Undoubtedly, the internet has revolutionized all spheres of our lives, from education and personal communication to how we conduct business. One of the latest internet waves promising a lot of new opportunities to companies has everything to do with Web 3.0 technology. Leading companies such as Coinbase and Apple are leveraging the new wave to enhance their brand, engage more prospects and increase their revenue. This article explains what Web 3.0 is and how you can capitalize on it.
Before we delve into what Web 3.0 is, it is imperative to recap where we have been: Web 1.0 and 2.0:
● Web 1.0: Web 1.0 refers to the earliest version of the internet, better known as the World Wide Web wave. Its origin can be traced to the Defense Advanced Research Projects Agency (DARPA), which came up with a global network representing the future of digital communication. Web 1.0 set the foundation for an ever-growing and evolving medium that has expanded to a massive platform with multiple uses. The early internet was mostly comprised of static web pages linked by hyperlinks without any forms, controls, or visuals. This web was non-interactive, with much user input taking place offline.
● Web 2.0: This was the second stage of internet development that ushered in a change from static web pages to dynamic user-generated content and more usability for end users compared to Web 1.0. This is the current state of the internet that has led to the growth of social media and transformed the digital era after the dot-com bubble died. In the new age of the internet, users enjoy a higher level of information sharing and interconnectedness. It allows internet users to actively participate in information sharing rather than just acting as passive viewers who only consume information.
Web 3.0 is the third generation of the internet characterized by the creation of a virtual world within the internet via websites like online virtual shopping malls. Web 3.0 allows users to interact more with each other and transact businesses, including buying products. Key features of Web 3.0 include:
● Semantic Web
● Artificial Intelligence
● 3D graphics
● Connectivity
● Ubiquity
The core Web 3.0 technology allows companies to share content across apps and websites on multiple devices such as Pcs, tablets, and smartphones, thus conveniently bringing more business information to the user. The following are some of the exciting Web 3.0 technologies that businesses can use to their advantage:
● Decentralized block technology: Web 3.0 blockchain utilizes the principle of peer-to-peer connectivity to distribute data across nodes rather than fixed servers. The cryptography algorithms and integrated consensus enable users to choose the information to store, who can access such information, and whether they can change it. This empowers brands to eliminate middlemen such as data storage providers while allowing them to give more freedom and privacy to their clients. This translates to reduced operational costs and increased audience interest.
● NFTs deliver secure copyright: Nonfungible token (NFT) refers to a digital product on blockchain verified by an authenticity certificate. This technology makes product interchangeability impossible, meaning online buyers get precisely the product version they bought.
● 3D interactive web technology: User experience is at the heart of Web 3.0. Web 3.0's 3D interactive web technology revolutionizes user experience by offering virtual users immersive interactions where real word feelings come first. Brands that offer immersion through avatars in a 3D virtual universe tend to attract more consumers to their products and services.
● Web 3.0 social media: Compared to traditional social media, Web 3.0-powered social media delivers limitless business consumer networking. Businesses can leverage blockchain-powered social applications to build a dedicated community and nurture loyal customers organically while fostering strong brand awareness.
Web 3.0 is the next big evolutionary step of the internet, promising decentralized infrastructure and enhanced privacy and security. The new wave of the internet has massive benefits for businesses, including increasing privacy and security, user data control, and delivering interactive customer engagements, among many others.
You definitely don't want to be caught unprepared as Web 3.0 unfolds in front of us. The best way to stay on top of the must-watch tech trends and stocks is to Join Brown Investors membership, where you receive top monthly stock picks, yearly playbooks on the hottest industries, and access to our online community.
Contact us today to learn more.