The Internet has been revolving very fast from the commencement of Web1 to hypergrowth of Web3 involving the community as a top priority.
Let’s talk about Web2, It is the second generation of the internet that mainly came to existence with the commencement of social networking websites.
On the other hand, Web3 is the new upgraded version of the internet focusing on Blockchain technology, which gives an opportunity for decentralization and growth of token-based economies.
We need to keep upgrading our traditional business to the newest internet-based model for hypergrowth in this fast-growing world of the internet.
We will be talking about one such model called Ownership economy introduced by Bitliberte, Such model uses blockchain technology as transparency plays a major role in maintaining the trust amongst the community.
This model revolves around a DAO-based ecosystem and NFTs to distribute fractional ownership and decision-making power in physical outlets and products.
DAO stands for decentralized autonomous organization, Like-minded people across the globe come together to invest and vote transparently on-chain to make huge decisions. Every investment and vote can be traced transparently by anyone and everyone on an immutable blockchain.
Non-fungible tokens, or NFTs, are giving ownership power in the hands of artists, companies, and individuals. This is usually a way for anyone to register digital or physical artwork, images, or video to represent their unique ownership on a blockchain.
Bitliberte is using DAO based ecosystem and NFTs as a medium to issue unique ownership of physical outlets, products, and digital services related to the Fashion clothing industry for the mass audience.
The market value of fashion industry in India is estimated to reach 190 billion USD by 2026 and this is the perfect time to explore possibilities of expanding in Web3-based decentralized protocols from traditional companies.