulatory clearance should be easier to attain, because authorities can view and check a record of transactions much more quickly.

10 Examples of Web3 business ideas

The theory of the benefits that the new era of digital technology could bring to Web3 startup ideas is compelling. But how might that look in practice? What examples can we find of Web3 business ideas that could leverage the new decentralized landscape to launch and grow new companies?

There are business opportunities with Web3 in all the following areas – and more.

1. NFTs: The rise of the non-fungible token has been one of the most visible manifestations of the next generation of digital innovation. NFTs are digital assets that represent a range of real-world objects including sports memorabilia, videos, pieces of artwork, and audio pieces. They can be traded online and their value is enshrined in the unique identifying code that guarantees the authenticity of each NFT.

One of the most compelling Web3 business ideas is the establishment of a company that makes its money by trading in NFTs. If you become expert in the ways in which NFTs are bought and sold – and, crucially, learn how to spot pieces that are going to rise in value – you could become a collector of these tokens that are underpinned by Web3 and blockchain technology.

2. Logistics: The world of logistics is one where there are numerous blockchain business opportunities. There are so many ways in which Web3 and blockchain technology can bring compelling solutions to a sector that has traditionally involved multiple parties in a transaction, particularly when deals entail the movement of goods across borders.

The decentralized and frictionless nature of Web3 business models brings potential benefits in areas such as storage and shipment space, which could be traded in a far more streamlined manner. Indeed, at all touchpoints of a sector such as logistics there are opportunities for Web3 business ideas.

3. Finance: Given the central role that cryptocurrency is poised to play in Web3 business models, it is no surprise that one of the most potentially fruitful areas of the new age will be financial businesses. Indeed, there is already a term for the industry that will facilitate the new way of moving money – decentralized finance, or DeFi for short.

DeFi enables the smooth transfer of digital assets and currency without the need for them to go through a traditional bank or broker. There is clear potential here for the creation, for example, of a DApp, a decentralized application, that can offer DeFi services to people with Web3 startup ideas. DeFi is a sector ripe with possibilities for those with Web3 business ideas.

4. Healthcare: This is one area in which Web3 and blockchain technology can potentially deliver significant benefits both to patients and healthcare providers. Patients are able to access and control their own data, rather than leaving it in the hands of health firms. They can then deal directly with healthcare companies. The security implicit in the blockchain means that sensitive data can be protected, while also being transferred more efficiently between patient and provider. There are numerous possible Web3 business ideas relating to the health sector as a result.  
5. Gaming: One of the areas that is ripe with blockchain business opportunities and Web3 business ideas is games – and specifically play-to-earn (P2E) gaming. Games are more immersive than ever thanks to advances in digital technology, and many people also relish the fact that it is possible to earn cryptocurrency and tokens from excelling at particular titles.

 Among the potential Web3 business models in this space is the creation of a platform that hosts P2E games. There is even the possibility of selling advertising space on the platform to add another income stream.

6. Social media: Social media is one area that epitomizes the difference between Web2 and Web3. Business models in the latter should incorporate the fact that platforms will no longer be owned by large corporations – indeed, there is every chance that the next generation of mass-interest household names in this sphere will be community owned using Web3 and blockchain technology.

Creating a social media platform with all the advantages conferred by decentralization and the blockchain could be an outstanding investment opportunity for organizations and individuals looking to develop Web3 business ideas.

7. Marketing: As time passes, increasing numbers of businesses will undoubtedly come to realize the potential value of embracing Web3. If you are fast out of the gate, and become highly adept in the methods of finding – and communicating with – a potential customer base, you could become a compelling marketing partner for such organizations.

 Web2 marketing techniques have always been about collecting data to refine the ways in which you can speak directly to your potential customers. Web3 business ideas will have to incorporate the decentralization implicit in the new landscape.

8. Content creation: During the Web2 era, the possibilities around creating and publishing your own content have been explored, and exploited, by numerous individuals and organizations around the world. It is already clear that there are many ways in which content-focused Web3 business ideas could be formulated that embrace this new way of communicating.

 You could explore Web3 project ideas around turning your video, written or audio content into NFTs, or you could even become an expert on the move from Web2 to Web 3 and deliver content that makes it easy for your audience to make the same switch.

9. SaaS: Just as Software as a Service became a popular commercial model in the era of Web2, there are many potential Web3 business ideas that could exploit the new ways in which software services could be provided and hosted in the new era. The frictionless nature of Web3 and blockchain technology means that the delivery of software services could be achieved in a more streamlined and economical manner in future.
10.  BaaS: Backend as a Service has been a popular business model in recent years. As more and more organizations embrace the possibilities of Web3, BaaS could also stand for Blockchain as a Service. The provision of an excellent backend for developers and companies that want to focus on their UX and UI transformation will be just as critical in the era of Web3, but offering BaaS services specifically for those who want to develop Web3 business models could be a lucrative venture.

Conclusion: How can ZirconTech help you?

As you can see, this is an exciting time to be involved in digital transformation. We are acutely aware that many organizations across the United States, and indeed the world, are examining closely the viability of Web3 business ideas.

ZirconTech has extensive experience in all areas of digital transformation and software engineering, and has worked specifically with companies looking to make the most of NFTs and Web3 and blockchain technology.

If you want to investigate the possibility of digital transformation that incorporates Web3 business ideas, and are looking for a development partner, ZirconTech is ideally placed to work with you to achieve that next step smoothly and successfully.