The web is constantly evolving. Web 2.0 is the version we all know we’ve been using since the mid-2000s. This period saw the rise of social networks, which are essential today. But in 2014, Briton Gavin Wood coined the term Web3, which was linked to the concept of a decentralized Internet, to get rid of the monopolies used by major groups in the region, such as Amazon, Google (or rather Alphabet) or Facebook. So to receive. ,
Will Web3 replace the previous web?
According to Jeff Kaufman, founder of Web3 technology, Web3’s first community for marketers, a community constitutes a platform in contrast to Web 2.0 which is a platform built for communities.
But let’s go back a bit. If Web1 was stable, Web2.0 saw the emergence and development of social networks. As for Web3, it aims to be decentralized to free itself from large corporations and ultimately allow users to have more control over their data. Nevertheless, it will not replace previous web sites that have already proven themselves, because without them, there would be neither mail nor e-commerce sites.
At the moment, Web3 is not completely finished. It’s still under construction, but it already offers creators multiple perspectives.
How is Web3 different from Web 1 and 2?
With Web2, the creator does not earn what he would normally have due. The numbers speak for themselves. According to the Statesman, YouTube earned about $7 billion on ads in the first three months of 2022. However, this windfall has no bearing on the creators who publish their productions there, as many of them have to juggle other jobs to meet their needs. This situation occurs on almost all community platforms, which Web3 wants to avoid.
That’s why Web3 was designed to allow creators to benefit from their content. To do this, middlemen are removed so that over the counter monetization can be done. The concept will be based on the principle of tokenization (token in French), a digital monetization system that does not require an intermediary. Its value depends on the technology that powers it.
The creators, choosing the platform that best meets their expectations, can decide to create their own tokens and run their business for the resulting exchanges. Thus he can better control the income he receives. If it collaborates with other creators, profits will be shared equally using specialized, intelligent contracts suited to different fields of activity.
Manufacturers in control of their content
Web3 aims to give creators the opportunity to be in control of their content. These will not generate income for a web giant like Alphabet for example. The profits will go directly to the creators, who should be able to make a living from their work. Furthermore, since transactions are recorded on the blockchain, they are secure and encrypted.
Absence of middlemen between creators and their customers or investors
Traditional platforms do not allow creators to migrate to another if they feel they do not have enough visibility or if they feel they are not profitable enough, which is not the case with Web3. They are not dependent on advertisers and can interact with their investors without middlemen and sell their products directly to their customers.
More visibility for creators
Content is not affected by competition. Each brand is able to make a difference by offering content that is out of the ordinary or has specialties that make it unique in its style. Many brands have understood the benefits Web3 has to offer. They invite their fans to join an immersive world in which they evolve to find treasure, to gain points or accessories that will allow them to stand out from other consumers.
monetary value and trusting relationships
Added to product visibility is the opportunity to increase product value. In fact, the latter tend to increase in value when they are not mass produced in the context of mass consumption. Like high fashion clothing, designer jewelry or cars, they become more expensive the more they are produced in very small quantities. Fans won’t hesitate to pay top dollar to be among those who can get it. Gaining exclusive benefits from their favorite brands gives them a sense of belonging and strengthens the bonds of trust between various stakeholders. For creators, this is a big advantage, as there is no intermediary involved.
Web3 is still in the experimental stage. The fact is that for companies, this is an area that needs to be explored to measure its full scope. With Web3, the principle of balance and equal distribution of wealth is put forward.