E-commerce is mainly for selling physical goods and services appointed using payment gateway such as Stripe, Paypal, and other tools. With the rise of blockchain particularly in NFT, E-commerce is now having another option to give customers for making purchase.
The idea of NFT is non-fungible taken from the abbreviation "Non-Fungible Token". It is essentially irreplaceable to other identical item. In other words, it is unique to the rest just like Monalisa Painting.
Eventhough many people can copied the existing painting image, but the original one does remain unique and have exclusive ownership. Any digital asset such graphics, videos, music in NFT can become an NFT.
Buying an NFT does give the ownership, it is also verified on the blockchain system and so for the certificate issuance.
Future E-commerce
Retailers like Coca-Cola has managed to sell its very first NFT at the International Frienship Day Auction. The bid winner owned digital loot box and real vintage refrigerator.
Besudies, other famous brands like Gucci, Nike, Adida has taken one step forward to embraced in the world of NFT. With the NFT transaction has peaked in 2021, the retailes has made big bet on transaction in the blockchain.
Benefit of NFT for E-commerce
- Brand Awareness NFT represents marketing tools to send message to public and making its awareness of the existence products.
If NFT has been released in a limited edition plus the vibe created by social influencer, the product awareness will surely getting high recognition.
Community Building In social media like Instagram and Twitter, content creator and artist have make collaboration to promote its brands and making community to share common interest. Some even have their NFT picture in the profile.
Metaverse World While the Facebook Founder, Mark Zuckerberg has renamed the brand to become Meta, there is another option for retailer to promote their store virtually. Instead of opening store in physical place, the metaverse allow shop owners to sell item and display all the product in the metaverse. And buyers can simply use AR equipment to make purchase.