Web3 is the next step in the evolution of the internet, and it aims to enable users to interact with online applications and services in a secure, decentralized, immersive fashion.
Web3 applications, commonly called decentralized applications (dApps), are built using blockchain technology. They enable users to securely store, share, and manage their data without engaging with centralized internet-based companies. In addition, dApp users can safely transact and trade digital assets with one another using embedded cryptocurrency wallets.
A super app is a mobile application that offers a variety of functionalities alongside its leading service. They integrate multiple apps and services, enabling users to carry out day-to-day activities such as texting, ordering food, hailing rides, paying bills, and shopping within a single application.
Web3 Super Apps are the next generation of dApps that enhance users' in-app experience by providing a variety of functionalities and services within a single platform. This post will explore the features, critical use cases, and benefits of Web3 Super Apps. We will also discuss how these revolutionary applications could change how we interact on the internet forever.
What is a Web3 Super App?
The Web3 ecosystem consistently develops scalable decentralized alternatives to traditional Web2 applications and services. Similarly, super apps built on blockchain networks offer valuable features, robust security protocols, and numerous user-focused rewards.
This section will explore these features and introduce popular Web3 Super App platforms, describing their functionalities, benefits, and market fit.
Defining Web3 Super Apps and Features
A Web3 Super App is a decentralized mobile application where users perform various financial transactions to unlock real-world value. Web3 Super Apps integrate multiple services typically offered by third-party applications, such as messaging, social networking, payments, and gaming, into one platform.
These apps leverage blockchain protocols to ensure transparent transactions and offer decentralized identity, interoperability, and data privacy features. They also contribute to a more seamless and user-friendly decentralized ecosystem, where users can access multiple services without navigating between different platforms or applications.
3 Popular Web3 Super Apps
Web3 Super Apps are revolutionizing digital interaction for social and commercial purposes. Some Web3 Super Apps have become popular due to unique features that place them ahead of their rivals. We will explore these apps, their features, and why they have attained such popularity.
Upland
Upland is a popular Web3 Super App offering users an immersive gaming experience styled after the classic Monopoly game.
Upland is a blockchain-based virtual world where users can buy, sell, and trade virtual properties mapped to real-world locations. The Upland platform is built on the EOS blockchain and represents in-game real estate using non-fungible tokens (NFTs).
Users in Upland's virtual world purchase properties with UPX, the platform's native cryptocurrency. In addition to trading assets and exploring this exciting metaverse, Upland players can build custom properties and vehicles and monetize them by charging other players for access.
Afterward, they can reinvest the profit to further develop their virtual properties or sell their UPX coins for stablecoins and convert them to real money. Players can also earn impressive rewards for participating organically in gaming activities, such as completing missions and leveling up.
Furthermore, users can perform business activities on their virtual land. Gamers can provide digital goods and services and get paid for their products with Upland (UPX) tokens. This new wave of "Metaventures" - player-owned businesses - has attracted millions of new users who wish to earn income by partaking in Upland's sprawling commercial hub.
Unlike other gaming metaverses, Upland features accurate representations of real-world locations like San Francisco, New York, and London, making its properties relatable and more desirable. So far, Upland's Web3 Super App has accrued 290,000 unique land owners, which is five times larger than rival metaverses like The Sandbox, Decentraland, and The Otherside combined.
Upland has seen significant user growth and adoption since its launch in 2019, onboarding more than three million new users and selling more than five million NFT properties. Moreover, the Upland metaverse has expanded to include more than twenty cities in the United States, with more cities on the way, such as Rio de Janeiro, Porto, and Buenos Aires.
Experts consider Upland a leading Web3 Super App because it offers a unique and innovative user experience, combining concepts from gaming strategy, real estate, and blockchain technology. Incidentally, the Upland Web3 Super App is one of the few cross-platform dApps that users can access on Android, iOS, and web-based devices.
Upland has demonstrated the potential for Web3 Super Apps to create and satisfy new and exciting use cases in the blockchain space. Due to its unique economy and self-propagating user base, Upland has become the go-to Web3 Super App for participants looking to invest in and trade virtual real estate.
EMG
The EMG Web3 Super App provides decentralized alternatives for instant messaging, online shopping, mobile money transfer, and customer relationship management (CRM). EMG Coin (EMG) is the native crypto token that powers this Web3 Super App by facilitating in-app transactions.
EMG's user-friendly interface supports voice and video calls, internet chat, and media transfer. In addition, users can safely send and receive money with their mobile devices using EMG Pay, a mobile transfer feature that integrates popular payment gateways for quickly processing transactions.
EMG also hosts a blockchain-based gaming platform, powering transactions on games that use the EMG token as in-app currency. The gaming platform allows users to purchase and trade unique digital assets and win real-world rewards from participating in tournaments and competitions.
Furthermore, EMG provides a secure platform where users can create, store, and trade their digital assets, such as cryptocurrencies and NFT tokens representing art, music, real estate, and valuable collectibles.
The EMG platform also incorporates an advanced e-commerce marketplace where users can buy and sell products and services using the EMG Coin. Users organize their customer data and manage transaction history using the platform's next-generation CRM tool.
The EMG Web3 Super App intends to be an all-in-one mobile application that provides solutions to lifestyle needs, such as bill payment, e-commerce, gaming, NFT trading, and social media.
EMG is considered a leading Web3 Super App due to its easy-to-use interface, low transaction fees, and loyalty program that compensates users for spending valuable time and resources interacting within the dApp.
Jambo
Jambo is a popular Web3 Super App that has gained significant attention from users and investors in the DeFi market. Jambo is built on the Polygon Network, a Layer-2 scaling solution for the Ethereum blockchain, and utilizes smart contracts to facilitate secure transactions using cryptocurrencies.
At its core, Jambo utilizes a DeFi wallet to promote crypto education and financial empowerment among its users. Thus, Jambo offers peer-to-peer lending services, enabling users to access cryptocurrency loans without needing third-party intermediaries.
In addition to its lending and borrowing services, the Jambo Web3 Super App features staking pools that reward users who provide liquidity on the platform with JAM, its native cryptocurrency token.
Jambo aims to introduce young Africans to the global Web3 financial ecosystem using blockchain-based gaming dApps and targeted DeFi services and solutions, including cryptocurrency exchanges, off-ramps, and remittances.
Thus, the predominantly young African population will gain access to the limitless financial opportunities of the Web3 space, leading to massive economic growth.
Jambo registered over 30,000 new users and processed more than $20 million in loans within its first six months of operation. This rapid, significant user growth is due to its extreme usability, low fees, and high levels of transparency and security.
Jambo is among the leading Web3 Super Apps because it focuses on providing DeFi services to underserved markets. By leveraging blockchain technology, Jambo can provide financial services to the unbanked and underbanked, enabling them to access loans and other vital financial services previously out of their reach.
As the ecosystem continues to evolve, we expect new features and use cases to emerge for Jambo and other Web3 Super Apps in the DeFi space.
Advantages of Using Web3 Super Apps
Web3 Super Apps offer users several advantages, including:
Increased Ease-of-Use
Web3 Super Apps operate on a single platform with a user-friendly interface for accessing multiple dApps.
Reduced Cost of Transactions
Web3 Super Apps enable users to store, exchange, and trade digital assets using direct peer-to-peer transactions without third-party intermediaries.
Enhanced Security Protocols
Web3 Super Apps are built on blockchain networks, affording them greater security, privacy, and protection from censorship and manipulation.
Extensive Customization
Web3 Super Apps leverage advanced technologies, such as AI and machine learning to create personalized experiences for every user.
Limitless Room for Innovation
Web3 Super Apps produce new use cases and business models that cannot be achieved with traditional centralized platforms, encouraging the development of new applications and services.
Key Features of Web3 Super Apps
Web3 Super Apps have advanced features that give them a competitive edge over Web2 applications. This section will outline these features and describe how they work.
Decentralized Identity
Web3 Super Apps utilize sophisticated blockchain protocols to grant users ownership and control of their data.
Using distributed ledger technology, app clients can create and maintain their digital identities without relying on third-party providers or centralized authorities. Moreover, users can manage access to their data and share specific details across blockchain-based applications.
Interoperability
When different distributed ledger systems can communicate and seamlessly share critical data and features, the platforms connected to the network become interoperable.
Web3 Super Apps interoperate with other service applications and platforms, ensuring constant access to a broader range of functionalities. Furthermore, Web3 Super Apps enable users to securely transfer data and assets across different blockchain networks with increased speed and minimal latency.
Smart Contract Execution
Smart contracts are software programs that automatically perform specialized functions after users have satisfied pre-existing conditions. Web3 Super Apps execute smart contracts on the blockchain, allowing users to execute transactions without the risk of theft, fraud, asset loss, or third-party interference.
Due to their programmable functionality, blockchain developers also use smart contracts to create new use cases and business models for new Web3 Super Apps.
In-App Cryptocurrency Transactions
Web3 Super Apps incorporate cryptocurrency transactions within their dApps, enabling users to perform secure, private transactions without needing traditional financial institutions.
Moreover, in-app cryptocurrency transactions provide users with greater security and transparency and decrease mandatory transaction fees.
User Privacy and Security
Web3 Super Apps prioritize user privacy and security using decentralized protocols to protect user data. Decentralized storage and encryption prevent data breaches, protect user privacy, and provide greater transaction security and transparency.
Use Cases for Web3 Super Apps
Web3 Super Apps satisfy emerging use cases in the crypto world and can be adopted by various industries to onboard millions of new users and generate massive revenue.
By embracing these apps, users can enjoy the freedom of a safe, open environment to conduct their social and commercial activities. Let's see how these super apps can be applied in the real world.
Decentralized Finance (DeFi)
Decentralized Finance (DeFi) presents open, permissionless alternatives to traditional banking services. DeFi systems enable users to lend and borrow digital assets and build crypto-powered products.
DeFi applications offer users greater transparency, security, and accessibility than traditional financial systems. Therefore, with Web3 Super Apps, users can participate in various DeFi markets and trade digital assets across different networks while retaining ownership of their assets and profits.
Non-Fungible Tokens (NFTs)
Non-Fungible Tokens (NFTs) are unique representations of digital and physical assets such as art, music, collectibles, and real estate.
Web3 Super Apps provide secure platforms for creating, storing, and trading NFTs. Users can use Web3 Super Apps to store and exchange value with their tokenized assets on secure, low-cost decentralized networks.
Furthermore, NFT owners can upload their assets to interoperable metaverses and interact with other users within simulated virtual environments. Also, they can use their tokens as collateral for loans or as tickets within dApps in the Web3 Super App.
Gaming and Gambling
Gaming and gambling activities can be performed seamlessly on blockchain networks, allowing users to compete in secure, low-risk, trustless environments.
Web3 Super Apps provide participants with greater transparency and fairness during online gaming and gambling, reducing the need for judges or mediators.
Moreso, Web3 Super Apps present new possibilities for gaming and gambling enthusiasts who can accumulate and trade valuable in-game assets they earn from engaging with the platforms.
Supply Chain Management
Supply Chain Management is an important, high-profile business sector disrupted by blockchain technology.
Web3 Super Apps can make supply chain management systems more efficient by increasing the transparency of tracking systems. By leveraging decentralized protocols, Web3 Super Apps streamline the supply chain flow, increase the security of transported goods and services, and reduce constraints at each step of the delivery process.
Thus, users can track the origin and destination of goods and the status of shipments in real-time, saving them costs and time.
Social Media and Content Creation
Web3 Super Apps promote new possibilities for social media platforms and content creators by granting users control over their data and content.
Web3 Super Apps use decentralized social protocols to reinforce security and privacy measures for users while enabling new business models for registered content creators.
In addition, users on the social media platforms integrated within Web3 Super Apps can take control of their data and earn revenue from monetizing their content without splitting profits with third-party services.
Voting and Governance
Web3 Super Apps could transform traditional voting and governance by propagating transparent, secure voting systems that enable users to participate in platform governance. Users can leverage their digital identity and reputation, shared across the integrated dApps, as proof of identification and remotely vote from their mobile devices.
Thus, community members are involved in the decision-making processes of their respective communities, leading to higher user retention.
Conclusion
We have broken down concepts associated with Web3 Super Apps and introduced key players in the dApp ecosystem. Now, let us look at the future prospects of Web3 Super Apps in the grand scheme.
Recap of Web3 Super Apps and their Importance
Web3 Super Apps are applications that offer users multiple services on the same decentralized platform. Using Web3 Super Apps, clients perform financial transactions with cryptocurrency tokens to access virtual or physical goods and services.
Contrary to Web2 centralized applications, users can preserve their digital identity on a single platform and sign in to many dApps using that same login. This new technology represents an important milestone in the next phase of the internet, where users do not need to subscribe to multiple applications to access different services.
Thus, users can buy digital assets as NFT tokens, access educational materials, maintain social interactions, and receive passive income from participating in gaming tournaments, all under the same profile.
Web3 Super Apps provide unprecedented control over personal data and information, allowing users to store and share data securely and efficiently. Similarly, users retain control of their digital assets and choose where to store or transfer them.
Web3 Super Apps are the next step at the frontier of the crypto movement that will increase interoperability among different blockchain networks. Moreso, they introduce robust systems that protect the customers and reward the consumers by default.
Hence, these apps are becoming increasingly popular among blockchain developers, enabling them to take full advantage of decentralized networks. In addition, Web3 Super Apps add new features and customization options to enhance users' experiences.
