Web3 is the third ‘iteration’ of the internet. Hence, you can think of the internet as a spectrum of evolution. Change is the only constant. Hence, the internet is always changing. We started with static web pages in the 1990s.
Today, we can do many things, like shop, communicate, collaborate, play, and earn. To shed some context on how we got here, it is best if we start a history lesson. This history lesson gets divided into Web1, Web2, and Web3. Once done, we can understand how Web3 is a new way of engaging your audience and gaining an active edge.
What is Web1?
To begin, the transistor and microprocessor were invented. As a result, these silicon-based electronic devices aid information in taking up the least amount of space feasible. Moore's law must be recognizable to you. It claims that our ability to cram more information into fewer spaces doubles every 18 months or so. This implies we can accomplish more with our data while using less space.
We broadcast to everyone as we developed the capacity to store vast amounts of data. Fiber optic cables were deployed in grand initiatives to connect every home with a broadband connection. The Web1 age has reached its pinnacle. We saw the emergence of massive businesses in the 1980s and 1990s, which we are all acquainted with now. Apple, Amazon, Google, and Microsoft are among them.
The Web1 era has come to an end.
What is Web2?
Following the turn of the millennium, the focus switched to how we might leverage open-source protocols to produce value. As a result, people begin to ask questions about the internet's usefulness in our daily lives. The focus changed away from sharing knowledge via free websites.
The digital advertising age has arrived. E-commerce, social networking, payment processors, and other businesses were all on display. In the early 2000s, the digital economy was born. Everything was on its way to becoming digital as we got through the Great Financial Crisis of 2008.
The introduction of the iPhone and mobile internet is the clearest illustration of Web 2. People began to use the internet as costs decreased throughout the world. People began to stay online for extended amounts of time.
What is Web3?
The birth of Web3 may be traced back to the publication of the Bitcoin whitepaper in 2009. For example, the phrase Web3 has been used previously in several situations. A user-owned internet is not a novel concept. Researchers and academicians have been attempting to establish a peer-to-peer network since the 1990s.
This would eliminate the necessity for platform-based companies. Satoshi Nakamoto demonstrated for the first time that it was achievable in practice using Bitcoin.
Tokens are the atomic units of a new internet in Web3. As a result, tokens are to Web3 and websites were to Web2. Tokens enable us to integrate payments into the very fabric of the internet. Separate from the internet, the financial system has always existed. Human value exchange and cooperation may be scaled using blockchain technology.
Web3: A new of Engaging Your Audience and Gaining a Competitive Edge
So, why is Web3 such a big changer for enterprises and companies? Let's have a look. For example, we categorize the points based on the audience's point of view criteria. We also bear in mind that businesses seek to use Web3 technology to achieve a competitive advantage.
Give Users the Control They Seek
Data privacy is an issue that piques people's interest. As a result, it is dismissed since the solutions are inconvenient for users. As an internet user, for example, you must take several efforts to guarantee that you control your data. Similarly, with Web3, the blockchain eliminates this issue. As a result, smart contracts are used in every contact we have on a blockchain-enabled website. Users now have ownership of this information in their wallets.
Web 3 allows Companies to Engage Users with Digital Assets
The market for non-ferrous metals is not new. Popular games did employ digital objects and skins to engage consumers in certain ways, but they did it within their own walled gardens. Web3 and NFTs, on the other hand, enable businesses to construct interoperable digital assets. Every organization with an internet presence may employ digital assets to engage its customers. Users can have access to unique experiences using programmable digital assets.
Web3 uses blockchain technology to create new economic value
Web3 reinvents the internet's data architecture. As a result, the relationships between users and businesses are altered. Customers become owners of enterprises utilizing blockchain technology and tokens. This small move has massive ramifications for every business in the world. Tokens allow users to become advertisers.
Token owners like talking about their company to others, which helps them develop. This had never been done before in the history of the globe. For example, for a long time, businesses regarded consumers as though they were something to be pursued. This old paradigm is reinvented as a new type of economic value via Web3.
Conclusion
The internet is being reinvented by Web3. For example, the Web2 community is still grappling with it. But only for a short time. Similarly, the world's largest corporations and organizations have already revealed plans for digital assets. We're entering a decentralized internet, and it's feasible that the transition from Web1 to Web2 will be speedier. Companies of all sizes must accept this transformation and continue to operate according to their present business strategies.
We build an NFT Marketplace which excites and motivates
We are a group of talented and dedicated marketers, designers, developers, and IT specialists who bring together our knowledge of the field and experience to design unique concepts and strategies that are tailored to the needs of your company and needs.
Hire our NFT Marketplace Developers
With a talented team comprising developers who are highly skilled, we will provide you with the top solutions for the growth of the NFT market. If you're looking for the top developers to develop and build an NFT platform that is top-quality in terms of functionality You can work with our experts on a daily or monthly basis, or even an all-time basis. Complete your project with modern features and cutting-edge technology from our team.