The Internet has been spinning very fast from the beginning of Web1 to the hypergrowth of Web3 and involves community as a top priority.
Let’s talk about Web2, it’s the second generation of the Internet that emerged mainly with the start of social networking websites.
On the other hand, Web3 is the new updated version of the Internet centered on Blockchain technology, which provides an opportunity for the decentralization and growth of token-based economies.
We must continue to upgrade our traditional business to the new Internet-based model for hyper-growth in this fast-growing Internet world.
We will talk about one of these models called the ownership economy introduced by Bitliberte. This model uses blockchain technology, as transparency plays an important role in maintaining trust among the community.
This model revolves around a DAO and NFT-based ecosystem to distribute fractional ownership and decision-making power across physical products and outlets.
DAO stands for Decentralized Autonomous Organization, like-minded people around the world come together to invest and vote transparently on-chain to make important decisions. Anyone and everyone can transparently track every investment and vote on an immutable blockchain.
Non-fungible tokens, or NFTs, put the power of ownership in the hands of artists, businesses and individuals. Typically, this is a way for anyone to register digital or physical artwork, images, or videos to represent their unique ownership on a blockchain.
Bitliberte uses a DAO and NFT-based ecosystem as a means to issue the sole ownership of physical retail outlets, digital products and services related to the fashion apparel industry to the mass audience.
The market value of the fashion industry in India is estimated to reach $190 billion by 2026 and this is the perfect time to explore the possibilities of expanding into decentralized Web3-based protocols for businesses traditional
Explore more about this at bitliberte.com