The modern marketplace is transforming right before our eyes — and the coolest part is, it’s cultivating more trust between consumers and companies.
It’s 2021 and digital assets are completely immersing the market. From art to sneakers, we’re no longer doing business the way it used to be done. New methods for online trade are spearheading the consumer world.
These changes are happening fast, and if you blink, you’ll miss it.
Well, I’m going to give you an outline of what’s going on right now — with my special twist. I’m telling the story of blockchain trading where trust is the main theme.
Are You Ready for the Blockchain Revolution?
Digital assets are opening up marketplaces that allow you to make a trust leap.
People are embracing the new tech-driven exchange culture of blockchain. These new innovative marketplaces are letting people trade sneakers, baseball cards, collectibles, art… you name it, it’s there.
These new blockchain exchanges allow you to trade — and really trust that trade.
Blockchain is transparent. It’s easy to track any suspicious activity and ownership doesn’t change so easily. With blockchain trades, you know whether or not you actually own it, whether it’s the deal, and how it got to you. It’s all clear.
Keep Your Eyes on NFTs
If you’ve been keeping up with any of this, you’ve seen the term “NFT” thrown around. Well, you’ll probably want to pay more attention. This is not just an e-commerce fad. This is the future.
NFT stands for non-fungible tokens. They are cryptographic assets linked to the blockchain. Each NFT is loaded with data and information that can’t be replicated. Unique ID codes identify one from another.
NFTs represent assets with a value in real life. It’s not like cryptocurrencies that represent money. NFTs mark the deals behind our real-world transactions, so they can’t be edited or changed later.
In other words, you can’t “lie” or scam in this space. It is what it is — and all the information is there for everyone to see.
In my opinion, this is the future of commerce… because a trustworthy system is here and consumers want it.
The Need for Trust isn’t New
I see this boom in demand as completely appropriate for the times.
Anyone calling these new changes “unprecedented” didn’t do their homework. It’s true that they’re gaining traction in the market at unprecedented speeds, but the ideas and systems behind the trends have been a long time in the making.
For years now, the consumer market has been more interested in trust than ever before. Transparency and authenticity are some of the most important things that encourage shoppers to do business with someone.
In 2019, 67% of customers agreed that a “good reputation” would encourage them to buy a product, but they would stop buying if something broke the trust they had in that company.
In 2020, when the world faced a crisis together, consumers got even more serious about trust. An Edelman report showcased that:
53% of respondents said that their trust in the company or brand is the second most important factor in making a purchase. 70% said trusting a brand is more important today than it was in the past.
What do you think about this?