Web3 and blockchain technology: How digital asset ownership is flipping the current business model on its head

VentureBeat April 9, 2022
Jason Primrose, The Cluster Chronicles

With the implementation of blockchain technology and Web3, businesses and individuals alike are quickly seeing the value in what NFTs and digital asset ownership can offer their customers. Industries that have previously had to rely on outside distributors to reach their consumer base are now finding that challenge eliminated, as they utilize blockchain technology to bypass this step in the traditional business model.

Take a look at the literary industry, for example. Even large-scale novel collections such as Harry Potter took time to infiltrate the marketplace, going beyond book-selling and eventually encompassing consumer-facing products. What NFTs and Web3 do is allow individual creators to skip the middleman; taking on the role of distribution channel themselves and opening more jobs...

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