How Small Businesses Can Thrive with the Rise of Web3 Technologies


We are at a pivotal moment of technological change. The internet has come a long way since its inception, with new technologies and trends constantly emerging. Throughout human history, technological shifts have shaped communication—both verbal and visual. In the past 30 years, the internet has grown in scope, speed, and strength, with each passing year becoming increasingly visual and immersive. However, the pervasive presence of the internet has also given rise to several challenges that impact well-being. People are now looking to regain more balance, with a renewed focus on personal well-being, with technology being key to getting there.  

According to iStock’s VisualGPS research, people in Singapore and the rest of Southeast Asia are placing a greater emphasis on prioritising their wellness, with 64% (versus 54% globally) expressing that a successful life is one in which my physical, mental and emotional needs are being met. Furthermore, 85% of people are excited about the impact technology will have on their wellness.  

According to a report by McKinsey, people intend to spend more on products and services that improve their health and well-being. This trend leads to the emergence of technology-driven wellness trends and businesses like Migraine Buddy, a blockchain-powered health app for individuals suffering from migraines or HealthBloc, which allows users to manage their health conditions. By visualising how cutting-edge technologies are tapping into the booming wellness market, small and medium-sized businesses can reflect an understanding of how technology can be used to support and guide individuals towards holistic health, building stronger connections with their audience.  

Exploring digital worlds  

Apps and online marketplaces are not the only way Web3 could impact people’s well-being. iStock’s VisualGPS findings revealed work-life balance is now a top priority for Singaporeans, and with the rise of alternate realities or AI-powered tools, people across Southeast Asia realise the potential emerging technologies can have in the workplace and at home. 60% of people worldwide are excited to see what the future looks like as technology evolves, with even higher enthusiasm among seven in ten people in Singapore.  

We have also learned that the key reason why artificial intelligence and virtual worlds are appealing to people is due to their perceived access to more immersive experiences and opportunities, including new ways to make money. While the promise of the metaverse or AI seems to be far from its full potential still, it is important for SMBs to understand that factors attracting consumers can be fulfilled today by visualising how they are providing increased access and freedom through highly personalised and curated experiences. 

Enabling a better future — The role of SMBs 

Eighty-five per cent of people in Singapore and Southeast Asia say they have recently used technology to solve problems or achieve goals that used to be a struggle. With Web3 becoming a reality, here are three key takeaways to help emphasise the importance of reassuring, empathising, and showing concern for the well-being of customers amidst the rise of new technologies: 

  • Showcase technology as a guide and support for wellness – Images and videos should focus on how technology guides and supports individuals to achieve better physical and mental health. Choose visuals that highlight how technology enables personalised and improved health and wellness rather than individuals being solely in control of it.  
  • Depict technology as an integrated part of daily life – Visuals should demonstrate how technology is seamlessly integrated into various aspects of individuals’ lives, including work, family, hobbies, and daily routines. Show how technology impacts multiple aspects of life and how it is immediate, personalised, and an integral part of individuals’ wellness journey.  
  • Highlight new wellness practices enabled by technology– Images and videos should showcase new and innovative wellness practices made possible by technology. Illustrate how technology is enabling individuals to adopt different approaches to wellness and how it is shaping the future possibilities of wellness.  

In conclusion, as emerging technologies continue to gain momentum, it is crucial for businesses to proactively integrate them into their visual content to stay ahead of the curve. By embracing the potential of Web3 and adapting to the evolving digital landscape, small businesses can thrive and forge meaningful connections with their audience, ultimately leading to success in the ever-changing business landscape.