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A quick look at 4 Web3 products that have received large investment: the pursuit of real scenarios
蜂巢财经News
特邀专栏作者
2022-10-24 07:49
This article is about 4534 words, reading the full article takes about 7 minutes
The real explosion of Web3 requires the emergence of a phenomenon-level product with a smooth enough experience.

Original Author: Tang Yuan

Entering October, Web3 application products have repeatedly received a large amount of support from encrypted capital. On October 12, Paradigm took the lead and jointly invested with Coinbase and Sequoia in the Web3 search engine Nxyz, with an investment of 40 million US dollars; on October 11, a16z led the investment in Rye, a Web3 e-commerce construction platform, and Golden, a Web3 knowledge graph protocol, respectively. The former received US$14 million in financing, and the latter received US$40 million; on October 6, Multicoin Capital led the US$11 million seed round financing of Blackbird, a Web3 catering platform.

These Web3 applications that have received tens of millions of dollars in financing have a common feature: they are built based on real scenarios and user needs. Retrieval, e-commerce, these scenes with mature markets in the Web2 market began to appear in the Web3 field.

You must know that in the past, because the underlying blockchain network of Web3 could not achieve the high concurrency supported by centralized servers, even if breakthroughs in scenarios such as GameFi, decentralized financial markets, and NFT applications were achieved in 2021, they are still in the process. Efficiency issues have been criticized. However, the emergence of these scenarios has also forced blockchain developers to develop high-throughput network architectures. With the deepening of exploration, applications are also advancing towards non-pure financial scenarios. This is the possibility of Web3 search engines, e-commerce and even catering platforms.

It should be noted that both the bottom layer and the application layer of Web3 are still in the incubation period, and are still in the stage of joint incubation and experimentation by capital and developers, and their maturity remains to be seen. In addition, due to the underlying differences, these Web3 applications that are close to real needs and scenarios are completely different from our existing Web2 applications in terms of usage. The real explosion needs to be changed by the market education, and even requires a silky experience. The phenomenal products appear. This issue of Web3 Honeycomb will take you to understand 4 products that have been heavily invested by capital.

Introduction

Introduction

Nxyz was originally named "Neeva.xyz". The initial positioning was to build a no-delay search engine based on Web3, which can update blockchain-related data in real time. With the enrichment of blockchain applications, Nxyz not only supports users to search and query various assets , encrypted wallets, and applications, it has gradually become a multi-chain API retrieval tool that can access data information of multiple blockchain networks in real time. In addition to facilitating research institutions to observe blockchain development, it can also assist developers through API The suite measures the real on-chain data and considers the opportunities for application products to land.

This product form is a bit like the website navigation page in the early days of the Internet, and it is also a bit like the web version of the App Store, which is convenient for people to find a certain Web3 application in natural language. As a search engine, the difference between Nxyz and Web2 products is that it can directly access the address on the chain, which means that you can see the data on the chain of a certain application or a certain application user through it, which gives the application data falsification settings obstacles. Of course, this ability is a feature of the bottom layer of the blockchain. The value of Nxyz is that it can visualize, understand, and use complex data on the chain.

image description

Nxyz Search

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The product concept of Nxyz comes from Neeve, the world's first private and ad-free search engine. In 2021, when Neeva was released, the main focus was that users would be freed from search engine advertisements and data tracking troubles, and wanted to solve the common problems of Internet search engine products after the commercialization of big data. The bottom layer of the blockchain using encryption technology naturally has some privacy advantages, and Nxyz is brewing, but there is still a lack of one condition-the data is rich and diverse.

After the emergence of blockchain technology, although the encrypted address cannot be traced to the real name of the individual, the information on the address (such as the type and quantity of encrypted assets) is open and transparent on the chain. The emergence of the blockchain browser makes the "open and transparent" Properties are associated with users. In the early days, people used browsers to query encrypted wallet addresses to check the direction of encrypted asset transactions.

As smart contracts can form application products on the blockchain chain, the interaction data between users and applications has become an important function that blockchain browsers must have, and the blockchain market where multiple chains coexist also tests browser products. Businesses need to integrate data from various blockchains.

Currently, there are more than 10 mainstream blockchain networks in the market. Massive data is not only more and more difficult for users to understand, but also makes users need to go to multiple different browsers when looking for information on the chain. The fragmented blockchain data status makes the Neeve team finally wait for the market opportunity, Web3 The search engine Nxyz was born. Not only can C-end users query addresses, but also use data for B-end development teams. It provides blockchain index and data infrastructure for builders and developers of Web3 applications (such as encrypted wallet providers or NFT applications) to ingest real-time data directly from the blockchain and its related applications.

The high-performance multi-chain index infrastructure API data suite is the main function of Nxyz. This API suite provides access to common data types of smart contract addresses and integrates on-chain and off-chain data to help developers easily use blockchain data . If developers have more complex needs, they can also customize the index mode to help Web3 developers avoid the trouble of building data infrastructure at the front end, so that they can spend more time building product functions that are useful to users.

Introduction

Introduction

Blackbird is a Web3 management platform specially built for the catering industry, aiming to help the catering industry improve customer loyalty and member services through Web3 components.

Ben Leventhal, a well-known entrepreneur in the catering industry, launched the Blackbird platform. He has successfully founded two catering companies - Eater, a website that introduces restaurant menus and dining information (acquired by news review site Vox in 2013), to help dine-in users book Resy, a platform for restaurant tables (acquired by Amex in 2019).

After the emergence of the blockchain, Ben Leventhal wants to try to use Web3 technology and concepts to improve the business model of the catering industry, so as to form a new economic relationship between restaurants and customers.

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In the Internet age, a "third party" has emerged between restaurants and customers - catering service aggregation platforms. Dianping and Ele.me, which are familiar to Chinese users, are this third party. They have become a bridge between restaurants and diners. The public chooses the one they want to go to the most and the one with the highest evaluation among the many restaurants, and the online celebrity shop is born. Not only is it convenient for diners, but the existence of the food delivery platform even makes opening a restaurant an "easy business."

The convenience is there, but is the catering business really easy to do? Is word of mouth real? Is the brand power of brand stores really sticky? After emergencies such as the new crown epidemic emerged, these questions began to be answered. Ben Leventhal believes that the close connection between restaurants and diners is not only determined by food, but also related to services. The two need to form a more direct connection between restaurants and customers. Even if there is a third-party platform, the connection cannot be easily established. Cut off, because the close relationship between the two directly determines the life and death of a restaurant.

Ben Leventhal hopes to use the thinking of Web3 to let Blackbird explore the three aspects of payment method, customer loyalty and membership service, so as to strengthen the relationship between the catering industry and users.

  • payment method——Restaurants increase encrypted asset payment methods, not only Token, but also personalized NFT.

  • customer loyalty——Change the past mode of point exchange for goods or cash, and convert points into NFT. Restaurants can issue NFT rewards according to customer dining frequency, consumption amount, etc. These NFT can be used as a pass for customers to obtain a unique restaurant experience.

  • membership——Change the model of obtaining membership by purchasing membership cards or recharging funds, and use NFT to grant membership. NFT membership can not only be issued through the task rewards of "mini-games", but also increase the rights and interests of qualifications and open up liquidity . For example, holding member NFT can enjoy discounted prices or participate in activities. When the number of consumption and the amount increase, NFT can be upgraded to enjoy corresponding advanced services. Membership can also become a circulating market due to the existence of NFT. When member A does not need it, the qualification can be transferred to others. Members can even form a DAO organization because of NFT and form a deep community relationship with restaurants.

Blackbird is not alone in its thinking. In September this year, the coffee brand Starbucks announced the launch of the blockchain-based Web3 community "Starbucks Odyssey" (Starbucks Odyssey), combining Starbucks Rewards and NFT to issue member NFT. Employees and customers can earn NFTs by completing game tasks or by purchasing them directly. Starbucks NFT members can upgrade with the number of times they buy coffee and the amount of consumption, and they can also sell it in the secondary market. They can also unlock experience activities such as virtual coffee making and factory visits. It is speculated that Starbucks will build a metaverse virtual space around the brand.

The Starbucks Odyssey community is aimed at its own brand, while Blackbird hopes to build a Web3 management platform dedicated to the catering industry, enabling restaurants to attract customers and reward employees through Web3 concepts.

It should be noted that the Blackbird product has not been officially released and is still under construction. It is reported that the specific form may not appear until 2023.

Introduction

Introduction

Rye is a Web3 e-commerce building platform based on the Solana blockchain. It provides merchants (sellers) with API template tools for building stores, and helps sellers build Web3 stores and even e-commerce websites with one click.

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Rye platform

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Rye thinks about the e-commerce industry from the perspective of merchants. Because the e-commerce platform is friendly to consumers, but it is very demanding on merchants. Taking Amazon as an example, third-party merchants on the platform not only need to pay a certain monthly service fee, but also need to pay additional sales commissions based on product categories. In addition, Amazon only supports sellers to advertise on the site, and does not support sellers to attract traffic outside the site, making the cost of small and medium sellers higher and higher.

Rye wants to eliminate monopolistic middlemen, connect merchants and customers directly, and improve e-commerce efficiency. By establishing an open and free e-commerce construction platform, it helps merchants build branded e-commerce websites, and replaces everything from payment to commissions with encrypted assets, such as helping merchants create encrypted wallets to support encrypted asset payments, and developing airdrop reward products to replace traditional e-commerce. Tools for merchant rebates, etc.

It should be noted that although the Web3 industry has begun to explore the field of e-commerce, so far, Rye's products have not yet been officially launched.

Introduction

Introduction

Golden is a decentralized knowledge database, which can be simply understood as "the Web3 version of Wikipedia (Wikipedia) or Qichacha company database". It was originally a data company in the Web2 field, using data to draw knowledge maps. In 2021, Golden will extend its knowledge radar to Web3, hoping to build an open source knowledge graph protocol.

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Elon Musk (Elon Musk) knowledge map case released by Golden

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In the construction and update of entries in traditional knowledge graphs, the platform often relies on the platform to collect data information in various ways. The frequency of updates and the accuracy of creation depend on the operating capabilities of the platform. Golden hopes to build open source and use incentives to stimulate the power of the public. Users can submit information to the knowledge base, which will then be verified by verifiers. After the verified data is adopted by the knowledge base, they will be rewarded with tokens. Ultimately, this data repository will be put into use for free or for a fee, and the benefits will be shared with submitters and verifiers.

This sounds similar to the current business model of paying for knowledge on the Internet. Currently, users can connect their wallets to the Golden website and become submitters or verifiers of knowledge graphs. Submitters submit the relevant information and data that make up the map as required. If they are verified and available, they will have the opportunity to receive rewards when Golden releases the native Token; verifiers need to verify the authenticity and correctness of the data submitted to obtain rewards.

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