Applications and Use Cases

Web3 Enthusiasm Grows Among Consumers

December 07, 2022

Consumers show an eagerness to connect and engage with each other and brands they are loyal to in more modern, digital ways. Specifically, they are becoming more engaged with Web3 and the metaverse. It’s a good thing. Web3 is the future of the internet and through NFTs, consumers get some concrete ownership of the digital products they love.

In fact, 60% of consumers say they purchase, or will purchase, NFTs from a brand they love, according to the Dibbs “2022 NFT Sentiment Report.” One key point, though, is that 84% say they would purchase NFTs only if they are redeemable for physical items. This is understandable considering consumers naturally are used to having a physical item in their possession after making a purchase as they like to have physical proof of owning that item – and many don’t place the same value on digital items as physical.

More consumers wanting redeemable physical items indicates a clear desire for a platform that securely enables a digital presence for real-life collectibles. This puts brands in a nice spot as they now have an opportunity to create physically backed digital assets that increase revenue potential and enhance consumer engagement by building exclusive online communities.

While supporting the need to bridge the gap between physical and digital worlds, Dibbs’ NFT Sentiment Report also indicates hesitation around NFTs. Consumers list challenges, such as purchasing cryptocurrency, setting up a wallet and transferring collectibles. Consumers also see spam and fraud as security risks.

This calls for a platform that handles everything from the secure storage of collectibles to regulated item tokenization and trade monitoring, to name a few.

Dibbs, for example, tries to take the uncertainty out of Web3. The platform, through its Tokenization-as-a-Service model, makes it easy to create physically backed digital assets that generate new royalty streams from secondary sales with secure 24/7 monitoring.

“Our survey data supports growing enthusiasm around Web3 technologies but also highlights an untapped market that helps brands and consumers navigate this digital transition with ease and confidence,” said Ben Plomion, chief marketing officer, Dibbs. “Dibbs is doing just that with a customer-centric approach to tokenization.”

Edited by Erik Linask

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