**2. Research methodology**

This chapter explores the concept of Web3, which is relatively a new domain and still evolving in its nature and adoption across digital businesses. Since the nature of the study is perspective on an emerging area, a mix of exploratory research methodologies are used to reveal major structural constructs, which require proper definition and clarification for business and academic readers to understand the concept of Web3. Exploratory research is generally qualitative in nature and explores topics which are not generally researched in-depth. The topic of Web3 also falls under such category of topics due to its inherent nature and recent advancements. Since there are no preexisting knowledge and limited academic research, this study resorts to review of available academic research materials, published online articles, analysis of ongoing projects and eCommerce businesses, and knowledge of the author by participating in actual Web3 projects. Interview with an expert is used to validate the findings (provided in Section 8) and explore areas that require further research.
