Dim Niko is the founder of 3Commerce, a software and tokenized ecosystem that helps eCommerce brands integrate the Blockchain and Web3.0 into their business model to drive sales.

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Guest Resource

3 Commerce Protocol – Transforming Online Shopping with the Blockchain. (Sorry! This link was active when this episode was first published in 2023. This resource is no longer available.)

3 Value Bombs

1) It’s coming slowly, but when it does come, it will come suddenly.

2) There are two main types of tokens when it comes to crypto currency. There are fungible tokens, which is like Bitcoin. Non-fungible tokens mean it’s a token still on the blockchain, but they’re unique and irreplaceable.

3) The main thing to understand when it comes to mass adoption, particularly of blockchain and cryptocurrency, is the fact that we’re going to use a lot of this technology without necessarily knowing that we’re using the technology and how it works.

Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: Revolutionizing eCommerce with the Blockchain, Web3.0 and NFTs

[1:18] – Dimitri shares something that he believes about becoming successful that most people disagree with.

There’s a defined set of steps when it comes to achieving what it is that you set out to achieve, and the complexity comes in executing on that – and people’s attitude towards it.

[2:04] – What are NFTs?

NFTs are non-fungible tokens.
There are two main types of tokens when it comes to cryptocurrency. There are fungible tokens, which is like Bitcoin. Non-fungible tokens mean it’s a token still on the blockchain, but they’re unique and irreplaceable.
These files are on the blockchain, and they can be transferred between two owners. We can verify who actually owns them without any middle man.

[4:02] – Ways to integrate NFTs and e-commerce.

In terms of product launches, we sell an NFT that’s representative of that product, and then when it comes time for shipment, the customer can come and redeem that NFT and then get shipped the product.
The cool thing with NFTs is we can program into that NFT on the blockchain that every time it’s sold or it exchanges hands, 5% or 10% of that value goes back to the original creator of the NFT.
In terms of prominence or certificates of authenticity, we can tie that NFT with that certificate of authenticity to the product, and then every time the product is sold in the future, you can then get a kickback
You can use it for loyalty programs for eCommerce brands.

[7:11] – How can NFTs impact. existing brands via integrations?

A streetwear and apparel brand that came out of the U.S. that’s about 20 years old recently released an NFT collection called The Adam Bomb Squad.
When customers buy the NFT, they get benefits, exclusive products, special patterns and designs of their streetwear etc.

[10:50] – A timeout to thank our sponsors!

Podopolo: The best podcast listening app in the world is here! Visit Podopolo.com, download the app for free, mention John Lee Dumas (my Podopolo username) when you sign up, and start listening now!
HubSpot: Learn how HubSpot can help your business grow better and get a special offer of 20% off on eligible plans at HubSpot.com/eof!

[13:11] – Example of companies integrating NFTS, Web 3, Blockchain, etc. into their business,

[16:23] – Barriers to mass adoption.

It’s mainly because the technology hasn’t developed enough.
The main thing to understand when it comes to mass adoption, particularly with blockchain and crypto currency, is the fact that we’re going to use a lot of this technology without necessarily knowing that we’re using the technology and how it works.

[17:54] – What ways will adoption be able to drive sales?

It really comes down to the value that you’re providing. If you can create that sort of dynamic value for your pass holders and for your community members, then they’ll continue shopping, and that’s going to increase their customer lifetime value.
This whole model with the NFT’s introduces 2 new revenue sources to the brand:
- Commissions that you take as a brand and as the creator, and
- Increasing sales by increasing the customer lifetime value and decreasing the acquisition costs.

[20:51] – Dimitri’s key take away and call to action.

It’s coming slowly, but when it does come, it will come suddenly.
3 Commerce Protocol – Transforming Online Shopping with the Blockchain.

[22:04] – Thank you to our Sponsors!

Podopolo: The best podcast listening app in the world is here! Visit Podopolo.com, download the app for free, mention John Lee Dumas (my Podopolo username) when you sign up, and start listening now!
HubSpot: Learn how HubSpot can help your business grow better and get a special offer of 20% off on eligible plans at HubSpot.com/eof!

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

Revolutionizing eCommerce with the Blockchain, Web3.0 and NFTs with Dimitri Nikolakakis

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