Unraveling The Features And Cost Estimation Of Web3 App Development

By Suffescom Solutions

September 30, 2022

The onset of technology has created ripples in almost every industry. With constant updations, the internet has outrightly transformed every business vertical. After experiencing advanced internet revolutions from the static web to the interactive and now intelligent web, the world has seen the transition with its eyes. 

Are you planning to develop a web3 app/ platform? If yes, then you have arrived at the correct place.

Suffescom Solutions Inc. is the best web3 app development company that provides spectacular app development services to advance your dreams. They have a development team that will inform you about the web3 app development cost.

But, before talking about web3, let's briefly introduce its history. 

Brief History Of Web 3.0

Web 1.0

The initial version of the internet was known as web 1.0, which began in 1990  and lasted upto 2004. It was more of a uniform one where the information could only be fetched and taken as it is from the web pages. It was more apparently taken as the content delivery matrix.

Web 2.0

With modernisation, advancements were seen in the robust network that could build a super interactive web. Due to advanced technologies, users can create content for themselves. This era started from 2005 to 2012, when social media came into play. Here, the user could create content of their own. The most popular social media apps were "Facebook" and "Orkut."

After Web 1.0 and 2.0, web 3.0 resolved the limitations associated with the previous ones. Let’s learn in-depth about Web 3.0.

What is Web 3.0?

Web 3.0 is the current generation of the internet.  It is also known as the decentralized web, where data is stored in a decentralized format. All piece of information is stored at different locations, and this advanced technology has the potential to decipher the information as human intelligence. It builds a more strong relationship connecting the machines and the people. There is more spotlight on the artificial intelligence responsible for creating the supremely intelligent internet and has gained competence in information handling and processing.

The rapid increase in the use of web3 that supports IoT technology has led to the development of the web3 app. The web app market has spread its branches in almost all the sectors such as healthcare, real estate, travel, entertainment and much more.

Their requirement can be understood by looking at the statistics mentioned below;

  • The web app market is estimated to reach $10.44 billion by the end of 2027
  • The ecommerce conversion rates are two times more than on mobile devices as compared to the desktop.

Taking the conversation forward, let’s discuss its characteristics;

Web3.0 is a vibrant technology with much to offer to the general public and large business corporations. Moreover, web apps do not run on a single server. Rather, they run on the blockchain or a decentralized matrix of peer-to-peer servers. Essentially, this highly secure network is acquired by motivating the network members to offer top-class services to everyone.

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Attributes of Web3.0

Reliability

The biggest boon of web 3 is that it is tremendously reliable. The highest form of credibility is maintained as there is no participation of any third party. The intermediaries are responsible for leaking user information. Due to the non-engagement of data sharing with any arbitrator, the data breach is almost negligible, and thus the hackers find it difficult to break into the system. This eliminates the chances of fraud and allows the exchange of data in the most effective manner.

One basic thing missing in the previous versions of the internet was holding sole ownership available in Web3.

Artificial Intelligence

The power of converting human-generated content into machine data, is possible because of artificial intelligence. There are various bots that provide great technical assistance to users. It has multiple features that hand over the data and organise it effectively. This makes it an extremely flexible and adaptable solution for web 3.0. 

The best part is that it has a vast range of making an improvement that limits the work required for human development. Here, the algorithms operate as per human behaviour to maintain accuracy.

Semantics 

Automated machines understand the study of data and comprehend the content created by humans. But sometimes, the meaning of the words is slightly misinterpreted, which shows some ambiguity in the programming. 

For example, two words have opposite meanings, so for the  machine to recognise that difference becomes difficult. Web 3 has vast adoption of Big Data, data science, advanced analytics, and specialised programming.

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Three-dimensional visualization

The user's attention is kept intact with the amazing visuals. This attributes to the dynamic virtual environment. It has fantastic UI/UX designs that intuitively present the desired information. The integration of the AR/VR and incredibly superb designs in the 3D format develops the interest of the end users. 

Metaverse is an example of such an immersive world that creates a 3D world in a rich virtual ecosystem.

Decentralization

Web 3.0 has decentralization as the primary element, due to which the data is stored in various locations and not in one place. Also, important information recovery is made based on its content. Here, the entire ownership lies in the hands of the content creator. It also eliminates the chances of any fraudulent activities. 

Easing out customers' Journey

The working process of the decentralised system in web 3 makes the entire onboarding journey smooth without any complication. For instance, a person logs in to various websites with their personal social media app; then, in the case of traditional gaming, all the information gets stored on that website. But in the case of a blockchain-based system, the information does not record. This is because the end user is the prime owner of the data. Therefore, no information gets stored on the website during the signing-in procedure.

Web3 games encompass NLP, CSP, and AI, which makes the overall experience of performing operations a smooth process. There is the addition of desired elements without human intervention. Everything gets updated and included automatically without spending too much time on human resources.

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Deciding Factors For The Webapp Adoption

  • The indulgence of the users is more on the progressive web app (PWA) as they are helpful in saving storage space.
  • The design and development of the web app is an easy process that comes under an affordable budget.
  • They exclusively use features like faster loading, real-time processing, scalability and much more.
  • The integration of AI, AR/VR, and IoT (small technologies) in the web app give a fascinating outcome.

Several factors add up to the Web3 app dev cost. The pricing fluctuates for different organizations. For a larger firm, the value could be a bit pricey as compared to the medium-scaled one. But the main point is that the elements remain more or less the same.

Scope Of Work

The preliminary thing that directly impacts the costing is to look for the app's functionality. It stands true for any app development. The phases and features to be included might differ per the project requirement. 

The app encompasses databases, compatibility, API, etc., to make the platform futuristic. Now, such an interactive app will definitely require more time. 

Considering all the development stages, right from design to testing, the price includes the money spent on the developers.

UI/UX Design 

The web 3 app development cost varies from a regular template to the personalized one. There are a lot of variations in both of them. The main difference lies in the app complexity, the graphics that are added, animations integration, components addition or deletion and so on. The essential element is the UI/UX design that acts as the deciding factor for the user's attention. The interface is required to be highly intuitive, interactive, convenient and attractive.

For instance, a simple landing page will take upto 8 hours and an advanced one might take upto 20 hrs. The price depends upon the working hours. In the case of adding 3D animations, the prices rise drastically.

Development team

The development team includes the in-house developers, freelancers and outsourcing companies. Now, as per the project requirement and the demand of the client, the web3 platform development cost varies. 

Depending upon the situation and the need, there are multiple ways of deciding the budget. This can be clearly understood as under;

Freelancers

In the case of a small project, the requirement is also less, so a team of atleast 2 developers are more than enough. But lesser than that, the development process will not be feasible. There is a considerable low pricing cost involved in this process.

There are several risks associated with freelancing, that are illustrated as under;

  • The accurate analysis cannot be predicted due to the absence of the business analyst.
  • It might lead to some delay due to the non-availability of the project manager.
  • There is a heavier risk in opting for the freelancers as they can leave the project anytime in the midway as they are not answerable to anyone.

In-house team

If the project requirement is at a large scale, then an in-house team seems like a much better option. Here, the company hires a permanent team that is liable to perform the necessary tasks. The in-house team is required when a series of projects need to be completed at a proper deadline.

Perks

Full control on the development team

No miscommunication

One can make changes anytime

Risks

The biggest risk is to do hiring to make a strong team starting from analysts, developers, testers, marketers etc.

The hiring process is a bit tedious and requires a lot of time.

The office needs to be rented out which includes the expenses for the place, software/hardware, various taxes etc.

Outsourcing Company

In case there are a larger pool of projects and the in-house team is not able to handle or manage them. Then, in that case, an outsourcing company can be hired. Also, when a  company desires a top-notch product at an affordable price, then hiring for the outsourcing company works wonders. 

  • They have a well-experienced team of analysts that could make a proper cost estimation of the project.
  • Initiating with MVP web app dev for saving money and reducing time
  • The project delievery is always on time.

The only disadvantage that they face is that they definitely charge more than the freelancers but slightly lesser than the in-house developers.

Location of the developer

Location also plays a pivotal role in the costing. It is well understood that the local developers will charge lesser as compared to the offshore developers. The most expensive countries comprise the USA, Australia and Canada. They charge extremely high rates per hour. It may seem a bit complicated but the end result is just mind-blowing.

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Cost Estimation of web3 app

An average web3 development cost starts from $5000 - $250000 for a complete featured app.

Type Of Web3 AppCost Estimation
Simple web app$15k-$50k
Medium$50 k-$150k
Complex$60k-$250k

Bottom Line!

Web3 app development is a profitable business that has lured entrepreneurs in making an investment in the respective project. There are various firms that have initiated the process of implementing Web3.0 in several operations. There have been collaborations among various blockchain development company to make the development process easier. 

Get ready and hire an offshore web3 app developer to build the most advanced web3 app/platform.

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