Six Great Reasons for Online Merchants to Opt for Virtual Gifting
Author: Ava Taros
Online retailers face huge competition, particularly small and medium sized businesses. You face costly third-party fees, logistic nightmares, looming corporations, cross-border expenses and much more. Maybe it’s time for you to change the paradigm and reach out to Web3?
“What’s Web3?” you ask in a panic. Actually, there’s nothing to fear about Web3 or its place in the metaverse. Web3 refers to a virtual reality which involves the sale or trade of non-physical lands, NFTs assets, gaming tokens, videos, digital collectibles and many other items.
Although Web3 is in its initial stages of development, here are some numbers that show that the phenomenon is rapidly gaining interest: In a recent survey, McCann Worldgroup discovered that by 2026, about 2 billion people worldwide “will spend at least one hour a day in the metaverse to work, shop, attend school, socialize or consume entertainment.” According to predictions, by that same year the total value of the virtual goods market in the metaverse could be as high as $200bn.
Let’s discuss how you currently handle the physical merchandise or gifts for sale on your website, and the hassles you face on a daily basis:
Now let’s examine how the sale of virtual assets can truly revolutionize your business and arouse unprecedented customer engagement.
This combination of features makes virtual products an especially inviting prospect for online retailers eager to expand and innovate. Web3 gives you that special competitive edge you’ve been looking for.
Now that you understand the benefits that Web3 virtual assets have to offer, let’s discuss how the process actually works. Understandably, you may be worried about the unfamiliar blockchain technology involved.
That’s where Giftoin comes in. Giftoin is an end-to-end blockchain-based platform which handles the payment, creation, wrapping and sending of virtual gifts from end to end. Online retailers do not require any prior knowledge of blockchain or crypto to deal in virtual gifts. In fact, all you need to do is upload the virtual assets to your website and monitor the sales.
In addition, customers can use standard payment methods to pay for the virtual gifts, and they don’t even need a crypto wallet. The Giftoin system converts the gift to crypto coins and places them in a secure Giftoin Wallet opened especially for the recipient.
Want to see what Giftoin has to offer? Go into our Starter Edition App and give it a try.
Follow our blog to discover more about exciting new developments in the world of the metaverse, virtual gifting, NFTs and cryptocurrencies.
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