We all have that one person in our social circles who speaks about the amazing world of Web 3.0 and how it is the future of technology. This topic has intrigued many, and they want to learn about the various aspects of the Web 3.0 world. This article will help to explain everything you need to know about the fascinating world of Web 3.0.
The way we consume technology has evolved over the years. We can break the concept of Web 3.0 into three stages to better understand it.
Basic HTML and emails marked the advent of the internet and Web 1.0. The internet then evolved into Web 2.0, which brought with it an interactive, immersive, and information-centric interface. Currently, we are still in the Web 2.0 stage, but it is continually evolving. Soon we will enter the world of Web 3.0. Technology advancement and the creator economy have facilitated a paradigm shift to Web 3.0. Web 3.0 tools enable users to use private, secure, and decentralized applications.
Web 3.0 is still in its nascent stage and is yet to be fully defined. However, we know that Web 3.0 will focus on effectively using blockchain-based technologies and decentralized applications. Additionally, developers will use Artificial Intelligence (AI) and Machine Learning (ML) to develop adaptive and intelligent user-oriented applications in the Web 3.0 ecosystem.
Users around the world have moved from just seeking information from the web to creating content for others, enabling economic growth. Web 2.0 tools have supported human transformation and contributed to economic growth by adopting innovative methods of working and utilizing information. Web 3.0 is the natural progression of the internet, but what is the Web 3.0 definition? How can Web 3.0 add more value to the current version of the internet?
Web 3.0 features
We can define Web 3.0 as the evolution of the world wide web and the internet through innovation. The below features will help understand the Web 3.0 ecosystem more accurately.
- Blockchain: Blockchain technology enables the encryption and protection of user data.
- Decentralized network: P2P entities can access data stored on a decentralized network.
- Semantic web: The advancement of web technologies will enable it to analyze actual words to understand the meaning behind the words. It will also interact, produce, and link through search.
- Artificial Intelligence: Computers will be able to provide superior and faster outcomes when it interprets information at a human-like level using natural language processing and the semantic web.
- Ubiquity: Any smart device can use internet services and content with the growth of IoT devices.
- Connectivity: Semantic metadata using Web 3.0 tools will enable connecting information.
- 3D Graphics: 3D technology will be used in websites and services in the Web 3.0 ecosystem.
Now that we have some idea of how Web 3.0 tools will revolutionize the future of the internet, let us look at how to invest in the Web 3.0 ecosystem.
How to invest in Web 3.0?
There are many ways to invest in the Web 3.0 ecosystem — Metaverse, NFTs, and crypto assets.
- Metaverse: Metaverse is a virtual world where you can walk around and explore; buy and build houses on a virtual plot of land; sell and rent out your virtual properties; go to concerts with your friends; and much more. You can invest in properties in the Metaverse through Decentraland. MANA and Axie Infinity Shards (AXS) are the native tokens of Decentraland. These technologies provide long-term investment opportunities, and there is potential for many more to operate in the metaverse.
- Non-fungible Tokens (NFTs): There will be many applications for NFTs in the Web 3.0 ecosystem. One of the important applications of NFTs in the metaverse is their ability to be used as proof of ownership. Users can buy, sell, and trade NFTs. Some of the popular NFTs today are CloneX, Vox, Bored Ape Yacht Club, Crypto Avatars, and Metakrew. People who are confident about the future of Web 3.0 can be a part of the Web 3.0 ecosystem by investing in NFTs.
- Crypto assets: Many web 3.0 projects are being introduced on the Metaverse platform using the blockchain network. Crypto assets in the metaverse classify them as an asset class. For example, the Brave browser is an alternative to Google Chrome, and its native token is BAT or Basic Attention Token. You can invest in other Metaverse projects using their respective crypto assets.
Final Thoughts
It is becoming clear that Web 3.0 will be the natural progression of our current technology. It will lead to user-centric applications that are secure, private, and decentralized. There is no doubt that many investment opportunities are available in the Web 3.0 ecosystem. Many investors and tech giants are working on its adoption as they have realized the immense potential of Web 3.0. Currently, decentralized technology is undergoing rapid adoption and evolution. The Web 3.0 revolution will further enhance the development of this technology and create a robust ecosystem with many investment opportunities through crypto assets.
