Web 3.0 The Future of The Internet (what does that look like and why should you care?)
Updated: Aug 25, 2022
Written by Amaogechi Njoku
Student of the WUTW STARZ* Web3 & NFT Accelerator Program 2022
Listen up! Artists, Designers, Content Creators, Writers/Editors, everyone!
With anything and everything becoming more digital, you’ve probably stumbled across concepts like NFTs, cryptocurrencies like bitcoin, or perhaps tech’s newest buzzword “web3”. Now, to understand what web3 is all about, we must immerse ourselves in the history of the internet. The internet can be broken down into three variations: The Past(Web1), The Present(Web2), and The Future(Web3).
Web 1.0 refers to the internet of the 1990s to early 2000s, when it functioned as read-only. It was pure text and hyperlinks with simple images. Therefore, the mass majority of individuals couldn’t put out information online themselves unless they were web developers, which very few were at the time.
In the age of the internet, now, web2.0 functions as both read and write. Not only can we consume content (read), we're also able to create it (write) on many different social platforms. It's a centralized form of the internet owned by a few big tech companies like Google, and Facebook, which monetize your data from these social applications.
It is the era of social media, where users can post and engage with one another for the first time. Who else remembers making their first Instagram / Twitter account? Or how exciting and effortless the posts were. I was in middle school when I first made my Instagram account. Funny enough, at the time I didn’t even own a phone! Obviously, since then many social media spaces have transformed into powerhouse platforms, in what is now the influencer era. It’s also where just about anyone is seconds away from going viral or getting canceled.
Web3, the third iteration of the internet. Unlike Web2, it introduces a decentralized concept. Meaning you can consume, create and own content (read-write-own). Web3 utilizes blockchain technology, cryptocurrency, and NFTs to grant users ownership and monetization. No more “middle man” or third-party entities!
This kind of technology is also set to improve spaces like the virtual gaming world, where nfts have already been seen at the forefront. Allingames features articles that explain how nfts have the potential to improve the gaming world through in-game NFT items. Essentially, users can create gaming items in the form of NFTs where you could sell or trade within the game. This sheds light on other web3 concept, such as the metaverse, a 3D virtual world built on social interactions.
Why Should You Care ?
Close your eyes, imagine a space where you can create as much as you want however you want without ever compromising your integrity as an artist, and as a bonus, make millions off of your works. Now open them! If that even sparks the slightest bit of interest, then there is no question as to why web3 would be most beneficial for you.
Take a look at NFT artist Krista Kim. Kim’s mission is to “create ecosystems and leading-edge digital humans to uplift human potential”. She created one of the first metahomes, the “Mars House”, in March 2021. This piece granted her global recognition as it was also “one of the highest-selling NTFs on SuperRare”. She’s collaborated to create more with brands like Louis Vuitton, chosen as a visionary, in celebration of the fashion house's 200th birthday. It’s artists like her that are changing the game of NFTs and inspiring others to follow suit.
As an aspiring writer and content creator the opportunities in the world of web3 have sparked my interest. Ideas of potentially creating NFTs of editorials/artwork and selling them to just about anyone interested. All in a decentralized space where I, the creator, own my content. The same rules apply for an artist or any kind of creator out there. This technology grants ownership and a space to monetize your work.
The Future of the net is happening now, and it’s Web3!