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FAQ

What is a Web3 Agency?

Web3 Agencies are specialized firms focused on helping businesses leverage blockchain technology to digitally promote and enhance their products or services using NFTs.

Agencies are equipped with cutting-edge advanced technology and processes to engage more people and increase profits for companies through the use of Web3 technology.
The main goal of the Agencies is to help businesses leverage the benefits of blockchain and NFT and optimize their online presence & increase brand awareness. Agencies cover 3D & 2D design, animations, NFT creation, tokenization, and smart contract development, to ensure their clients’ success in the digital world.

Is Web3 a crypto?

Web3 is a decentralized form of the internet of things granting users with more control over their personal data. Unlike traditional web2 systems, Web3 is designed to be a decentralized and permissionless p2p network, meaning that there are no central intermediaries controlling access to information or data.

Moreover, Web3 is designed to be trustless, which means that users don’t have to rely on authorities to verify the authenticity of the transactions. Instead, the network utilizes smart contracts and blockchain to enable peer-to-peer transactions that are secure, immutable, and transparent.

On the other hand, crypto i.e. “cryptocurrency” is a kind of digital currency that utilizes encryption to regulate the generation of tokens and verify the transfer of funds. Cryptocurrencies are typically decentralized and operate independently of central authorities or intermediaries.

How big is the Web3 market?

The current valuation of the web 3.0 blockchain market isĀ US$ 2.86 Billion in 2023. The demand for web 3.0 blockchain is expected to reach US$ 116.51 Billion by the year 2033.

Is Web 3.0 the future?

The emerging world of Web 3.0 is the next milestone of the internet, and this new era is already underway. Within the next few years, Web 3.0 is expected to be fully established and adopted globally. However, what’s the difference between Web 3.0 and its predecessor Web 2.0?

The most apparent difference between Web 3.0 and Web 2.0 is that Web 3.0 offers more seamless integration with real-world experiences using virtual and augmented reality. This enables users to engage with digital content in a more immersive and personalized way.

Moreover, Web 3.0 is designed to be a more open web ecosystem. By leveraging blockchain technology Web 3.0 reduces the power of centralized authorities and promotes transparency and trust among users. This decentralized approach will enable businesses to innovate and collaborate and create a more vibrant and dynamic digital economy.

Do NFT companies make money?

In 2021 alone, the NFT market surpassed the $12 billion mark, up from $162.4 million at the start of the year.

What programming language do you need for Web3?

Ethereum is the leading chain for Web3 development. Hence, it’s unsurprising that the most widely utilized programming language for developing smart contracts in the Web3 ecosystem is Solidity.

What coins use Web3?

Polkadot, Chainlink, Filecoin, Internet Computer, and Theta Network are among the most widely used Web3 crypto assets, ranked by their market capitalization. These assets have been on the market for several years already and have established themselves as major players in the Web3 ecosystem.

How fast is Web3 growing?

In 2023, the Web 3.0 blockchain technology sector will be worth more than six trillion dollars and will continue to grow at a CAGR of 44.6% from 2023 to 2030.

What kind of NFT art sells well?

Currently, digital art is the dominant category of NFTs being sold in the market and various artists and collectors leverage blockchain technology to authenticate and sell their creations. The Bored Ape Yacht Club (BAYC) and Mutant Ape, a collection featuring various ape-inspired artworks, are currently the most sought-after and valuable NFT collections, attracting a significant amount of attention and investment from NFT buyers and enthusiasts alike.

Can I sell my image as NFT?

Certainly! As previously mentioned, you can convert any form of digital art into an NFT using smart contracts & blockchain technology.

How do I start an NFT project?

You have to prepare a generative artwork, develop a landing page/website, create a smart contract, deploy the contract, add mint functionality to the website, choose the marketplace such as Opensea, MagicEden, etc. build the community, and launch the project.

How do NFT project owners make money?

NFT creators can generate revenue every time they sell their NFTs. When an NFT is bought, a fraction of the sale price is paid to the NFT creator, and they also receive a percentage of any future sales, which is akin to a continuous royalty stream. Typically, these royalty percentages range from 5% to 15%.

How can brands use NFTs?

Luxury retail brands are incorporating NFTs into their marketing campaigns as a means of enhancing customer engagement. For instance, some luxury brands have leveraged NFTs as a way of incentivizing users to sign up for their newsletters, while others are utilizing them as key features in their virtual storefronts within metaverse environments. These innovative uses of NFTs highlight their growing importance in the digital marketing landscape.

NFTs give brand loyalty a whole new meaning. Unlike traditional loyalty programs, where the benefits are limited to a certain group of customers, NFTs give special access to any kind of customer. This gives these tokens significant value and helps create strong acquisition and brand loyalty levers.

NFTs are being leveraged by certain businesses to offer their customers exclusive, one-of-a-kind experiences. For example, the California-based winery Robert Mondavi recently made headlines by becoming the first wine label in the world to be sold as an NFT.

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