According to a report by Marketsand Markets , the global NFT market is expected to reach $122.43 billion by 2028, growing at a CAGR of 34.1% from 2022. This opens up a huge opportunity for SMEs to tap into this potential market.
2. Data ownership and customer loyalty In Web2, customer data is controlled by large platforms like Facebook or Google. Web3 puts data control back in the hands of users, helping SMEs build trust through transparency. For example, o ensure that purchases are recorded transparently, or implement a tokenized customer loyalty program.
3. Flexible Fundraising with DeFi Decentralized germany telegram data finance (DeFi) platforms help SMEs raise capital without relying on banks or traditional investors. For example, a startup can issue its own token to raise capital from the community, instead of going through rigorous fundraising rounds from investment funds.
According to DeFi Pulse , the value locked (TVL) in DeFi projects has reached over $40 billion by 2023, showing the strong growth of the sector. 4. NFTs and Exclusive Value NFTs aren’t just for digital art, they can also be used in business.
For example, SMEs can issue NFTs to provide exclusive access to special products, services, or events. Case in point: Starbucks has implemented a loyalty program on the blockchain through NFTs, delivering a unique experience and deepening connections with loyal customers.