What is Web3?
During this time, we have seen that in the Internet entrepreneurial circle, everyone seems to be talking about Web3. However, there are various answers to what exactly Web3 is. In fact, there is still no definition with a high degree of consensus, like the "Metaverse".
What exactly is Web3?
To make it clear about web3, we still have to look at Web1 and Web2 first.
This picture has been widely circulated on the Internet before, and the summary is relatively clear.
Web1 is a readable Internet. In Web1, we can obtain news and information from the Internet, but we can almost only obtain information unilaterally and cannot participate in interaction.
With Web2, there are functions such as leaving comments, likes, private message chats, publishing topics, etc. Therefore, Web2 is not only readable, but also writable and interactive.
As for Web3, we can not only read and write, but also own it.
But what exactly does it mean? In fact, it comes down to "control": we have control over accounts, data and information generated by interactions on the platform, assets, etc., and we have the final say.
creator economy
In this world, those who create content (musicians, comedians, artists, etc.) are funded directly by their audience, rather than middlemen such as record labels, recording studios, publishers, etc.
The creator economy is not new to Web 3.0. Creators use platforms such as Instagram, Youtube, Twitch and more to create content for fans. However, on these platforms, the cost of watching this “free” content is serving you ads based on the data held by these tech giants.
In Web 3.0, the creator economy is different, and in many ways better. Creators are completely independent from third parties, have 100% data ownership and autonomy, and can create any content they want without fear of being demonetized or banned. A world where creators make money through authentic creativity rather than ad-driven content, making better products for their fans.
Additionally, in a Web 3.0 world, a creator's earliest and most important supporters can share in the creator's benefits. For example, Chainsmokers recently released an NFT project that allows the owner of the NFT to receive a portion of the royalties from the album. The possibilities for creators with Web 3.0 are endless and can change the way we interact with artists.