Squirming on the satin sheets, rubbing her eyes, Elena spoke her first sentence of the day- “Alexa, please play BTS’ ‘Yet To Come’.” Placed on the side table, the tiny round box with a glittering streak of lights circling its rim obeys Elena’s order and plays the song in a second. Well, this might just be another example in a random article blog but it proudly represents the reality we are living in. We have so deeply rooted technology in our everyday chaos that it seems nearly impossible to think about a setting that depicts anything otherwise. Starting from the very first sip of the morning coffee, technology stays with us like an invisible friend all through the hustle of the day. Admitting that we are dependent on technology would be an understatement because we are actually living, growing, and developing on it. The importance of technology in our personal and professional life is so wide that we cannot ignore it no matter how much we want to become self-reliant.
The best thing about technology is that it evolves. It keeps on upgrading itself to suit the requirements of the users and satisfy their demands for growth. Technological innovation paved the way for new-age technologies like blockchain, AI, cryptocurrencies, Machine learning, and Web 3.0. Ever since society began globalizing, we witnessed a shift in the way we use the Internet. Where earlier it was primarily used as a business tool, today it is one of the most powerful resources for social interactions. Now, the Internet talks more about security and privacy as a major part of the global population is having a digital identity on the web. This encouraged the shift to the third phase of the Internet called Web 3.0.
Web3 encapsulates decentralization in the form of blockchain technology to offer a more secure and transparent Internet experience. It strives to unlock new opportunities for creators by ending the monopoly of business magnates over the Internet. The dawn of Web3 development has started with the surge in the popularity of concepts like NFTs, crypto, and Metaverse technology. It is essential for marketers to know how to grow around the Web3 technology effectively. Here in this article, we will learn metaverse concepts and share views on how Web 3.0 marketing will evolve in 2022 and in the coming years. So, let’s jump on our topic quickly.
The Story behind Internet Evolution
The World Wide Web has come a long way since its inception in 1989 by Tim Berners-Lee, a British scientist who revolutionized the tech space. It moved gradually in stages starting from the first version called Web 1.0 to the second version of Web 2.0 and now the latest version of Web 3.0. The three distinct phases have different characteristics like:
The first version was designed in the early 1990s and had a read-only infrastructure. It supported only static HTML pages that were accessible with a browser. Web1 was focused on information publishing so that it is easily available to a large number of people.
This version came in the later part of 1990s and focused on read-write structure. It emphasized on interaction and collaboration through blogs, wikis, social media platforms, etc. Users became active participants and could easily create and share content online.
Web 3.0 fosters the read-write-own Internet structure. The use of blockchain technology makes it decentralized and digital. It strives to give the creators ownership right over their content by pulling power from the few big fishes of the industrial world who up until now control the flow of information on the Internet. The decentralized web involves Augmented Reality, Virtual Reality, AI, spatial technologies, 5G, semantic web, cloud computing, etc. Talk to a Web3 expert and they would readily accept that Web 3.0 is the future of the Internet.
What is Web 3.0 Technology?
In Layman’s terms, Web3 is the next-gen Internet that promotes decentralization to offer a more personalized, interactive, and immersive experience. It runs on new-age technologies like blockchain and AI so as to give users unprecedented control over their digital assets, data, and content.
Decentralization enhances the level of security, privacy, and transparency within the Web3 ecosystem. It comes packed with an exclusive range of features such as user-focused interface, anonymity, safety of bulk data, and many others. The core infrastructure allows creators to design their content, place it online, and enjoy full ownership and control over it. The technology strives to give more control to digital content providers who were neglected in the earlier two versions of the web.
Though, Web3 has been an area of discussion for long, it is mostly after the recent COVID-19 pandemic outbreak that it garnered mainstream attention from around the globe. Today, multinational corporations and business entities are investing thousands of dollars to expand their Web 3.0 ventures.
Salient Features of Web 3.0
Semantic Web represents a mesh of data interconnected in a way that it can be easily processed by machines rather than humans. Web3 is sometimes addressed as semantic web because they share a common vision when it comes to services. It uses metadata links web content in a system that’s useful to machines so as to facilitate seamless communication between computers and humans.
Web3 technology is ubiquitous which means that it is present and accessible at all times from anywhere. As it uses blockchain technology, Web 3.0 provides swift accessibility for every person on any device via any application route. With IoT, more and more people are connecting to Web3 everyday.
As mentioned above, decentralization is the heart of Web ecosystem. There is no central authority to govern the Internet rather there exists a strong cluster of network nodes that verify and validate the data. It works as a distributed network where each user enjoys ownership and control over their content.
Blockchain is a decentralized digital ledger that stores transactions in blocks secured by cryptography. Cryptographic encryption gives full security, transparency, and immutability to the channel. Each transaction is time-stamped and tamper-proof because there is no single storehouse of data which can be easily hacked or compromised. The data is stored in all the participating node computers and this makes it difficult for intruders to attack it.
Increased privacy and security
Blockchain gives Web3 technology users the much-needed security and privacy. With Web 3.0, creators can control their data at their will and choose who can access the content and how and when. Users also get to enjoy anonymity which makes it a prominent choice for a plethora of operations.
How will Marketing grow for Web 3.0 in 2022?
NFTs to Rule the Market
Ever since the start of 2021, Non-Fungible Tokens made a striking lead within the virtual assets space. The NFT market grew exponentially leaving behind some of the most prominent investment resources. Industry experts are hopeful that 2022 will continue to witness the NFT boom with active participation from young Millennials. NFTs are digital collectibles that represent a real-life assets such as an art or real estate. They are non-fungible which implies that each NFT has a unique identification code which cannot be replaced with others.
Presently, NFTs have become a popular choice for celebrities who are investing in related projects wholeheartedly. NFTs offer celebs a unique interface to connect with their fans while the fans get to access products designed by their favorite stars. These digital collectibles help people to own a share of something rare, unique, and worth. It is predicted that the sector will welcome new brands with innovative projects all through this year.
Sustainability in Focus
Green and sustainable initiatives will garner attention from the Web3 ecosystem. Firms are likely to shift from the energy-intensive Proof-of-Work algorithm to the more scalable Proof-of-Stake consensus module. With PoW, Web 3.0 will offer a more environment-friendly work infrastructure for the industry to grow.
Expansion of Virtual Technology
In 2022, Web 3.0 technology will play a significant role in developing the virtual world of Metaverse. We know that Metaverse offers a network of virtual spaces where people can interact, play, work, earn, and connect with each other. It opens doors for a community that strives to bring real-life experiences within a digital environment. Metaverse is not limited to just gaming now. It is likely that in the coming months we see more diversified usage of the technology in the form of new products and projects.
The growth in popularity of Metaverse has made firms like Meta, Microsoft, Google, etc. to explore the potential of the technology through experimentation and innovation. To reap maximum benefits, it is essential for marketers to actively participate in the metaverse craze. They should keep themselves updated to the changes in the sector and give time to research for unraveling the hidden potential of Metaverse and Web 3.0.
With the further expansion of Web3 technology, its highly likely to see more control resting in the hands of the users. Decentralization will allow creators to manage their content as per their will. This will encourage community-focused initiatives by firms and industry as a whole. For marketing, this will hint towards higher standards of transparency, inclusiveness, co-creation with users and influencers.
Web 3.0 will strive to push a more immersive and interactive experience for users. Metaverse technology will play a significant role in this. Virtual events will take over in-person events, opening doors for a more liberal connectivity. Users will get complete freedom to choose how and when they want to engage with a digital content. Marketers will give emphasis on creating immersive experiences for customers. With a more holistic Web3 access, users will be able to communicate their requirements, responses, and feedbacks to the business entities easily.
Web 3.0 will unlock new opportunities of earnings for users. Marketers will rely on blockchain technology to provide a fair and equitable incentivizing system. For instance, with ownership proof validated by blockchain technology, firms can give sort out customers in different categories and reward them accordingly. Those who meet the criterias set by the marketers and outperform others in them should be entitled to receive extra rewards.
Technology has unlocked the hidden potential for the global industrial, financial, and economical spaces. Web 3.0 can be titled as one of the most crucial developments in the history of the Internet as it opens doors for a decentralized, open-sourced, and transparent web. The Web3 marketing cluster will take multidimensional evolution in 2022 and lay the foundation of tech revolution.
If you are planning to learn more about Web3, then you can enroll yourself in Web3 certification courses offered by Blockchain Council. The platform is a suitable interface for seeking Web3 education in a cost-friendly and simple way. The courses offer in-depth subjective and practical knowledge about Metaverse blockchain, Web 3.0, and cryptocurrencies to the users.