We all have that friend, colleague, or family member who speaks about Web 3.0 as the future of technology. If the topic has confounded you thus far, read on. This article will tell you everything you need to know about Web 3.0
The way humans consume technology has evolved over the decades. The concept of Web 3.0 can be understood in three stages.
Web 1.0, with basic HTML and emails, marked the advent of the internet. Web 2.0 brought with it an immersive, interactive, and information-centric interface. Currently, we are in the Web 2.0 stage but are continually evolving. We will soon be entering the world of Web 3.0, a paradigm shift facilitated by the creator economy and technological advancement of the internet. Web 3.0 will enable decentralised, private, and secure user-centric applications.
Web 3.0 is nascent and is yet to be universally defined. However, what we know is that Web 3.0 will focus on decentralised applications and effectively use blockchain-based technologies. Furthermore, in the Web 3.0 regime, developers will also use Machine learning (ML) and Artificial Intelligence (AI) to develop intelligent and adaptive user-centric applications.
The world has moved from utilising the web only for the information to create content for others and enable overall economic growth. In other words, Web 2.0 contributed to economic growth and aided human transformation through innovative ways of working and utilising consumer information. That makes us ponder the definition of Web 3.0 and how it can add value to the existing version.
Features of Web 3.0 ecosystem
Web 3.0 refers to the evolution of the internet and the world wide web through innovation. The following features help define Web 3.0.
- Semantic web: The advancement of web technologies to produce, interact, and link through search and analysis to understand the meaning of actual words.
- Artificial Intelligence: Computers interpret information at a human-like level using semantic web and natural language processing to provide quick and superior outcomes.
- 3D Graphics: Web 3.0 uses 3D design technology in websites and services.
- Connectivity: Semantic metadata will enable connecting information using Web 3.0.
- Ubiquity: With the growth of IoT devices, any smart device can utilise internet content and services anytime.
- Blockchain: It enables the protection and encryption of user data.
- Decentralised: Data stored on a decentralised network is accessible by P2P entities.
Now that we have understood how Web 3.0 will revolutionise the future of the internet, let us learn how to invest in this technology.
How To Invest In Web 3.0?
There are various ways to invest in Web 3.0 – crypto assets, NFTs, and Metaverse. We will discuss each in depth.
- Crypto assets: Web 3.0 projects are coming up on the Metaverse platform using blockchain technology, with crypto assets representing them as an asset class. For example: An alternative to the Google Chrome browser is the Brave browser, and its native token is Basic Attention Token (BAT). It’s possible to invest in other upcoming projects through respective crypto assets.
- Metaverse: It’s the virtual world where you can walk around, buy properties, attend a concert with your friends, construct houses on a piece of land and sell them to buyers, buy a commercial building and rent it out, and much more. You can invest in the metaverse via Decentraland whose native token is MANA or Axie Infinity Shards (AXS). These are some of the technologies operating in the metaverse, giving long-term investment opportunities.
- Non-fungible Tokens (NFTs): NFTs will have great utility in Web 3.0. NFTs could be used as proof of ownership in the metaverse. It is possible to buy, sell and trade NFTs on the metaverse. The most popular avatars are Bored Ape Yacht Club, CloneX, Vox, Metakrew, and Crypto Avatars. Firm believers of Web 3.0 can invest in the technology via NFTs.
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It is becoming increasingly clear that Web 3.0 will act as a natural extension of our existing technology. It will lead to decentralised, private, and secure user-centric applications. Undoubtedly, ample investment opportunities exist in Web 3.0. Tech giants and many investors have anticipated the potential of Web 3.0 and are considering its adoption. With its ongoing evolution and adoption, the decentralised technology aided by the Web 3.0 revolution would take a robust shape creating immense investment opportunities via crypto assets.