Web3 use cases for ecommerce: 3 brands getting it right

Web3 use cases for ecommerce: 3 brands getting it right

So, you've heard about Web3 and all the amazing opportunities it presents for ecommerce brands, but you’re not quite sure exactly how Web3 technologies can benefit your business. I mean, the whole basis of Web3 is that ‘the possibilities are endless’, so how’s anyone supposed to know where to start?

Fear not. We’re here to help with 3 innovative Web3 use cases for ecommerce that will inspire your venture into the exciting new version of the web.

From customer experiences in the metaverse to revenue-driving loyalty programmes, here are some of the best Web3 examples to achieve success in this space.


1. Immersive metaverse experiences



When most people think of Web3 and ecommerce, it’s probably flashy, impressive metaverse experiences that first come to mind. These are the Web3 examples that often make it into the press because they’re visually exciting and represent the most forward-thinking elements of Web3.

The metaverse is an immersive online world where users can explore, play, shop and interact with others using a combination of augmented and virtual reality.

For ecommerce, embracing metaverse technologies has a wide variety of benefits. Building experiences in the metaverse gives brands an opportunity to engage new audiences, host virtual events, make the most of cryptocurrency payments, gamify shopping experiences, raise brand awareness and more.

The fashion industry in particular has started to embrace these technologies. One of the earlier adopters was Nike, who launched their own micro metaverse in November 2021. Nike partnered with Roblox to create ‘Nikeland’, a virtual world in which users can play games, interact with others (and celebrity visitors like LeBron James) and, crucially, purchase virtual products to dress their avatars.

 

 

Source: Nike



Nike are pushing the idea of virtual goods having the same value as physical ones, encouraging Nikeland users to embrace an aspirational lifestyle online in the same way they might in real life. And it looks to be achieving positive results.

Within its first two months, Nike reported that 7 million people across 224 countries visited Nikeland, driving revenue, increasing engagement and raising brand awareness. Since then, over 21 million people have explored the metaverse.

The popularity of Nike’s high profile Web3 use case exposes the wide interest in metaverse experiences.


2. NFT loyalty programmes



In the media, NFTs often get a bad rap. However, for Web3 ecommerce, they can be game-changing.

Specifically, NFTs (non-fungible tokens) have become increasingly popular in the world of loyalty programs. With NFTs, customers can receive rewards that are completely unique and don’t have an expiry date. This offers customers a greater sense of ownership over their rewards than with traditional loyalty programs, which often feature generic point systems that don’t allow any customisation

NFTs can also be used to create loyalty programs that are more engaging and fun for customers. For example, companies can use NFTs as part of a scavenger hunt-style program where customers unlock various levels of rewards by completing certain tasks or activities.

That’s just what Starbucks are embracing, representing a cutting-edge Web3 use case for ecommerce. Starbucks recently launched a blockchain-based loyalty program which awards coffee-themed NFTs that grant users access to real-life experiences.

 

Web3 use cases for ecommerce

Source: Starbucks

 

The new Starbucks Odyssey platform is an extension of Starbucks’ existing loyalty program that invites users on interactive “Journeys” that promote the Starbucks brand and teach customers about its history.

By completing these journeys, customers earn “Journey Stamps” (a less techy name for NFTs) which have variable points values based on their rarity. The stamps can also be bought and sold by members in a dedicated marketplace, with no crypto wallet or cryptocurrency required.

As the stamps are collected (or purchased), a member’s points will increase and they’re then able to gain access to unique benefits and experiences, ranging from virtual cocktail classes to trips to Starbucks’ Hacienda Alsacia coffee farm in Costa Rica.

Starbucks built their new Web3 loyalty program to “create an accessible Web3 community that will enable new ways to engage with members and partners.” Whatever Starbuck Odyssey achieves in the coming months, it represents an exciting Web3 use case for ecommerce brands seeking to utilise new technologies to enhance their existing loyalty programs. 


3. Token-gated commerce

 

Along with upgraded loyalty programmes, NFTs can also benefit ecommerce brands through token-gating.

Using token-gating, brands can restrict access to their content, goods or services to people who own certain NFTs. They can also grant early access to new product launches or exclusive in-person rewards too. These NFTs can either be purchased on an NFT marketplace or earnt as a reward for customer loyalty.

One brand that’s embraced token-gated commerce with great success is hardcore water brand Liquid Death.

Over the past few years, Liquid Death have built a cult following with their sustainability-focused products, unique branding and no-nonsense marketing. They looked to Web3 technologies to expand their existing loyalty programme and engage new audiences, with the help of Web3 commerce platform Novel.

 

Web3 example: Liquid Death
 

Source: Liquid Death

 

Liquid Death’s NFT loyalty programme, Murder Head Death Club, offers exclusive merch and experiences to those who purchase one of their custom-designed NFTs.

These experiences could include tickets to concerts and festivals, invites to exclusive poker nights or even the opportunity to be a guest DJ on Liquid Death’s radio station.

This has allowed Liquid Death to build a community of die-hard fans that drives brand loyalty, enhances their retention efforts, rewards loyalty and introduces a new revenue stream to their business.

The customers who own those NFTs also make up a very specific and dedicated group of customers, which opens up exciting marketing opportunities too.

Token-gated commerce is one of the less technically complex ways ecommerce brands can embrace Web3 technologies to drive engagement in their businesses. Liquid Death’s Web3 use case illustrates how it can be a worthwhile investment.

 

Thinking of delving into the exciting world of Web3?


With Web3 technologies, engagement- and revenue-driving customer experiences that could only have been imagined a few years ago are now possible. With your inspiration and our Web3 design and development expertise, we can make them a reality.

Talk to us about how your brand can embrace the future of ecommerce and explore the possibilities of Web3.

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