Not many titles beat the headlines these days more than Web 3.0 and all the expectations in the digital world surrounding it. And while the excitement about the new (and possibly, closer than you think) future is omnipresent, the idea of Web 3.0 and the perspectives it brings is still somewhat of a distant reflection.
To the source of it
The very genesis of Web 3.0 (or Web3) is to be discovered around the year 2010. In contrast to Web 1.0 and the beginning of the 1990s, that was followed by creation and a rapid expansion of standard web pages, the formation of Web 3.0 wasn’t such a huge boom. Web 1.0 was characterized as «static». With Web 2.0, the world of interactive internet consumption came to reality, and users started – with great excitement – actively participating in the creation of content. Web 3.0 and accompanying phenomena – such as NFTs and DAOs – started from the small community of internet «geeks» and spread around with certain caution just to experience the rebirth at the end of 2021.
If you do not yet operate in the world of virtual (gaming, banking, trading), then perhaps these abbreviations still sound foreign to you.
NFTs are interactive non-fungible tokens that can encompass a huge variety of virtual valuables, starting from crypto-centric gaming coins, digital art and cryptocurrencies. Most non-fungible tokens (NFTs) are stored on the Ethereum blockchain. Ethereum is a cryptocurrency, similar to bitcoin or dogecoin, but its blockchain can also support NFTs, which store extra information that makes them work differently from bitcoin or dogecoin. It is worth noting that other blockchains can also implement their own versions of NFTs.
DAO stands for Decentralized Autonomous Organization. What lies behind DAOs is a computer program that runs on the blockchain – so called «smart contract». Since the set of rules from the «smart contract» governs the entity, there is no need for management or a third party.
And although most tend to consider DAOs as the newer stage in the Web 3.0 transformation, it has been around for a while. At least since 2016 when the DAO Organization raised more than $150 million at the time. Yet, in 2021 DAOs are back, and it seems that they are here to stay.
Metaverses are the main building bricks for Web 3.0 – the virtual worlds where people interact in a computer-generated environment, possess (and also exchange) information – such as, for example, NFTs. It is no surprise that Mark Zukerberg and Facebook reacted immediately with the rebranding to Meta, following the idea to show that it is building a metaverse business.
Bubble or the future?
Some claim that Web 3.0 is just a marketing bubble, a way to «drain people’s bank accounts» and is not real. Ironic, considering «real» is the least concern when it comes to Web 3.0. Also, the perception of «real» is not what it used to be. In the era of metaverses, commodities don’t have to be tangible in order to be real: the rise of crypto proved this in the past. And as long as big companies, such as Facebook or Microsoft, explore the metaverse, the metaverse crypto projects are going to be growing as well.
While some consider Web 3.0 just an experiment or even a game to a certain extent, some others have already taken a serious stance towards the NFTs even before they got widely spread out: metaverses have started being used for real estate trading. The first digital land purchase worth over $32 million has been made at the end of 2021. People have a lot of money in crypto and they see the Web 3.0 ecosystem as an opportunity. Real estate is not the exclusive area that is going to be covered by the NFTs – art, music and fashion come along.
Moqod intends to become a leader in providing Web 3.0 development services to our clients. We are doing our best to take advantage of the unlimited monetization opportunities and new business opportunities that Web 3.0 offers. For example, we are working on a project where NFT will help promote authors and content creators.
Slava Todavchich, CEO of Moqod
Step away from the classical marketing perspective
Skepticism aside, many overlook the growth of the Web 3.0 ecosystem with hope, expecting it to be a well-anticipated step forward from the capitalist nature of Web 2… and particularly the key role of a few conglomerates that have been earning billions of dollars on users’ data. With the internet of things, the idea surrounding Web 3.0 in its early days, has suddenly become reality. Finally, the active usage of crypto – bitcoins, ethereums, and others – has been already bringing much more transparency in the data flow.
One of the most crucial changes in Web 3.0. brings along on the sublevel, is the sense of community, which is reflected through platforms and services, such as Althea or MNTD. – one of the freshest Moqod & AWL projects, where the hotspot is shared between neighbors based on their individual usage. Similarly, such blockchain (read: peer-to-peer) technologies as Handshake or Unstoppable Domains seek to democratize the current DNS network.
Hand in hand with the fact that users’ data will be stored in metaverses, warning bells started ringing from marketing evangelists. How will targeting work? Will Semantic SEO still be relevant in the Web 3.0 ecosystem? Or will the motivation and marketing mechanisms be reinvented? Opinions differ. But it seems to be that as long as there is data to deal with, SEO tools will stay put.
Web 3.0 represents the shift of the paradigm towards the «freer», more democratic, decentralized internet and is expected to change our main patterns of consuming digital content. The key outlets of the Web 3.0 ecosystem take the shape of crypto, VR or artificial intelligence. Still, Web 3.0 remains to be all about the data, similarly to the obsolete Web 1.0 and Web 2.0. What changes is the way how this data is stored and processed. But one thing remains crystal clear: similarly to the financial revolution led by defi, the revolution of the internet is inevitable, and it is coming.