We talked to our Frontend team and together we will unravel the world of the frontend ecosystem.

The frontend ecosystem

In the early days of the web, server-side rendering was the primary method of generating HTML content and delivering it to clients. This involved writing server-side scripts in languages such as PHP, Perl, or Java to dynamically generate HTML pages based on user requests. This approach was simple and effective but limited when building dynamic and interactive user interfaces.

As web applications became more complex and interactive, client-side JavaScript frameworks such as jQuery, Backbone, and Angular emerged, allowing for more dynamic and interactive user interfaces. However, this came at the cost of slower initial page load times and poor search engine optimization, as search engines could not easily index the dynamically generated content.

The 3 biggest players in the modern frontend ecosystem are React, Vue, and Angular. According to statistics from the State of JavaScript Survey 2020, React is the most popular framework with a 68.9% adoption rate among developers. It is followed by Vue with a 29.4% adoption rate, and Angular with a 25.1% adoption rate.

With this, we can see that even before starting a project you have a choice between 3 frameworks that basically do the same thing. They may do it in different ways (though often there is significant overlap) but in the end, everyone is a component-based client-side library (React/Vue) or framework (Angular).

As an example, let’s take the core functionality of these frontend tools, rendering the page view.

Different approaches

The DOM (Document Object Model) represents the HTML tree in “Nodes”. Nodes are JavaScript objects that hold attributes, content, and child objects. This is then abstracted further into the VDOM (Virtual Document Object Model). This is a lightweight copy of the DOM. It is used to compare the actual DOM to see if there are changes and if it needs to be updated. With this approach, it is possible to avoid re-rendering the application unnecessarily.

React and Vue use DOM and VDOM while Angular uses change detection.

Change detection is a mechanism that tracks changes in an application’s data and updates the user interface accordingly.

Here we can see that React and Vue take a similar approach to solve the problem of re-rendering while Angular does its thing.

This approach can be more efficient than React’s virtual DOM approach in some cases, as it avoids the overhead of creating and managing a virtual DOM. However, it can also be less performant in certain scenarios, particularly when there are many components or when changes are made frequently. Ultimately, the performance differences between React’s virtual DOM and Angular’s change detection depend on the specific requirements and characteristics of the application being built.

So what? Is more options a problem?

Well no, however, the ever-evolving landscape of front-end development can be overwhelming for developers. The plethora of frameworks, libraries, and tools can lead to disorganization, confusion, and bloat, making it difficult for developers to create optimized and efficient code.

Along with the main 3, there are several technologies built either as an alternative or on top of these main technologies.

Some of the competitors: Svelte, Solid, Emberjs, Preact

All of the mentioned technologies are client-side rendering. This means the client-side app is a stand-alone project that is sent to the client as mostly empty HTML and to show the page content another request is made to the server serving the site and the server sends the client Javascript bundles that generate and fill in the HTML content.

Why?

Well the main benefits are:

Improved interactivity: With this method, it is easier to create highly dynamic sites without reloading the page.

Faster initial load times: Since the main bottleneck for web apps is network latency it just takes less time to send the client an empty HTML file, a CSS file, and a Javascript bundle that will fill out the page than sending a request to the server, waiting for the server to populate the page and then sending the big bundle over the internet to the client.

Improved scalability: It’s easier to maintain since the app is separated from the backend which in and of itself can be a complex codebase so adding “unrelated” code on top of it can complicate things.

So what are some of the drawbacks?

First, the fact that the app is rendered on the client side means the client machine is tasked with This can be resource intensive. It is noticeable if the client is on a low-end machine.

Second, a JavaScript dependency. Client-side rendering requires JavaScript to be enabled on the client side, which means that users who have disabled JavaScript in their browsers will not be able to use the application.

Another drawback is SEO. Since the app is just an empty HTML file when a crawler from let’s say Google requests the page to scrape and analyze the content in order to rank it there is nothing to analyze.

So what then?

The current best option would be hybrid options or specialized tools for the use case. What do I mean by that? Using the most appropriate tool for the job.

What are the most effective frontend development tools

Next.js

Next.js is a popular open-source framework for building server-side rendering (SSR) React applications. Along with SSR, it can also be used for static site generation and client-side rendering.

Using this react framework you can generate static pages on build time for the pages where the content doesn’t change. You can also render pages on the server if the data is dynamic. When delivered to the client it additionally has all of the client-side capabilities to dynamically re-render the page like any other client-side framework. This also means SEO optimization is not as big a concern since the page is rendered on the server and crawlers can get the full page content on request.

Next.js is also a server since it generates and renders pages and renders them for user requests. This means it can behave like a normal server, and it has a built-in Nodejs (express-like) API to handle REST requests. It is minimal but it can be extended to cover a surprising amount of use cases.

Astro

Astro is a relatively new open-source framework for building modern web applications using server-side rendering (SSR) and static site generation (SSG) techniques. It is flexible and can be used with various web technologies, including React, Vue, Svelte, and more.

Like Next.js, Astro supports server-side rendering, which allows better SEO optimization by providing search engines with fully rendered HTML pages. Astro’s performance optimization features make it an excellent choice for building fast and efficient e-commerce websites that need to handle large amounts of data and traffic.

Both can be used for similar projects but they have different approaches to generating pages. The choice between the two frameworks ultimately depends on the specific needs of the project and the preferences of the development team.

Astro may be a newcomer, but it is already very popular in the web development community, which is growing fast.

Gatsby

Gatsby is another popular framework for building modern web applications, and like Next.js and Astro, it offers many performance optimization features.

Gatsby achieves high performance through static site generation (SSG), which pre-renders pages at build time and serves them as static HTML, CSS, and JavaScript files. This approach can significantly improve page load times and reduce server load since pages can be served directly from a content delivery network (CDN) without server-side rendering.

Gatsby is older and is not as popular and depending on who you ask an obsolete way of solving the problem of server-side generation (SSR) and static site generation (SSG), tho this may be a symptom of the JavaScript community being all too eager to replace the current standard way of doing things and supporting the new kid on the block without any technical reason to do so.

The JavaScript ecosystem is notorious for rapid releases of updated frameworks and libraries that solve the same issue in a different way. This is true regardless of whether it is necessary or not. After all, sometimes it feels like there is another React killer every month. And yet we still keep coming back for more!

Recommended ➜ Read about web 3.0 mindset changes..

Wrap-up

Ultimately, frontend development has become an essential aspect of creating interactive and dynamic websites and applications. The three biggest players in the modern frontend ecosystem are React, Vue, and Angular, all of which offer different approaches to rendering page views. As far as modern web development tools go, Next.js, Astro, and Gatsby are all excellent options that can be chosen from among the many options available.

While the plethora of frameworks, libraries, and tools available can lead to confusion, and bloat, it also offers developers many options to choose from. However, the choice of the most effective frontend development tool depends on the specific requirements and characteristics of the application being built. Hybrid options or specialized tools for the use case are currently the best option. As frontend development continues to evolve, it will be interesting to see how new technologies and frameworks emerge to address the challenges and opportunities of creating engaging and interactive user interfaces.

Is your next project requiring front-end development support? If so, do you have any questions? Lumen Spei is here for you. Let’s talk about your project and see where we can go from there!

The post ​Introduction to the Frontend Ecosystem: Understanding the Modern WEB first appeared on Lumen Spei.

So we talked to our QA team and gave them questions to answer. Here’s your guide through QA – from A to Q . Learn all the different types of testing in QA and the key roles and responsibilities of QA, and BONUS tips for successful QA in software development, including testing in different environments and popular technologies and tools. Let’s get going! 

What is quality assurance (QA) in software development?

Software quality is one of the most important things when developing software. It is related to all areas of software development, from the initial idea to the actual implementation of the software by the end user. A QA engineer’s job is to guarantee or ensure that product quality meets or validates the business and technical requirements of clients or software users. It focuses on the quality of processes that can improve quality control and testing.      

Key roles and responsibilities of QA

There is usually an opinion that a QA engineer is only responsible for detecting bugs in some software, that is, testing the software. However, the position of QA is much more complex and includes all phases of software development, which distinguishes a QA engineer from a tester – from the initial idea to the actual implementation of the software by the end user. The following are all the steps of the software development process divided by 6 stages:

1. Analysis of requirements – involves reviewing the product documentation and determining which types of testing are necessary and to what extent the software will be included in those tests. This phase also involves deciding which part of the tests will be automated (which will be discussed in more detail below).
2. Test planning – during this phase, the test plan strategy, the time required to conduct the test, and the estimated cost are determined. It is also decided on the environment in which the tests will be performed, as well as the technology in which they will be used.
3. Test case development – tests and scripts are verified through documentation after the planning is completed. Relevant data for testing is found and documentation is written. It is also during this phase that automatic tests are written for individual modules.
4. Setup of the test environment – the phase in which the software and hardware conditions for testing a product are determined. This phase can be done simultaneously with developing test cases in some cases.
5. Test execution phase – the tests written in the previous phases are executed according to the plan and cases created. Testing involves executing test scripts, adjusting them, reporting possible bugs, and re-testing after they are fixed.
6. The phase of closing the process – the tests are completed, the results are analyzed, and plans for further testing are made.

Types of QA testing

Manual, automatic, functional, non-functional, black box, white box, etc., are the most basic divisions of testing. Here are the main types. 

Manual testing

Manual testing is most often used during “smoke” tests, that is, when it is necessary to test something short and quick. 

It is also used for tests that cannot be automated, such as comparing the front-end part of the software with the design. The purpose of manual testing is to cover as many scenarios as possible that cannot be automated and thereby ensure software quality. After development, when a new functionality comes for testing for the first time, manual QA checks its compliance with the specification and designs and writes test cases that can later be automated.

Automatic testing

Automatic testing is used due to the frequent repetition of the same tests. Because of the complexity of the product, when developing software and adding new parts, it is necessary to test the previous parts that were already made and were correct until then.

 The QA engineer’s role is to manually speed-test the new feature before writing the automatic part to cover the news permanently. This will shorten the retesting process. When the developer adds a new version of the software next time, automatic tests (CI/CD) are triggered to check whether the new software version does not compromise existing functionality.

Functional testing

Functional testing checks whether the functionalities provide the expected results. These include “Smoke”, “Regression”, “Retesting”, “Exploratory”, and “Negative”.

After the functional testing is completed, it is switched to non-functional testing. It focuses on application performance. Types of non-functional testing are: “Performance”, “Usability”, and “Security”.

One type of testing is rarely performed, instead, it is combination according to the requirements and the time allotted for testing.

Best tips for successful quality assurance in software development

One of the good practices that I would like to mention on this occasion is testing in different environments.

To better test the software before it reaches the end user, we use several environments. In our company, a team of experts decided that the optimal number of environments for the software we produce should be three.

In the first environment, developers upload software to the development environment, which is only used to test the software and is not visible to users. The second environment is staging, in which versions of the software are ready for showing to customers or users and for testing by potential users. Lastly, we have the production environment, where the finished product is placed and used by end users

Popular technologies and tools used in QA

We have witnessed that many different frameworks and tools for automatic testing can be found on the market.

Selection is made concerning which technologies and languages ​​are required for testing. Considering that there are many of them, we will refer only to those that our company carefully selected and implemented in the process of automatic testing.

1. Rest Assured – is a framework used for testing API calls with the help of Java libraries. It is very useful for testing HTTP calls due to easy response validation both in the body and in the response header. In it, we usually validate the status of the request, the speed of the response, the validity of the data, and the structure of the response. It also allows developers to write tests in combination with other testing libraries, such as JUnit, TestNG, Cucumber, etc.
   
2. Selenium – is a framework that we use for the automatic testing of web applications. It can be used to write test scripts for different browsers. This tool simulates user interaction with a web page. With the help of the catchers it uses, it binds to the web elements and performs the functions that we assigned to it (for example clicks on the link, presses the button, scrolls, and fills in the input fields). It also uses the catchers to validate whether the expected behavior of the application has occurred (whether it went to the intended page or the data from the input forwarded to the place where it’s needed).
3. Appium – is a framework used for the automatic testing of applications for mobile devices on platforms such as Android, iOS, and Windows. Its biggest advantage is that we don’t have to do any test modifications when testing on different platforms. We can write tests in various programming languages: Java, JavaScript, C#, and Python.
4. Jmeter – is an application that is used to test the performance of an application. It is used in such a way that the tool itself simulates a group of users, the size of which we determine, sending requests to our application, and from that, we get the statistical data we need to measure performance.
5. Postman is a tool used for testing API calls, that is, for testing the backend. Both manual and automatic testing can be performed with it. Its main advantage is that it is done in a GUI environment and is quite user-friendly.
6. Cucumber is a tool for writing tests so that non-programmers can understand them. It is combined with Selenium and Rest Assured in Lumen Spei, so we get tests that are easy to understand and adaptable even for non-programmers.
7. GitHub Actions (CI/CD) is a tool used for the continuous integration of tests on the server. When a new version is pushed, it runs tests automatically. The new version cannot be uploaded until the tests finds errors and they are corrected. 

The main reason for using this tool is that when changes are made to the application by a developer, there is a possibility that they will conflict with previous parts of the application or with parts added by others.

Recommended ➜ Read about web 3.0 mindset changes..

Benefits of including QA in the software development process

Modern software companies utilize QA knowledge and skills for the many benefits they provide. The main benefits of QA engineers and why it’s smart to have them on your team – speak for themselves. 

1. Detecting software defects early, allows the development team to have enough time to adapt the software before it reaches the end user!
2. Software testing reduces software development costs!
3. The time required for software release is reduced, and user security is increased!

Lumen Spei always includes a QA in its design and development process. If you need help with your next’s project quality assurance, we got you – contact us!

The post Why is quality assurance a key to software development success? first appeared on Lumen Spei.

The People and Medicine (PL Ludzie I Medycyna) Foundation was established in 2018 with a focus on patient experience, creating and using different solutions for helping people living with diagnosis.Testing, describing, and working towards a better experience using Participatory Design methodology, where actual users are researching, designing, testing, and agreeing on a final solution, among others. This was done for Patients4Patients. 

Patients4Patients is a peer-support-based mobile app – an innovative yet scientifically-grounded support system. There is a safe place where all questions can be asked, such as, “How will this affect my love life?”. The system allows recovered or experienced patients to provide practical and emotional support to the “novice” patients via 1:1 chat. After signing in, users can select their conditions and predefined conversation topics. In the app, they can filter anonymous patient databases based on this information to find matching peers.

Since 2022, Foundation set approach where users are actually invited to participate in decision-making and treated as members of the Product Team, which is what sets them apart from a typical approach! They want to be the first Polish, NGO-centered “project UTOPIA”-like [2] initiative to set pioneer standards for working with marginalized groups on Digital Products using Participatory Design.

As the war in Ukraine began, the idea was to translate the app into Ukrainian so that the estimated 2-3 million Ukrainians in Poland could also use it for emotional support.

In what condition did Lumen Spei find the project?

The Foundation received grant funding for the development of the application, the deadline was a bit challenging.

Before Lumen Spei’s involvement, there were around 600 active users. We decided to use the following stack of technology: 

• Flutter for the simultaneous development of the iOS & Android mobile app 
• Firebase for notifications, storage, database, and authentication

In the following five months of our operative development, the application was completed with all of the prior requests met, and was successfully deployed on the 22nd of August 2022 to the App & Play Store.

Here is where you can find the app right now:

• Pacjenci Pacjentom Play Store
• Pacjenci Pacjentom Apple App Store

What are the results before vs. after?

Our pro-bono contract was complete, and the Foundation planned to add Clubs and an educational space (module) for patients to learn how to:

1. provide instrumental and emotional support to each other,
2. maintain psychological well-being in illness,
3. create partnership relations with doctors and specialists,
4. think critically in the world full of fake medical news,
5. implement self-advocacy in their lives.

This new feature was developed shortly after both versions had their first production release (Store) and is scheduled for release as an updated version at the beginning of March. It was a milestone in the long-term partnership, which saw Lumen Spei become a contracted tech partner with the Ludzie i Medycyna Foundation, where we continued to develop and maintain their mobile applications. 

It’s clear that this application is making a significant impact and helping people in their everyday lives. As part of this case study, we even received a testimonial from an app user who says the following:

Helpful app with a very nice user interface

and

Very helpful app <3

We would like to include quotes from the main project’s shareholders involved in this collaboration at the end. Here are their thoughts. 

We want to thank everyone for their involvement in the project, and the resources given for this case study.

Lumen Spei is here to help anyone who needs tech support for a worthy cause. You can get in touch with us through Tech To The Rescue or directly. Throughout the world, technology should be able to help people and empower communities.

The post Collaborating for Good: How Our Pro Bono Work with a Polish Non-Profit Health App Became a Lasting Partnership first appeared on Lumen Spei.

Innovative solutions are making a splash, managing sales and marketing tasks with ease, and letting real estate agents focus on what their job actually is. In this article, we will explore what SwaS is and its significance in revolutionizing the way real estate agents and agencies manage their digital transformation. 

What Is Digital Transformation In Real Estate?

Digital transformation in the real estate industry is essentially the adoption of digital technologies into all facets of the business – from sales to marketing to operations and customer service. The whole point of this shift is to bolster performance, increase the bottom line, and improve the customer experience. 

The National Association of Realtors has reported that digital transformation is revolutionizing the way real estate agents and organizations function, resulting in improved competitiveness and better results for customers. 

The report further states, “digital technologies have the capability to upend established business models and open up new prospects for growth and success in the real estate industry”. However, let us not forget how things used to be before this change.

Today we will focus on sales and marketing and look at how the digitalization of the real estate industry took place and what is coming in 2023.

Real estate sales and marketing before the internet

Let’s take a walk down memory lane and remember that before the internet became widespread. In the past, real estate sales and marketing relied heavily on traditional methods such as print media, direct mail, and open houses. Realtors would also network to find clients, other agents, and their brokerage. These efforts were usually targeted at the local area, making it difficult for agents to showcase their listings to a wider audience.

To summarize, the entire process of real estate sales and marketing was long-winded, pricey, and mainly depended on personal ties and face-to-face meetings. But things became easier when the internet first arrived.

How the real estate industry adapted to the first internet

Real estate professionals were one of the first to realize the potential of the World Wide Web when it began to become more widely available in the ’90s and 2000s. They saw it as a great way to reach a greater number of people and promote their listings and services. 

The initial websites created by these professionals were basic. They had limited details about the properties and agents, yet this was a major leap forward for the industry. As technology progressed, real estate websites became more sophisticated, featuring virtual tours, multiple images, and comprehensive information about the properties. 

This enabled agents to promote their listings in a more immersive way, making it easier for potential buyers to get a better idea of what they were looking at.

The availability of data and the convenience of digital property searches have revolutionized the real estate industry, giving agents more options to connect with customers and boost their sales.

Real estate statistics on internet leads, sales and marketing

At the start of the internet era, real estate agents heavily depended on online promotions to get leads. Initially, these promotions were plain banner ads that were placed on prominent websites. 

As the technology surrounding online promotions advanced and with the introduction of social media, agents started using more sophisticated tactics. These tactics included activities such as SEO and PPC advertising. These allowed them to get their message to a bigger audience and target potential customers correctly. 

At the start of internet marketing, the conversion rates were quite low with only a small fraction of leads produced through online ads resulting in sales. Thereafter, as technology improved and more people got comfortable with the internet and the concept of buying a home online, conversion rates began to rise.

By 2015, studies showed that real estate leads generated through online advertising were increasingly likely to result in actual sales, with conversion rates reaching as high as 20-30%. This demonstrated the increasing effectiveness of online advertising for real estate agents and the growing importance of digital marketing in the industry.

The year when it all went downhill

After 2015 however, the conversion rates of real estate ads started to decline. The industry became saturated with digital advertising. As more and more real estate agents adopted digital marketing, competition for online real estate leads increased, leading to declining conversion rates. 

This was due, in part, to ad fatigue or “banner blindness,” where internet users became immune to the constant barrage of online advertisements. Additionally, many real estate agents struggled to effectively reach and engage their target audience through digital advertising, resulting in low conversion rates. 

This was especially true for social media advertising, where algorithms and constantly changing platforms made it difficult for real estate agents to maintain a consistent and effective online presence.

According to recent studies, the average conversion rate for real estate ads hovers around 1-2%, with only a small percentage of leads generated through online ads resulting in actual sales. This low conversion rate highlights the ongoing challenge real estate agents face in effectively reaching and engaging their target audience through digital advertising. 

Despite this, however, digital marketing continues to be an essential component of real estate sales and marketing, as the internet remains the primary source of information for home buyers and sellers.

Example of digital transformation of sales and marketing in real estate

An example of early digital transformation in the real estate industry is the widespread adoption of Customer Relationship Management (CRM) software in combination with many other digital transformation tools. That allowed real estate agents and agencies to manage their sales and marketing activities in multiple platforms, including lead generation, email marketing, and follow-up. By automating many manual tasks, CRM and automation software helps real estate agents save time and increase their productivity.

One of the key benefits of CRM software is its ability to provide real-time insights into the sales and marketing activities of an agent or agency. With real-time reporting and analytics, agents can track their progress and make data-driven decisions to improve their performance. This can result in a higher return on investment for their marketing spend, as well as a better overall customer experience.

By embracing digital transformation and implementing these technologies, real estate agents and agencies can remain competitive in an ever-changing industry and continue to grow their businesses.

How Is The Real Estate Industry Being Transformed In 2023

The real estate sector is witnessing a revolution, with a strong emphasis on automation and artificial intelligence. The usage of CRMs is now the norm. Equally important, the key to success in the realm of housing sales and marketing is making the most of smart automation to create more efficient and productive workflows. 

The principal idea behind this change is to enable real estate professionals to connect with potential clients in less than 5 minutes, and to have an automated appointment scheduler. Curious to find out what’s driving this transformation? 

Agents and firms are utilizing a multitude of advanced technologies, such as AI-driven lead generation, chatbots, and marketing automation, that allow them to automate mundane activities such as follow-ups, appointment scheduling, and lead nurturing, thus leaving them with more time to concentrate on other parts of their business. 

Furthermore, these tools assist agents to become more aware of their clients, including their shopping inclinations and activities, enabling them to customize their sales and marketing strategies to better suit the requirements of their potential customers.

To sum up, the digital revolution in the real estate business is leading to more proficient and successful sales and marketing operations, greater productivity, and improved customer experiences. 

As technology persists to progress and becomes more available, it’s likely that we will observe even more progress in the real estate market and the way that agents and agencies carry out their sales and marketing activities.

Digital transformation: agent perspective

The Digital Revolution is making a huge difference in the real estate business and all its stakeholders, notably agents and agencies. They’re able to use technology to: 

• Extend their influence
• Streamline operations
• Open up doors to a much larger pool of potential customers
• This leads to greater productivity
• Better customer experience
• Higher conversion rates
• It’s a win-win situation!

Digital transformation: customer perspective

With the help of technology, real estate agents are able to serve their clients a more special and customized experience for their clients including:

• Custom approach to locating the perfect property for the client 
• Transforming the way that customers and agents interrelate
• Efficient and smooth client journey from lead to close

Recommended ➜ Read about the drivers of digital transformation.

Key Elements Of Digital Transformation

The real estate sector is undergoing a tremendous shift due to digitalization, which is completely changing the landscape of how real estate transactions and promotions are transacted. According to an article from integrio.net, key elements of this transformation include: 

1. Improved customer journey
2. Personalized client experiences 
3. Creation of complex sales and marketing ecosystems
4. Informed choices
5. Use of Software-as-a-Service (SaaS) models
6. Business process automation

By having these components in place, real estate companies and brokers can make their operations more smooth and more productive, while providing clients with a tailored and top-notch service. This has generated a more interconnected and educated industry where customers can make better decisions and agents can offer quick and quality service.

Digital Transformation Challenges

Embracing the digital age in real estate can be a tricky process. Agents and agencies may come across a few difficulties while making the shift, including:

1. Adoption of new technology: Agents and agencies may find it challenging to embrace the latest technology, including modern CRM applications, automated processes, and digital systems.
   
2. Integration of systems: Ensuring that new technology integrates seamlessly with existing systems is a challenge for many agents and agencies.
3. Data privacy and security: As the real estate industry is inundated with digital technology, it’s essential that agents and agencies take steps to guarantee the safety and confidentiality of customer data.
4. Cost: Making the switch to more modern digital systems can be a costly endeavor for agents and agencies, particularly for smaller companies.
5. Staff training: Ensuring that staff is trained on new technology and systems can be a challenge for agents and agencies.
6. Resistance to change: Some agents and agencies may resist the move toward digital transformation due to a lack of understanding or a fear of change.

If the right steps are taken these difficulties can be tackled. Dedicated planning, quality instruction, and a willingness to accept change are all needed. By dealing with these obstacles, agents, and agencies can gain the advantages of digital transformation.

Recommended ➜ Read about the challenges of digital transformation.

Why Is Real Estate Digital Transformation So Important 

In the coming years, the real estate sector needs to embrace digital transformation to remain competitive. Clients are looking for rapid responses and access to all the information they need, and the digital transformation of this industry can help agents and agencies offer a more efficient experience. 

Keeping up with the latest technological advancements will create a competitive edge and help real estate professionals stay at the top of their game. So why is it so important to get on board with digital transformation by 2023?

You have 5 minutes to get in touch with a prospect

The speed at which real estate agents respond to leads is a key factor in securing potential clients. Today, the standard within the industry is to contact leads within five minutes. Can your agent do that? For every lead that comes in? What if they send a request at 10:30 PM?

Those who are slow to respond run the risk of losing clients to their competitors who will have already made contact. Roy Harmon, owner of Advertoscope, emphasizes the importance of being the first to reach out, as waiting longer than five minutes could lead to missing out on opportunities.

78% of prospects buy from the first agent that responds

Aspiring real estate professionals should be quick to reach out to potential leads. Responding within 5 minutes is the benchmark, as research has revealed that 78% of customers will go with the business that responds first. 

If you don’t act fast enough, you might miss out on the chance of signing up a new customer as your competitors may be quicker in reaching out to them. That very first communication between your agent and the prospect can have a significant impact on how reliable they think you are, as well as how they will perceive any possibilities. 

By being the first to reach out, an agency can differentiate itself, highlight its unique features and benefits, and create a lasting impression. As noted by Leif Peters, a Senior Account Executive at IntelliChief, the first vendor to engage a prospect has a golden opportunity to mold their opinions and create a memorable experience.

In the first minute sales conversions skyrocketed to 391%

Lead Connect has shown that if you respond to inbound leads within a minute, your sales conversion rate will soar by 391%. It isn’t just about scheduling property viewings, but actual conversions. If you can do this, you’ll join the elite 1% of B2B selling organizations and reap the benefits of their hard work.

As noted by Karl Norman, Business Development Director at Lead Connect, the ideal time to contact a potential customer is when they have just entered their phone number into the form, as they are available and thinking about the seller’s services. If the response time is slow, the prospect is likely to find another supplier.

80% decrease in lead qualification if you respond later than 5 minutes

If you take longer than 5-10 minutes to contact a lead, the likelihood of making a successful connection drops dramatically – a decrease of 80%. This clearly emphasizes the need to be quick in reaching out to prospects. 

Given that there are so many elements in the B2B world that you cannot regulate, it is essential to capitalize on the ones you can. Otherwise, your company may experience severe opportunity loss.

Today about 55% of real estate agents take up to 5 days to respond

A study revealed that 55% of the organizations in the survey took more than 5 days to answer leads and an astonishing 12% never replied. This is especially worrying taking into account that these leads could have been produced through paid promotion, which is now fairly costly. 

It is shocking that organizations would let these leads go without a response for an entire business week or even be lost totally. To remain competitive, companies should quicken their lead reaction time and make sure they don’t let these important leads escape.

Where is the industry going to achieve this?

The real estate industry is adopting new business processes which are aimed at addressing the issues of lead response time and prospect qualification. This involves the integration of new revolutionary SaaS CRM platforms powered by three key components: 

1. All top sales and marketing tools in one place
2. Battle-tested industry snapshots and assets. All are branded to your business.
3. Account manager with industry and tech knowledge.

Let’s not kid ourselves, there are plenty of SaaS platforms out there that can get the job done, but wouldn’t it be nice if you didn’t have to dwell into tech and marketing at all?

With SaaS solutions, there’s no one assigned to your business specifically with tech and industry expertise. This third component is what actually makes it Software-with-a-Service (SwaS). 

With SwaS, the problems of slow lead response time and poor prospect qualification are solved. Freeing up agents and agencies to focus on their job, while the platform takes care of the sales and marketing aspects with proper follow-up automation. This new model is set to revolutionize the way the real estate industry operates and improve the overall experience for both agents and customers.

SaaS vs SwaS

To better understand SwaS let’s make a quick comparison to what we already know. SaaS, or Software-as-a-Service, is a model where software is hosted and managed by a third-party provider and accessed over the internet by the end-user, i.e. agent or agency. This allows companies to leverage software solutions without the upfront costs and ongoing maintenance of traditional software models. 

Whereas, SwaS, or Software-with-a-Service, takes this concept a step further by incorporating the human element relevant to the industry, in this case real estate. With SwaS, the provider takes care of all the sales and marketing processes, including creating a complex lead response and qualification system. 

This removes the need for companies to worry about setting up technology, automation, and other technical aspects, enabling them to focus solely on their business goals.

Is Your Business Ready For Digital Transformation?

There’s no doubt – as a result of the introduction of SwaS, the real estate industry is undergoing a digital transformation. It solves the problem of lead response time and prospect qualification by taking care of sales and marketing, leaving agents and agencies free to focus on what they do best.

By combining the convenience of SaaS with the personal touch of human interaction, SwaS offers a comprehensive solution to the challenges faced by the real estate industry.

As a leading digital transformation agency, Lumen Spei is committed to helping real estate agents and agencies with their future digitalization. We invite all those who are looking to enhance their sales and marketing efforts to reach out to us and experience the benefits of our SwaS solution.  

With our team of experts, we are confident in our ability to help you achieve your goals and grow your business.

The post Digital Transformation in Real Estate Industry: Sales & Marketing first appeared on Lumen Spei.

Digital products have become increasingly dependent on user experience as technology advances.

It’s important to understand the difference between UI and UX design. UI or User Interface design is focused on the visual elements and layout of a product, while UX or User Experience design is concerned with the overall feel and functionality of a product. UI/UX design combines user interfaces and user experiences to create visually appealing, intuitive, and easy-to-use products.

A well-designed user interface can make all the difference in providing a seamless and enjoyable experience for end-users.

The 5 fundamentals of UI/UX design

UI/UX design should always come before development, as it lays the foundation for the success of the final product. It is also a crucial part of every product development process because it ensures that the finished product meets the needs of the user.

We talked to our UI/UX designers and asked them to share what they think are the fundamentals of their work.

We’ll go through the key principles of good UI/UX design, the five fundamentals, and how they can be used to create effective user interfaces.

Whether you’re a designer, developer, or simply interested in the topic, we hope this article provides valuable insights and inspiration. Let’s get started!

#1 Usability

Usability refers to how easy it is for the user to accomplish their goals with the product. A usable interface should be easy to understand and navigate, with clear and consistent layouts and design elements.

One of the key benefits of usability in UX/UI design is that it improves the user’s experience. A product that is easy to use and navigate will be more enjoyable for the user, leading to greater satisfaction and loyalty. In contrast, a product that is difficult to use will cause frustration and may lead to users abandoning the product altogether. This is particularly important for e-commerce websites, as a poor user experience can lead to a high bounce rate, which can have a significant impact on the website’s bottom line.

To ensure that a product is usable, designers should follow a number of key principles. One of the most important principles is to keep the user in mind at all times. This means understanding the user’s goals, needs, and behaviour, and designing the product accordingly. This can be achieved through user research, which involves gathering data from users through methods such as interviews, surveys, and usability testing.

#2 Accessibility

Accessibility in UI/UX design refers to the practice of designing products that are usable by people with disabilities. This includes individuals with visual, auditory, motor, and cognitive impairments. Accessibility is an important aspect of UI/UX design because it ensures that a product is inclusive and usable by a wide range of users, regardless of their abilities.

The information and user interface components must be presented in a way that users can perceive, whether through sight, sound, or touch. This includes providing text alternatives for non-text content, captioning for videos, and providing sufficient contrast between text and background colors.

The user interface must be operable, which means that users can interact with it using a keyboard, mouse, or another input device. This includes providing keyboard shortcuts and making sure that buttons and links are large enough to be easily clicked or tapped. The information and operation of the user interface must be easy to understand. This includes providing clear instructions and labels and making sure that the navigation and layout are consistent and logical.

For more information on accessibility standards, visit W3C’s (Web Accessibility Initiative / WAI ) website.

#3 Learnability

Learnability is the ease with which a user can learn how to use a product. A learnable interface should be simple to understand and use, with simple instructions.

This can be accomplished by employing well-known patterns and conventions, as well as providing clear labels, tooltips, and other forms of guidance. Designers must consider the user’s prior knowledge and experience when creating a learnable interface and design the interface accordingly. Designers must also consider the user’s motivation and goals, and design the interface to support these goals.

#4 Aesthetics

Aesthetics refers to the visual appeal of the product. Aesthetics is important because it can affect the user’s perception of the product, and it can also help to create a sense of brand identity.

To create an aesthetically pleasing design, designers must select colors, typography, and imagery that are visually pleasing and align with the brand. To create an aesthetically pleasing design, designers must consider the product’s target audience and the emotional response they want to evoke. Additionally, designers must consider the product’s context, such as the environment in which it will be used, and design the interface accordingly.

#5 Effectiveness

Effectiveness refers to how well the product meets the needs of the user. To create an effective interface, designers must conduct user research and testing to gather feedback and make any necessary adjustments.

It is also important to continuously iterate and improve the product based on user feedback. The effectiveness of the interface can be measured by analyzing key performance indicators such as user satisfaction, task completion rate, and error rate. By considering the effectiveness of the interface, designers can ensure that the product is meeting the needs of the user and achieving its goals.

#6 Bonus: Way of thinking

An important aspect of UI/UX design is user research and empathy, but it is also the mindset of a designer. Design solutions are centered on understanding users’ needs and addressing them through understanding their needs.

UX/UI designers with a strong focus on user research and empathy will constantly strive to understand the users’ needs, goals, and behaviours, as well as their perspectives and pain points. This mindset is reflected in the way the designer approaches the design process, from conducting user research to testing and iterating on the design.

For UI/UX designers, empathy and user research are also essential to adapting to users’ changing needs. In an era where technology and user behaviour are constantly changing, a designer who understands the users’ needs and adapts to them will be able to design interfaces that are both visually pleasing and effective.

Recommended ➜ Read about the the digital transformation challenges

Lumen Spei UI/UX designers are here to help you.

Our team of experienced designers is dedicated to creating intuitive, user-friendly interfaces that will help you stand out in the crowded digital landscape.

We know that our clients want results, and we’re confident in our ability to deliver them. But that’s not all we do.

We choose the dedicated approach not only in the end product but also in the process.
That’s why we always keep our clients informed and educated throughout the process. We want to ensure that you’re not just satisfied with the end result but also understand the reasoning behind the design choices we make.

The user experience is constantly being improved and enhanced by our team. In turning our knowledge and expertise into exceptional experiences for our clients, we achieve our mission.

You can elevate your digital product with a top-notch user experience with Lumen Spei. As your product development partner, we are here to help you achieve your goals. Get started today by reaching out.

The post Designing for the user: Understanding the fundamentals of UX/UI first appeared on Lumen Spei.

If you’re reading this in 2023, chances are you’re already familiar with the concept of NFTs, but for those new to the space, here’s a quick rundown: NFTs are digital assets that are unique, indivisible, and can’t be replaced. They’re quickly gaining popularity in the art world as a way to authenticate and sell digital art, but they have the potential to be used for much more. 

In this blog post, we’ll explore the process of creating an NFT collection in 2023. 

From sourcing ideas and inspiration to minting and selling your collection, we’ll cover all the steps you need to know to get started in the exciting world of NFTs.

What is an NFT? 

Now, let’s start by defining an NFT. 

An NFT, or non-fungible token, is a digital asset representing ownership of a unique item or piece of content. Unlike other digital assets, such as cryptocurrencies, which are interchangeable and have the same value, NFTs are unique and cannot be exchanged for other tokens of equal value. This means that they can be used to authenticate and prove ownership of items such as artwork, collectibles, and even virtual real estate.

NFTs are stored on a blockchain, which is a decentralized and secure digital ledger that allows for the transfer of ownership and authenticity of the asset to be verified. 

Because of this, NFTs have gained popularity in the art world as a way for artists to sell and authenticate their digital artwork. They have also been used in gaming to represent in-game items and virtual real estate.

In addition to these uses, NFTs can be used for many applications, such as ticketing, identity verification, and even supply chain tracking. 

As the technology continues to evolve, it will be interesting to see how NFTs will be used in the future.

P.S. Be sure you don’t miss out on our Lumen Spei NFT collection!

Why should you create an NFT collection?

Whether you want to create a community, increase your online sales, or even showcase your art, several advantages are closely tied to creating your NFT collection in 2023! 

Here is our list of benefits of creating your NFT collection! 

Benefit #1: Increased exposure

Creating an NFT collection can increase the artist’s or creator’s exposure, as the collection can be easily shared and promoted on social media and other online platforms. 

This can increase the artist’s visibility and potentially lead to new opportunities for them.

Benefit #2: Digital scarcity

 An NFT collection can create a sense of digital scarcity, as each NFT is unique and cannot be replicated or counterfeited. This can add value to the collection and make it more desirable to collectors.

Benefit #3: Passive income

If an NFT collection is successful and in high demand, it can generate passive income for the creator through sales of the NFTs.

Benefit #4: Future proof

Because NFTs are stored on a blockchain, they are resistant to censorship and are considered a more secure and permanent way to store digital assets. This can provide peace of mind for creators who want to preserve their work for future generations.

How to create an NFT and an NFT collection

Creating an NFT (non-fungible token) can be a straightforward process involving a few steps. Here is an overview of how to create an NFT in 7 steps:

Step #1: Choose an NFT platform

There are several popular NFT platforms available, each with its own features and fees. It’s important to research and choose a platform that best fits your needs. 

Some platforms, such as OpenSea and Rarible, are more general and can be used to create and sell a wide range of NFTs, while others, such as SuperRare and KnownOrigin, focus on specific types of NFTs such as art and collectibles. 

It’s essential to consider the platform’s fees, community, and reputation before choosing one.

Step #2: Connect your crypto wallet

Once you have chosen an NFT platform, you will need to create an account and connect it to your wallet. This is typically done by linking your account to a Web 3.0 wallet such as MetaMask or Coinbase Wallet. 

These wallets will store your private keys, which are needed to access and manage your NFTs.

Step #3: Create the piece of art – your NFT

The next step is creating the digital asset you want to turn into an NFT. This could be a piece of art, a music track, or any other type of digital content. 

The digital asset should be in a suitable format that can be uploaded to the NFT platform, such as a JPEG or MP3 file.

Step #4: Create a smart contract

To mint an NFT, a smart contract will need to be created on the blockchain. 

A smart contract is a piece of code that defines the characteristics of the NFT, such as the token’s name, symbol, and total supply. The smart contract is what ensures the uniqueness of the NFT and allows it to be tracked and verified on the blockchain. 

Some NFT platforms provide pre-built smart contract templates that you can use, while others may require you to create your own smart contract.

Step #5: Mint your NFT

Once the smart contract is set up, you can mint your NFT by uploading the digital asset and linking it to the smart contract. 

This will create a unique digital token representing your blockchain asset. The minting process may vary depending on the platform but typically involves a confirmation from the wallet and payment of a fee.

Step #6: List your NFT for sale

After the NFT is minted, it can be listed for sale on the NFT platform. 

You will need to set a price for the NFT and provide information such as the name, image, and description of the NFT. This is the point where the NFT becomes available for purchase by others.

Step #7: Promote your NFT collection

Finally, you can promote and share your NFT on social media or other online platforms to attract potential buyers. You can also track your NFT on the blockchain to see who owns it and for how much it was sold. 

The idea is to make it easy for people to find your NFT, and entice them to purchase it.

Promoting an NFT collection is no easy task, so check out all the best ways to promote your NFTs!

It’s worth noting that each NFT platform may have its process and set of features, so it’s crucial to read the documentation and familiarize yourself with the specifics of the platform you choose.

Recommended ➜ Read more about best Web 3.0 business ideas in 2023

How to earn money with NFTs?

There are numerous ways for anyone to start earning money with NFTs. In the following chapter, we’ll go through the 3 most popular methods for earning money with NFTs in 2023. 

Earn money with NFT sales

Earning money with NFT sales can be a viable revenue stream for creators and artists. By creating unique digital assets, such as artwork or music, and minting them as NFTs using a smart contract, creators can set prices and list them for sale on various NFT marketplaces. 

These marketplaces connect creators with potential buyers and can provide a platform for promoting and sharing NFTs.

Additionally, by tracking and managing the NFTs on the blockchain, creators can see who owns their NFTs and for how much they were sold, which can help them understand the value and popularity of their work. 

It’s also important to note that NFTs can be used for other forms of digital assets, such as videos, tweets, and even virtual real estate, expanding monetization possibilities.

Earn money through royalties

Earning money with NFT royalties is another way for creators to monetize their work. This method is available for NFTs that allows creators to set a royalty rate on their NFTs, allowing them to earn a percentage of the sale price every time their NFT is resold. 

This way, creators continue to earn money from their NFTs, even after they have been sold. To set this up, creators need to look for NFT marketplaces and platforms that support royalties or use a smart contract that allows them to include this feature. 

It’s a great way to continue generating income from your work and to ensure that your NFTs maintain their value over time.

Here is a longer list of NFT platforms to which you may want to pay attention. Find out which platforms offer royalties for creators and you’ll be one step closer to earning money through NFT royalties!

Recommended ➜ Read more about best use cases of blockchain in sports industry

Earn money through commissions 

Earning money with NFT commissions allows creators to earn money by allowing others to resell their NFTs and take a commission on each sale. 

Creators can set up their NFTs on a marketplace or platform that allows these commission-based sales and set their own commission rates. Additionally, creators can reach out to third parties such as galleries, agents, or collectors and agree on a commission percentage for them to sell their NFTs. 

This can increase the exposure of the creator’s work and lead to more sales. It is a way to generate more sales and revenue from your NFTs, especially if you’re looking to partner with other entities to promote and sell your NFTs.

Recommended ➜ Read about the impact of Web 3.0 technologies on digital transformation

Promote your NFT and skyrocket your NFT sales

In conclusion, creating an NFT in 2023 is a relatively straightforward process, but it does require some technical know-how and an understanding of the basics of blockchain technology. 

By following the steps outlined in this post, you’ll be well on your way to creating your own unique and valuable NFTs. However, it’s important to remember that the world of NFTs is constantly evolving, and new technologies and best practices are always emerging.

So, stay informed, stay curious, and don’t be afraid to experiment and push the boundaries of what’s possible with this exciting new medium.

And if you need help with bringing your NFT project to the market, reach out to us! We have dozens of Web 3.0 experts ready to take on a new challenge! 

The post How to Create an NFT Collection in 2023 first appeared on Lumen Spei.

Whether you want to design a completely new Metaverse or create an NFT collection for your brand – the possibilities are endless. And Lumen Spei can help you realize any Web 3.0 business idea!

We’ve helped brands build innovative blockchain solutions, from an idea on a whiteboard to a completely developed and monetized solution.

Let’s turn your Web 3.0 business idea into reality! Contact us, and we’ll build something great together.

Without further ado, let’s start!

What is Web 3.0?

Web 3.0, also known as the decentralized web, is the next evolution of web technology.

Unlike Web 2.0, which is primarily controlled by large tech companies and central servers, Web 3.0 relies on decentralized networks and distributed ledgers to function.

This not only allows for greater privacy and security but also opens up new opportunities for businesses operating in Web 3.0. The decentralization of Web 3.0 technology gives power back to users, creating new markets and business models.

Additionally, Web 3.0 offers unprecedented data ownership and transparency, allowing businesses to easily track transactions and interactions within their networks.

As Web 3.0 continues to evolve and expand, it presents exciting possibilities for businesses seeking more efficient and secure ways to operate online.

Some examples of Web 3.0 businesses include decentralized marketplaces, distributed cloud storage platforms, and peer-to-peer lending networks. With the right idea and execution, Web 3.0 has the potential to revolutionize industries and create entirely new ones.

Web 3.0 comes with a plethora of benefits, and the most notable are:

• Control over data ownership
• Universal access to all data
• Freedom for interactions
• Increased security
• Content creators get more control over their work

In short, Web 3.0 completely shifts the current paradigm of how companies and individuals conduct their business online.

Let’s discuss how Web 3.0 changed how we do business today!

Recommended ➜ Read more about best use cases of blockchain in sports industry

How does Web 3.0 impact businesses?

The introduction of Web 3.0 to the masses and, especially, business owners caused a tectonic shift that we are currently experiencing.

Each and every aspect of a business has been impacted and can be reimagined in the Web 3.0 space. Let’s analyze several business aspects and talk more in detail about how Web 3.0 impacts business!

Impact of Web 3.0 on supply chain management

Supply chain management involves coordinating and overseeing a company’s various suppliers, manufacturers, warehouses, and distributors.

However, traditional supply chain management strategies often need help with transparency and traceability issues. The decentralized nature of Web 3.0 technology offers potential solutions to these issues through Web 3.0 business applications.

Blockchain technology allows the creation of immutable records that can be easily accessed by all parties in the supply chain. This not only improves transparency but also facilitates traceability by providing a clear record of a product’s journey through the supply chain.

Recently, businesses have been shifting from traditional supply chains to more decentralized supply chain networks (SCNs). They comprise of networks of suppliers, manufacturers, retailers, distributors, and all other included members in the supply chain network.

With Web 3.0 focusing on decentralization, it’s poised to make supply chains more efficient, secure, and reduce unnecessary costs.

As Web 3.0 technology continues to evolve, it has the potential to revolutionize supply chain management and improve overall efficiency in the industry.

Impact of Web 3.0 on data management

As the internet progresses from Web 1.0 to Web 2.0 and finally to Web 3.0, we have seen a change in the ability to share and collaborate on data.

Through time, this led to new business models that focused on data sharing and data collaboration. And as we progress further into the era of Web 3.0, we see that new data-driven businesses are leveraging data to create new value propositions and offer new, never-before-seen services. 

Increased use of data in Web 3.0 allows businesses to get a better understanding of their customers. This, in turn, enables creating tailored services and products and getting a few steps closer to successfully selling your products and services online. 

Impact of Web 3.0 on marketing and advertising

In the first phase of the internet, Web 1.0, the focus was on providing users with information. It was the read-only stage of the internet. 

Then, Web 2.0 came, enabling users to have two-way interactions with the internet – they could read AND write information. This is the phase we are all very well accustomed to. 

Finally, the next phase of the internet took off, and Web 3.0 was formed. This allowed users to read, write, and OWN information on the internet. A simple article written on a blockchain is now in the full ownership of the author. This was never the case in the past.

Moreover, this shift made a significant impact on marketing and advertising. It allowed marketers to craft more personalized user experiences and effectively reach their audiences. 

And the results are amazing. We see increased sales and brand awareness from companies that already chose to move into the Web 3.0 space. We expect to see more brands switching to Web 3.0, even though they may not fully realize the impact, just to stay ahead of the competition and meet the needs of their customers. 

Recommended ➜ Read more about digital transformation tools in 2023

What are the best Web 3.0 business ideas in 2023?

As the internet continues to grow and evolve in the Web 3.0 space, so do the business models. 

Completely new job positions are opening and new types of businesses are becoming widespread. This article chapter will go through the 7 most popular Web 3.0 business models.

You will get a grasp of how to generate revenue in Web 3.0 and how to start. Let’s jump right in.

#1 Create an NFT collection

NFTs are one of the most crucial Web 3.0 phenomena. They are a digital representation of an asset in the physical world and are always in the form of a picture, art, music, video, or any other digital content.

Consequently, an NFT collection comprises individually unique NFTs and may carry special perks for owners of said NFTs.

NFT is short for a non-fungible token, meaning there are no 2 same NFTs. They cannot be multiplied or divided. Their supply is limited, especially in a collection. Buyers usually want to have rare and unique artistic representations of different files, so such unique NFT collections generate demand right from the start. 

There are numerous benefits to starting an NFT collection! 

• The supply of digital art is in your total control
• Creating an NFT collection allows for the creation of a dedicated community
• Digital art creation can easily be outsourced
• You can focus on only one type of NFT

Of course, there is always a risk of your collection not being sold out. So, remember that you need to create a winning promotion strategy for your NFT collection!

P.S. Be sure you don’t miss out on our Lumen Spei NFT collection!

#2 Develop a DApp

A DApp stands for a decentralized application running on the blockchain. Even though it is more complex, to develop a DApp, you must follow the same principles as when developing traditional web applications. 

The main difference between traditional applications and DApps is data storage. Instead of storing all the user data in a centralized system, the data is broken up and stored on different servers.

The advantage of DApp over traditional applications is that they eliminate the chance of data theft. DApps ensure maximum data security, which is one of the key reasons for the growing number of DApps developed in 2022. 

Another common issue with traditional applications, the single point of failure, is eliminated by using DApps. 

DApps are present in numerous niches, from gaming to social media and crypto wallets. Even though you are not in control of data on DApp, you can still easily monetize it in many different ways.

Some of the ways to monetize a DApp are: 

• Token launches
• Creation of digital goods
• Transaction fees
• Advertisements
• Donations

There are more ways to monetize your DApp, so keep that in mind when thinking about starting your own. 

Whatever idea you have for your next DApp, you can count on Lumen Spei to execute it flawlessly. 

#3 Promote Web 3.0 projects

Starting a marketing agency has been a popular idea for ages, and it’s safe to say that marketing remains relevant in Web 3.0! 

You must always remember that there are many Web 3.0 projects now, but not all get appropriate attention from target users. This allows you to cover that emerging market and position your business as a Web 3.0 marketing agency.

But there is a catch. Promoting Web 3.0 projects is much different than promoting traditional Web 2.0 projects. 

To promote Web 2.0 projects, you can use user-specific data to personalize your ad campaigns and reach target audiences. In Web 3.0 space, this works a bit differently. You will need to get accustomed to new marketing channels like Discord and Telegram and completely new marketing strategies.

More than anything else, this is an opportunity for businesses and individuals looking to focus on a growing niche. Of course, this requires substantial knowledge of blockchain, crypto communities, and NFTs. 

Limiting your niche to only Web 3.0 projects will give you a competitive advantage against agencies still focusing only on Web 2.0. 

#4 Design a Metaverse and host virtual events

Whether you know much about it or not – you have already heard about a metaverse several times. Metaverse projects have been one of the most popular business ideas in the blockchain space for the last few years. And in 2023, their popularity is growing even further. 

Major metaverse projects like Decentraland or The Sandbox have solved their data storage question by storing all data on the Ethereum blockchain. This enabled users to manage all aspects of their in-game digital identities with a crypto wallet. 

Before you even think about starting your metaverse project, think about what you want to enable your users to do. The most enticing aspect of the metaverse for users is the freedom they get by joining.

They can play different games in a metaverse, socialize with other users, purchase physical and digital products, and even purchase a parcel of digital land. 

#5 Create a play-and-earn blockchain game

Play-to-earn blockchain games have taken over the blockchain. But as time passed, many users recognized play-to-earn games as Ponzi schemes. Recently, the term has been updated, and today we know these games as play-and-earn. 

Play-and-earn blockchain game model focuses on developing an attractive game for Web 3.0 gamers. When the game is fun enough to play for long periods, the development of earning component comes next.

However, gamers have fully embraced this future gaming model where they can play games and earn by doing so. Until now, this was unimaginable for many gamers who aspired to find a way to earn by doing what they love.

Now, how to successfully create a P2E game?

For instance, you can create a web platform or a DApp that will allow players to earn certain tokens. In many cases, the web platform (or a DApp) will use the power of users’ devices to mine that project’s cryptocurrency.

And to reward your players for their loyalty – you can reward them with a certain amount of cryptocurrency. 

In essence, the idea is that both you and the player earn money simultaneously. Of course, there are numerous ways to monetize your Web 3.0 game, like in-game advertisements, donations, or in-game purchases. 

There is a high demand for passive income generation through entertainment today, and users are discovering new ways to earn passive income daily. The more earning opportunities you provide your players, the more players you can attract. 

Creating a game from zero is never easy. It has to be fun, creative, and meaningful if you aim to have loyal and dedicated players.

If you need help with creating such a blockchain game, let’s talk! Our blockchain experts are experienced in building immersive game experiences!

P.S. Read our complete guide for beginners to Web 3.0 gaming to find out more crucial info before you decide to develop your own game! 

#6 Launch a DAO

DAOs, short for decentralized autonomous organizations, have become extremely popular in 2022. They perform on a unique model that may sound unusual initially, but it’s always good to remember that many DAOs are active right now, and many are profitable. 

When we think about how organizations are run today, we can immediately identify some key issues. The first of these issues, and the most important one, is the lack of transparency. Crucial decisions are made at the top, with the rest of the organization having a little-to-none influence on these critical decisions.

Often, DAOs are started by groups that share similar interests. They want to work together in an organization that operates without a hierarchical authority figure. This allows them to work with total transparency. No emotions, only math-based decisions.

Through their use of smart contracts and governance protocols, they have enabled numerous communities to take ownership of causes that are of great importance to them. 

Here is an example. 

A charity organization usually has a Board and a certain number of members. But when deciding how to spend the available funds and which activities to organize, the decision is often left to the Board. 

Decentralizing this charity organization creates new opportunities for the community. In such a decentralized organization, every member has a direct say in how the organization is governed. 

Of course, with such new concepts, there are always several drawbacks to pay attention to. For instance, including too many people in a single decision raises fear of the organization being slowed down. 

Also, in DAOs, there is always a risk of a 51% attack, which means that 51% of the votes are being harmfully manipulated to take control of that DAO. Despite those fears, many DAOs exist today. They make their decisions efficiently, continuously improve, and end their business years with profit. 

We have prepared a step-by-step guide for starting a DAO, so make sure you don’t miss it. If you need help building your new decentralized organization, contact us! We would love to help you.

#7 Create cryptocurrencies

The number of cryptocurrencies available on trading platforms these days is incredible. Some cryptocurrencies can be used across all platforms, but other cryptocurrencies can be used only for unique purposes. 

For example, if you create a decentralized platform, it is a lucrative idea to create a cryptocurrency usable only on that decentralized platform.

The best thing here is – anyone can create a cryptocurrency. All that is needed are coding skills and knowledge of computer science. 

While everyone can create a cryptocurrency, not everyone can grow that cryptocurrency. If your cryptocurrency is designed for a unique purpose, promoting and growing it comes off as more effortless. 

You can achieve this by creating your blockchain technology and cryptocurrency or simply by modifying existing blockchain technologies. 

One great example of a cryptocurrency with a unique purpose would be for cryptocurrency to serve as an entry token for your business platforms. So, the more businesses decide to join your platform, the more your cryptocurrency grows.

Creating a cryptocurrency is beneficial for several reasons. 

• Creating a cryptocurrency with a unique purpose improves your brand’s relevance and puts your business on the map
• Cryptocurrency can create a new passive income stream for your business
• Creating a cryptocurrency is an easy-to-complete process

Of course, there are always some drawbacks when discussing a specific business idea. In this scenario, what you need to understand before venturing into creating your cryptocurrency is: 

• You need to have a large budget
• You need to have solid working decentralized systems and coding skills

However, this is a solid business idea, and countless cryptocurrencies have already found their place on the global crypto markets. 

If you have a future cryptocurrency project in mind, we can help! Let us know and our team will do their magic and get your cryptocurrency on the exchanges! 

Recommended ➜ Learn how to take advantage of digital disruptors and blockchain in your industry

How to earn money from blockchain? (3 bonus Web 3.0 business ideas)

In the previous chapter, we’ve discussed the best 7 Web 3.0 business ideas. But if you are not looking to start your own blockchain business, there are still ways to earn money from blockchain! 

Cloud mining

Cloud mining started as a way of allowing users to mine cryptocurrency using rented cloud computing power. They don’t have to install or directly run any related software or hardware. 

Anyone can participate in cryptocurrency cloud mining by simply creating an account with a cloud mining company and paying a minimal mining cost. 

Buy cryptocurrency and HODL

If you are a cryptocurrency investor, you are most likely familiar with this investing philosophy. Usually, crypto investors buy coins and tokens like Bitcoin, Ether, and Ripple just to hold them in their wallets indefinitely. 

They are confident that the prices will rise and that they can sell their crypto at a profit. 

This sometimes comes off as true with some cryptocurrencies, such as Bitcoin and Ether. They maintain their standard price fluctuations and are often considered a safe investment by numerous financial advisors. Of course, every asset can be traded anytime, but HODLing (buying and refusing to sell) has proven to be a fruitful crypto-investing strategy in many cases. 

Please do not take this as financial advice. We urge you to do your crypto research before deciding to buy cryptocurrencies.

Earn money by staking cryptocurrencies

Crypto staking is highly similar to term savings. You will earn interest when you invest your money and lock it in the bank. The same happens when you stake your cryptocurrencies.

By staking your cryptocurrencies, you lock them in exchange – and earn interest or rewards from the platform for doing so. Many exchange platforms already offer their users to stake their cryptocurrencies with them.

The issue with staking cryptocurrencies is their fluctuating prices. So, the lowest risk option for staking crypto is to stake stablecoins. Stablecoins, like USDC, eliminate this risk of price fluctuation.

The best thing you can do now is – research various staking options, do your own cryptocurrency research, and decide whether staking cryptocurrencies is a good way to go.

Recommended ➜ Read about the impact of Web 3.0 technologies on digital transformation

Lumen Spei will help you explore the best Web 3.0 business ideas

Now that you have seen what kind of Web 3.0 business ideas are viable in 2023, all that is left is to start a Web 3.0 project!

Our digital experts are highly proficient in building innovative Web 3.0 solutions, and our digital transformation consultants will guide you through the entire process of optimizing your business processes.

We go all-in on every project we take up. Our team is guided by a short philosophical thought – the client’s success is our success!

Reach out to us, and let’s talk about new future-proof projects and ideas! Or you can schedule a call with us right away!

The post Best Web 3.0 Business Ideas for 2023 first appeared on Lumen Spei.

As a product owner, you are responsible for driving product development and ensuring product success.

With a motivated Product Owner and a well-coordinated team, the possibilities are endless.

In this post, valuable insight will be provided into the role of product ownership in the IT industry and the rewards that come with it.

Finally, I will offer tips and strategies for creating a successful Delivery plugin product with deliveryfrom.shop and unlocking the secrets to product ownership success.

Plugging into logistical success

Software is essential when it comes to connecting with the real-life problems that logistics in the courier industry, objectively speaking, has. With the use of software, Product Owners can create a more efficient and cost-effective system for delivering products.

The software can be used to track deliveries in real-time, provide customers with fast and reliable shipping service, and reduce the time and cost associated with order fulfillment. Additionally, the software can help automate processes, reduce manual labor, and improve customer service.

This allows for a seamless connection between the customer and the courier, ensuring that orders are delivered quickly and efficiently.

There are two products of this kind coming from Lumen Spei’s software factory:

• GLS Delivery plugin for WooCommerce
• DPD Delivery plugin for WooCommerce

These products perform a simple yet crucially important task – printing labels to attach to packages. It eliminates the need to manually pull the necessary data from a customer’s order and fits it into an official label’s layout, provided by two courier companies. 

Additionally, it resolves the issue of having to call or mail out the courier to arrange a package pickup. With our plugin solution, once the label is printed, your courier is automatically notified of the order and will soon come to collect it.

Therefore, by offering an alternative to the traditional approaches, these plugins can help to enhance efficiency, productivity, and effectiveness in any given situation, as their purpose is to provide a unique solution to a problem.

Don’t even get us started on the bulk ordering option. For instance, you can bulk up your entire order with just one click by the end of the working day. This eliminates the need to manually gather customer data, but rather prints it for you and arranges for the delivery pickup.

P.S. We love working with data! Read our opinion piece on how big data reveals digital transformation opportunities!

Having a good product might not always be enough

Marketing a WooCommerce plugin can be a challenging and daunting task. With the ever-growing number of plugin options available, it can be difficult to stand out from the competition. As already highlighted, it requires an understanding of the customer journey, the product life cycle, and the overall market landscape. 

Additionally, it is essential to take a creative approach to market the plugin and find innovative ways to reach potential customers. You must have the knowledge, skills, and resources to ensure the plugin is seen by the right people and is marketed effectively.

Let’s take a look at some of the most common life cycle steps for a software plugin:

1. Ideation: The first step is to develop an idea for a new software plugin. This could involve brainstorming and research to identify potential market opportunities. 
2. Design: The next step is to design the software plugin, including the features and user interface. This could involve creating wireframes, visual designs, and prototypes.
3. Development: The third step is to develop the software plugin. This could involve coding, testing, and debugging. 
4. Launch: The fourth step is to launch the software plugin. This could involve releasing the software plugin to the public, marketing the software plugin, and providing customer support. 
5. Maintenance: The fifth step is to maintain the software plugin. This could involve releasing updates, responding to customer feedback, and fixing bugs. 
6. Sunsetting: The sixth step is to sunset the software plugin. This could involve removing the software plugin from the market, providing support for existing users, and transitioning users to a new product.

Many assume that after step four, the game is essentially over, but that is when the distinction between short-term and long-term strategies truly comes into play. Do not let the sunsetting phase get to you, do a remake of your product on time. 

Recommended ➜ Read about the impact of digital transformation on business growth

How can a dedicated Product Owner make a difference?

As a Product Owner, you are responsible for leading a team of people to re-develop a successful WooCommerce plugin. It is vital to stay ahead of the competition and create a plugin that offers something unique.

Successfully managing a WooCommerce plugin requires taking the initiative to drive product development and ensure product success.

The first step is to define the product’s goals and objectives. This will help you create a roadmap for the product and ensure everyone is on the same page.

Creating a team of motivated and talented individuals who are passionate about the product is also essential. Additionally, it is crucial to create a plan for testing and validating the plugin to ensure it meets the customer’s needs. Finally, you must monitor the plugin’s performance and make necessary adjustments to ensure its success.

Product ownership is an exciting and rewarding role that offers limitless potential. With a motivated product owner and a well-coordinated team, success is within reach. 

Recommended ➜ Read about the 7 steps of digital transformation

Do not always start from square one when recycling

If we look at our plugin as a whole, it is an outstanding one. Why? Works great, is reliable, and most importantly, it serves its purpose. But then, on the other hand, something felt like it was missing. As they like to say, the devil is in the details.

Therefore the plan was not to recycle the product as a whole, but freshen it up with a new perspective.

A few steps of our newly-forged plan would include:

1.) Redesigning the brand identity, looking towards modern, custom-made visuals that would modernize the product itself.

2.) Expansion to new European markets on which GLS & DPD operate. Germany and Italy were the latest successes in the previous month.

3.) Establishing close relations with representatives of the two companies and forming meticulous customer support for the plugin.

4.) Conducting marketing campaigns and advertisements to boost further expansion to foreign markets and acquire a bigger market share.

5.) Switching to a subscription-based model rather than the one-time license due to forming a team that is going to nurture a product from now, therefore justify the change.

Note how not all of those have yet been accomplished, but rather are a guideline for further expansion in the upcoming year of 2023.

If you are interested in learn more about our product, check its official website.

There you can learn about the details, take a look at some product screenshots to understand it from the inside, as well as download it for test purposes with a 3-day test license available to everyone!

Will plugins be able to compete with custom web development in the future?

The answer is yes! The ever-growing number of digital products and services, along with the continuous improvements in technology, has made the world of web development more accessible than ever before. 

While custom development can offer a more profound experience, it is often accompanied by a higher cost and longer development time required. 

This has led to an increased demand for plugins and other ready-made solutions. WooCommerce, an open-source eCommerce platform, has become one of the most popular solutions for setting up and running web shops worldwide. The platform’s flexibility and wide range of features make it a go-to choice for many entrepreneurs. 

Furthermore, its vast array of plugins and extensions allows users to tailor the platform to their specific needs. Plugins and extensions are a great way to enhance the functionality of any website, and WooCommerce is no exception. 

Whether you’re looking to add new payment gateways, improve your store’s design, or analyze customer data, there’s already a plugin for that.

However, it’s important to remember that the quality and effectiveness of a plugin are mainly dependent on its ability to solve a specific problem.

Recommended ➜ Read about how a logistics company digitally transformed their business

In conclusion, WooCommerce’s popularity and wide range of available plugins make it an excellent choice for setting up online stores. Not only does it offer a wide range of features, but its flexibility and array of plugins allow users to tailor the platform to their specific needs.

Therefore, plugins can be an outstanding market opportunity, provided they can solve a specific problem.

Is there room for new WooCommerce plugins to be developed?

There are still several industries that are not currently well-covered regarding WooCommerce plugins. For example, the retail industry could benefit from a plugin that offers inventory tracking, order fulfillment, and customer relationship management features. 

Restaurants and hospitality businesses could benefit from a plugin that offers features such as online ordering, reservation management, and loyalty programs. 

The health and wellness industry could also benefit from a plugin that offers health tracking, fitness tracking, and nutrition tracking features. 

For any industry, it is vital to understand the customer’s needs and create a plugin that offers something unique. We could all easily agree that creating a user-friendly, cost-effective, and efficient plugin is essential. With the right product owner and a well-coordinated team, the possibilities are limitless.

Lumen Spei has the drive, talent, and ideas to deliver such projects. Reach out to us with your new project ideas, and we’ll help you get the project done on time and within budget.

The post Harnessing the Power of Product Ownership and Delivery Plugin Products first appeared on Lumen Spei.

By owning a certain NFT from our collection, the buyer can use it to gain 150% of its value in our development, design, and consulting services! We’ll go in detail on how and why we started this collection and how and where to buy it. Here’s the summary. 

Buy 1 NFT for $500 = Get professional services valued at $750

BUY OUR NFT ON THIS LINK

For now, here’s a quick introduction to NFTs. 

What is an NFT? 

NFTs, short for non-fungible tokens, can be defined as cryptographic assets on a blockchain with unique identification codes and metadata. This distinguishes them from other NFTs, being non-fungible as they are.

In short, they have the potential for several use cases. NFTs are often used to represent physical assets like real estate, meaning that by buying an NFT – you can buy real estate (if that certain NFT represents the real estate. And that is all done without intermediaries, so the transaction is hugely simplified.

Similar to our fiat money, cryptocurrencies are usually fungible. Here’s how this works. If you have one Bitcoin, it’s always equal in value to another. And if you have one US dollar, it’s also equal in value to another. 

NFTs, on the other hand, shift this paradigm by making every single token unique and irreplaceable. There are no two same NFTs. They can look the same, but they will have different metadata, identification codes, and maybe even a different value. 

It’s easy to imagine how NFTs could be used in the real world. Imagine having your ID card as an NFT. Or your passport and any other personal document you possess. 

Why did we create the Lumen Spei NFT collection? 

This NFT collection represents our strong commitment and dedication to Web 3.0. 

And what better way to prove that than with a Web 3-themed NFT collection? 

We wanted to give our potential clients and businesses a new way to communicate with us.

It was vital for us to acknowledge Web 3.0 through this collection and to respect the desires of those who wish to go in that direction. 

Whether the goal is to digitally transform an organization or develop an entirely new project on blockchain – we are here for it! 

And to show our clients that we respect their preferences, we allow them to buy our services by buying Lumen Spei NFT through crypto payment. 

It’s a modern and fun way to use our team’s expertise. 

Every Lumen Spei NFT you buy can be traded for our specialized services. And to encourage our readers, friends, and partners to buy it – it comes with a bonus!

Every NFT is on sale at the cost of 0.42 ETH, approximately $500. Buying one NFT for $500 enables you to trade it in for $750 worth of our services. In essence, whenever you want to hire our design and development experts, it will cost you 50% cheaper if you buy our NFTs and trade them in. 

How and when can you buy Lumen Spei NFTs?

In short – the sale starts on November 24. Our collection has only 100 NFTs available, so keep in mind that you’ll want to buy yours soon if you need any services from Lumen Spei! 

The collection is up for sale on OpenSea. Here’s the link to check out our collection and buy it! 

You’ll need a crypto wallet to buy any NFT on OpenSea! We encourage using MetaMask, as it’s one of the most secure crypto wallets today. 

To make the sale, you’ll need to connect your crypto wallet to OpenSea. First-time users may not know what exactly to do, but OpenSea took care of that.

They created a detailed step-by-step guide on buying NFTs, so you have all the needed information in one place.

BUY OUR NFT ON THIS LINK

How to use your Lumen Spei NFT? 

Once you have purchased an NFT from our collection, all you need to do is contact us, prove your ownership of the NFT, and trade it in with us after we confirm you own it. 

At that moment, you’ll have $750 in our specialized services. If you know your project will require much more than that, feel free to buy even more NFTs to accumulate the bonus! 

Our main goal here isn’t high profit but instead bringing awareness to the next-generation technology and one of many utilities it holds. 

If you need any help or have any questions, feel free to contact us and we’ll do our best to help you in any way we can.

The post Lumen Spei NFT Collection is Live first appeared on Lumen Spei.

One of the most important aspects that attracted huge masses of players was its revolutionary earning system. In short, it enables users to earn cryptocurrency by simply playing a Web 3.0 game. Still, there are numerous challenges Web 3.0 gaming needs to overcome to achieve mass adoption.

In today’s article, we’ll go through the entire Web 3.0 gaming industry, key features of Web 3.0 gaming, and the most important statistics. Let’s start!

What is Web 3.0 gaming?

Along with the evolution from Web 2.0 to Web 3.0, the gaming industry changed accordingly.

We can define Web 3.0 gaming as a process of decentralized gaming where the activities of a gaming platform are delegated away from any central authority, paving the way for complete decentralization. This strongly refers to ownership of in-game assets and decision-making in all Web 3.0 games.

In the image below, you can see exactly how Web 3.0 gaming functions: its mechanism.

Web 3.0 gaming gave power back to the users. By integrating blockchain into the gaming ecosystem, gamers can now participate in the game’s evolution decision-making process. Who knows better what gamers want than – gamers?

Besides, Web 3.0 gaming took large steps in the play-to-earn system, enabling users to trade their in-game assets, exchange tokens, and even earn cryptocurrency by simply playing the game.

Numerous gamers started crafting money-making strategies to replace their job income by playing games, which worked for many of them. This proved that Web 3.0 gaming is on its way to becoming larger than ever imagined.

All in-game assets are NFTs, which Web 3.0 gamers can trade on platforms like OpenSea and earn a reasonable amount of ETH for a simple in-game item. Every in-game asset is in full ownership of the player, meaning that there is no way for someone other than the owner to discard, trade, or delete it.

Another huge plus of Web 3.0 gaming is its wide interoperability across numerous gaming ecosystems. What does this mean? In short, when using a certain in-game item in one Web 3.0 game, you can use that same item in another Web 3.0 game – under the premise that both games are on the same blockchain.

Still, there are cases where you could use in-game assets stored on another blockchain. Polkadot and Solana offer the interoperability feature in cross-chain communication bridges.

In short, Web 3.0 gaming is something we can openly call an innovation.

Recommended ➜ Read about Web 3.0 and Digital Transformation

What are the key features of Web 3.0 gaming?

Web 3.0 gaming is distinctively different from gaming the world is used to. Self-sovereignty, decentralization, and total ownership were unimaginable concepts in gaming until recently.

Here are the key features of Web 3.0 gaming that revolutionize the entire industry.

#1 Ownership and interoperability

The Web 3.0 gaming landscape has been growing rapidly, with new blockchain-based games offering players true ownership of their in-game assets. However, some Web 3.0 games are siloed off from each other, meaning players can only use their digital assets within a single game platform.

Interoperability in Web 3.0 gaming allows for an entirely new level of connectivity and player freedom. By allowing Web 3.0 games to communicate with one another, players can trade and use their in-game assets across different gaming platforms. This offers more options and flexibility for players and opens up a range of new possibilities for Web 3.0 game developers.

As the Web 3.0 gaming industry continues to expand and evolve, interoperability will become increasingly important for unlocking the true potential of blockchain technology in gaming.

#2 Old game integration

The Web 3.0 gaming market rapidly expands, offering new game development and integration opportunities. We’re starting to see an interesting trend of incorporating old games into Web 3.0 environments. By leveraging blockchain technology, developers can revive nostalgic titles and incorporate them into Web 3.0 gaming experiences.

This allows players to enjoy their favorite classic games in a new setting and adds an extra layer of interactivity through the use of tokens and smart contracts. With the growing popularity of Web 3.0 gaming, we can expect to see more old game integration in the future.

It’s an exciting way for gamers and developers to participate in this burgeoning industry.

#3 Web 3.0 gaming is player-driven

The rise of Web 3.0 technology has brought about a new era in gaming: player-driven gaming. In Web 3.0 games, players have control over game assets and can trade them for real value. This allows for greater autonomy and ownership within the gaming experience, as players can make their own decisions and reap the benefits of their actions.

Also, Web 3.0 gamers can now experience even more benefits thanks to blockchain technology. Firstly, the play-to-earn aspect has become widely popular. And secondly, old game integration has enabled players to relive their childhood memories on the blockchain – possibly even in the metaverse.

Additionally, Web 3.0 games encourage collaboration and community building through player-to-player trades and interactions. As Web 3.0 technology continues to advance, we can expect to see even more player-driven gaming opportunities emerge.

With player empowerment at the forefront, Web 3.0 games offer a unique and exciting gaming experience.

#4 Web 3.0 gaming is transparent

In Web 3.0 gaming, transparency is vital for player trust. Being able to see the game’s code and how it operates allows players to verify that the game is fair and running as intended. It also helps to ensure that the game’s economy functions properly, with players able to trust that their in-game assets have real value.

Providing this level of transparency can also benefit game developers, as it helps attract skilled players and boost player retention. In short, Web 3.0 gaming benefits from a high level of transparency in gameplay and economies. This builds trust among players and can positively impact a game’s success.

What is a Gaming DAO and what are the types of Gaming DAOs

Using decentralized autonomous organizations, or DAOs, in Web 3.0 gaming opens up exciting opportunities for communities to govern themselves and actively shape the game worlds they inhabit.

A DAO is essentially a digital organization where decisions are made according to pre-programmed rules and governed by token holders. In Web 3.0 gaming, a DAO could be used to vote on game mechanics changes or choose which new features and content should be developed.

It also provides a transparent and fair means of distributing game profits among stakeholders. Web 3.0 gaming has already successfully implemented DAOs, with games like Axie Infinity implementing a player-governed treasury system.

As Web 3.0 technology continues to evolve, we can expect to see even more innovative uses of DAOs in the gaming realm.

In essence, there are 3 types of gaming DAOs. Learn more about them below.

#1 Gaming guilds

The rise of Web 3.0 technology has given rise to a new type of gaming organization: gaming guilds.

A gaming guild operates similarly to a DAO or decentralized autonomous organization. It is run by members through voting and decision-making on the blockchain. This allows for transparency and decentralization in the management of the gaming guild.

In addition, Web 3.0 technology allows for secure, tokenized payments within the gaming guild. So not only can gaming guild members participate in group activities and events, but they can also earn rewards through their contributions to the guild.

In short, gaming guilds are financialized – they function similarly to an investment club. All the participants, gamers in our case, share the funds that the gaming guild has accumulated so they can purchase in-game assets.

As Web 3.0 continues to advance and provide new opportunities for gamers, gaming guilds will likely become an integral part of the gaming community.

#2 Incubators and accelerators

Incubators and accelerators are a type of decentralized autonomous organization (DAO) in Web 3.0 gaming. These DAOs support new projects, typically through networking, funding, mentorship, and resources.

By joining forces with other Web 3.0 gamers, incubators and accelerators can greatly increase their capacity to launch successful gaming projects. Additionally, they often focus on community growth and will strive to nurture an inclusive and engaged gaming community.

Overall, incubators and accelerators serve as valuable resources for Web 3.0 gaming enthusiasts looking to make their mark on this rapidly evolving industry.

The first incubator and accelerator DAO in Web 3.0 gaming was launched by the team behind Axie Infinity. The Axie Infinity Community Treasury (AICT) is a well-organized, player-run organization that supports new Axie-related projects.

AICT has helped fund the development of numerous tools and resources for the Axie Infinity community, including a marketplace, wallet, and explorer. As the Web 3.0 gaming industry continues to grow, other incubator and accelerator DAOs will likely emerge to support this rapidly evolving ecosystem.

#3 Developers

Developer Gaming DAO, a type of gaming DAO, allows game developers to interact directly with players and receive funding through the use of smart contracts and community-governed tokens.

By removing intermediaries and providing transparent ownership, the developer gaming DAO offers a unique model for both developers and gamers. It allows for direct engagement with players, giving developers more control over their projects while giving players more involvement in the games they love.

The possibilities for this futuristic model are endless, from gameplay rewards to crowdfunding initiatives. The developer gaming DAO is just one example of how Web 3.0 technology can revolutionize the gaming industry.

The gaming industry is on the cusp of a major upheaval. The rise of decentralization and Web 3.0 technology is opening up new opportunities for gamers and developers alike. From gaming guilds to developer gaming DAOs, this new era of gaming promises to be more transparent, inclusive, and engaging than ever before.

Recommended ➜ Read about the role of digital transformation in business growth

What are the types of Web 3.0 games?

There are many ways to play in this new economy, whether a beginner or an expert. One major type of Web 3.0 game is called “play-to earn” where players invest money and time into gaining more assets, so they can keep playing without having any financial risk themselves, while other types involve walking around with your character on an adventure, trying not only survive but thrive as well!

So, there are 2 major types of Web 3.0 games. Let’s deepen your knowledge of both of them!

#1 Play-to-earn Web 3.0 games

Just from this subheading, you can recognize that the key concept of these games is to play and earn while doing so. Your rewards could be in the form of NFTs and cryptocurrencies, which you can usually trade for fiat money or exchange for some other cryptocurrency.

This type of Web 3.0 games functions simply – the more you play, the more assets you will obtain. Usually, you need to complete certain tasks and compete in various in-game challenges to earn these assets.

In some games, the amount of time you spend playing will also be taken into account when it comes to distributing rewards.

The central part of play-to-earn games is decentralized, meaning that there’s no total control from the side. And players who participate in this economy create value for themselves and developers alike by generating real cash prizes through their participation with every win they get while also helping shape what new features will be available on future versions!

#2 Walk-to-earn Web 3.0 games

The second major type of Web 3.0 game is walk-to-earn games. Their concept is straightforward – the more you walk, the more digital assets you acquire.

Such Web 3.0 games are profoundly different from other types of games, even traditional games, as they reward the player for a physical activity – which gamers may not be prone to.

The two companies that stand out from the crowd are Walken and STEPN.

The world’s first lifestyle application that rewards players for working out, STEPN is designed to reward those who put their health on track, and in return, they will receive GST tokens. These can be used to purchase items from within the app or traded off various exchange services like Binance Coin (BABY).

Walken is a Web 3.0-based walking application that ties three essential things: sports activity, online gaming, and crypto. To simplify, it’s about rewarding users for their physical exertions with WLKN (an in-app token), which can be sold on exchange services later, compared to STEPN, which only gave out prizes during competitions against other players but not as part of gameplay where you need level up your character by participating!

Recommended ➜ Read about data silos and their negative impact on your business

Most important Web 3.0 gaming statistics

The gaming company, Coda Labs, conducted research in 2022, intending to research the Web 3.0 gaming market. They used WALR, a leading data creation platform, as a centerpiece to their research methodology.

To qualify for the survey, respondents needed to meet one of their two selection criteria:

They play a video game at least twice per month
They completed at least one specific crypto action in the last 30 days

The results are:

• 52% of gamers don’t know any Web 3.0 gaming terms
• 28% of gamers have heard about play-to-earn games
• 16% of gamers qualify themselves as crypto gamers
• 12% of gamers have tried playing Web 3.0 games
• 41% of gamers aren’t sure how Web 3.0 games work
• 41% of gamers are concerned about scams in Web 3.0 gaming
• 32% of gamers are worried about the financial costs of playing Web 3.0 games
• 37% of gamers who are playing Web 3.0 games do so only because they can earn money
• 45% of non-crypto gamers and 60% of crypto gamers play only because they can earn money

This shows us that Web 3.0 gaming is still in its infancy, and much more must be done before Web 3.0 games get adopted by the global masses adopt it. Even so, the financial benefit of playing Web 3.0 games is starting to get recognized, which is most likely one of the greatest benefits of Web 3.0 gaming.

Recommended ➜ Read about the most important challenges of digital transformation

Create your Web 3.0 game with Lumen Spei

You already have an idea for a Web 3.0 game in mind that would conquer the gaming world? We fully support your ambitions, and we offer you a helping hand. Our Web 3.0 experts have experience in building next-gen experiences for various audiences, and we would like to help you on your journey toward success in Web 3.0.

Whatever kind of idea you have – you can count on the Lumen Spei team to help you materialize your thoughts and turn them into a beautifully-designed Web 3.0 game!

Reach out to us and let’s build a great game together!

The post Web 3.0 Gaming: Complete Guide for Beginners first appeared on Lumen Spei.