User Experience is Key to Global web3 Adoption
It is not news that innovation is on the high rise in the web3 space. It began with bitcoin and its essential blockchain technology. Shortly after, Ethereum was introduced with its inherent network offering solutions for decentralisation and tokenisation of projects.
The great innovations that arose from the Ethereum network are immeasurable. Name them; Non-Fungible Tokens also known as NFTs sought to give users a new form of digital identity. There is decentralised finance also called DeFi. Through tokenisation, DeFi is offering various solutions to the problems of traditional finance. The recent fanfare is pumped on the Metaverse. According to experts, Metaverse has come to give a new reality to living in a virtual form.
These innovations are not just web3 jargon. Several startups and companies helping users and enthusiasts put these innovations into practical use are emerging. Tech giant Facebook transitioning to Meta is also a pointer that giant Web2 companies are also leading the trail. The success of these startups and companies is a confirmation that web3 is truly a web2 iteration. Despite this ‘looking good’ future, there is a missing piece that could be catastrophic to the fulfilment of the decentralised internet promises.
The user experience of web3
Anyone can open a bank account but can anyone open a blockchain wallet? It takes little or no intelligence to open a Facebook account but can an averagely educated person create or operate a cryptocurrency wallet without help? The possibility is quite low. This account for the 2022 reports that confirms that only 1% of the market size has been tapped.
If an average person does not understand what you are selling, no one will buy, and consequently, you are gatekeeping. Exxample, Inc is a web3 startup that is focused on driving adoption through the provision of a complete suite of web3 products and projects that are user-friendly.
During preliminary research for the startup, one of the foremost problems of adoption the EXX team found out is that getting into web3 for a layman requires extra educational efforts. The bare terminologies are too technical. Communicating its dynamics, model, and differences poses a great challenge in the industry and as such solutions deployed are developer-driven and not user-friendly. Whereas the first point of communication of a user with any application is the UI/UX. Hence, user experience is key to global adoption.
The reasons are not far-fetched:
A competitive Edge in Web2
The currently dominating internet is an outstanding success. Its success has forced a competitive edge which is compelling brands to invest in applying UI/UX experiences that provides a seamless interface for users to stay glued. A perfect example of such success is the E-commerce industry. Brands and companies are massively investing in tools and talents to help deliver a competitive user experience that will retain users over their counterparts.
It is a generation of internet babies
While baby boomers and those before are struggling to catch up using Facebook and other seemingly easier-to-use platforms, Millennials and Gen Zs are the ones dominating the internet. They are the woke ones who are used to the ‘cool’ way of things. They demand a ‘cool’ UI/UX experience on the internet. On the contrary, most of the currently deployed DApps which are developer-driven have ambiguous UI/UX and contents that are seemingly boring and not enticing.
Users are from different dimensions
Web3 is a relatively new technology to a larger population of the world. It is still in the stage of enticing more users and adopters. Companies and startups are failing to realise that these users are coming from different dimensions with various motives. While there are gamers who are just looking for a new gaming experience, there are also investors who are looking for further investment opportunities to bank on. Organisations are looking for cloud services and other means to onboard web3 to their operations. We also have some social media users who are anxious for content-to-consumer opportunities and several other dimensions of people expected to troop into the web3 space. Exxample, Inc onboards different solutions that cater to these needs accordingly.
Adoption relies heavily on UI/UX to shape how web3 is seen and accepted. Exxample, Inc looks to provide users with more than a working product. We onboard various products, services, and a network that:
- Interact with users in the language they understand
It is time we drop the technical jargon and use them less often. Products within our ecosystem use designs, patterns, and colours to relay messages and instructions using the end user viewpoint. - Designed to achieve trust
Companies and startups need to focus on delivering solutions that are bullish and promise safety. Products deployed on Exx are transparent scalable products that retain users without fear of trust. Every agreement and instruction are visibly clarified. - Has in-solution teaching and guidance
At every opportunity, users should rely on your solution in-app guidance. Exx Products are displayed to Interact with the users through simple but beautiful structures, patterns etc. Users need to know what is happening, what is going to happen next, and what to expect in the usage of the solution. - Are Useful and Usable anytime
User Experience is Usability. Exxample, Inc is using the provision of usable web3 products to scale adoption. It is an ecosystem of unique DeFi products. These are financial products that people use daily.
To sum it all up, solving the user experience problem relies on companies UI/UX developers simplifying their DApps like ABC. When we don’t solve the user Experience problem; no one gets interested in the industry thereby making adoption slow. Billions will be left untapped, and the decentralised promises will fail with just a few companies in charge.
With a market size projected to reach $81.5 billion in 2030 and possibly 50 to 100 million users by 2025, the adoption curve is dragging and it is time web3 companies started investing in the user experience just as we have with web2 giants.
