What Is Web 3.0 And Its Impact On Digital Marketing?

December 21, 2021

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More than 3 billion users worldwide benefit from internet technology every day. The internet has evolved from static desktop web pages geared for content consumption to a more interactive experience. This change was primarily fuelled by three key innovations: smartphones, social media, and cloud storage.

The evolution of the internet

The internet has gone through several stages of evolution since its creation. Static web pages ruled the day in Web 1.0. In addition to providing news and information, some websites allow users to showcase their interests and hobbies. Moreover, to save bandwidth, images and videos were discouraged in Web 1.0.

As the twenty-first century began, Web 1.0 transformed into Web 2.0, a more dynamic, customizable, and user-driven internet. Websites began to become more interactive. In Web 2.0, images and video no longer slowed down websites, and we began sharing them in a matter of a few clicks. And now it's time for Web 2.0 to pave the way for a new and intelligent Web 3.0.

So, what exactly is web 3.0?

The decentralized internet, or Web 3.0, is the next generation of internet technology. It places a high emphasis on artificial intelligence and machine learning.  Web 3.0 promises to create a more fair and transparent internet in which anybody can participate without being afraid of losing privacy and security. In many aspects, Web 3.0 is a return to the original web, where "no permission from a central authority is required.

Web 3.0 is also called the web of value because it connects the concept of decentralization with human rights, resulting in a collaborative environment in which everyone is equal and delivers actual value to its consumers. Here's a thread in which Chris Dixon, an entrepreneur and general partner at crypto venture a16z explained the significance of Web 3.0.

Web 3.0 will impact every industry that uses the internet in some way. However, advertising and marketing will have the most significant positive effects.

How will digital marketing look in web 3.0?

Marketing has evolved in conjunction with the evolution of the web. Web 1.0 was the first to adopt "digital marketing" when web-ad banners first appeared on websites in the mid-1990s. Then came Web 2.0, and the era of social media began. Since then, businesses and organizations have turned to digital marketing and advertising to gain a larger market share and efficiently reach out to their target audience. However, Web 2.0 has some disadvantages, such as a few big corporations controlling the entire internet, the presence of multiple middlemen in the process, a lack of transparency, and the internet being restricted to screens alone.

The move to Web 3.0 provides the necessary ingredients for marketers to efficiently connect brands to consumers. Blockchain technology can increase the data transparency, prevent fraud, and eliminate the need for centralized data collection methods. In Web 3.0, the emphasis will move from chasing views, resolving errors, and treating people as targets to matching the proper messaging and experience. Web3 allows marketers and advertisers to re-establish trust and reconnect with their consumers by giving them control and ownership over their data and providing actual value to their users.

When it comes to the internet, the longer you wait to get up to speed, the more challenging it will be for you to keep up. Brands are already exploring the Web 3.0 ecosystem. For instance, Nike has recently acquired RTFKT, an NFT studio. The RTFKT (pronounced artifact) is the driving force behind some of the most popular NFT drops. Budweiser paid 30 ETH for the beer.eth domain and 8 ETH for the rocket NFT domain in August 2021. It's been nearly impossible to avoid hearing about top brands releasing NFTs in recent months. Facebook has just renamed itself to Meta to emphasize its focus on the metaverse and web3.

How web 3.0 can disrupt digital marketing?

1. New avenues for advertising have opened up in the metaverse.

The Metaverse does have the potential to bring in the next big digital revolution. With Web 3.0, our internet access is no longer limited to the screen in front of us but rather to the world all around us. The metaverse indicates a transition from traditional advertising toward more engaging and intriguing brand experiences. Facebook's rebranding is another indicator that marketers must act quickly to capitalize on metaverse marketing.

2. Tokens will be the new currency of web 3.0.

Instead of loyalty points or vouchers, users are rewarded with tokens in web3. In addition to being used as payment, these tokens can be used to vote on the future of the application. More and more people and businesses will benefit from the web's value creation, and interoperability between these entities will improve dramatically.

3. NFTs will reshape the marketing experience.

There is a strong link between NFTs and Web3. You've probably heard of NFTs, which is a method of assigning permanent custody of a digital asset. As you may have seen, digital works of art, ranging from music to doodles, are currently riding the NFT wave. 

Learn more about the benefits of NFTs and how to market your own NFT project.

The future of marketing has just begun.

Web 3.0 offers advertisers a wonderful opportunity to get back to fundamentals and engage directly with users while providing actual value and experiences. With Web 3.0, we can expect a complete makeover of how we use the web and how we do business online. There is no doubt that there are flaws with how various Web3 features are being adopted right now. Still, there is also a lot of optimism that the issues of Web 2.0 can be rectified with the next phase of the internet, which makes it worth paying attention to, even if it causes its own issues in the process.

How can we help you?

The transition towards Web 3.0 is inevitable, and whoever gets in it earliest will reap the most benefits. We recognize that marketing in Web 3.0 can be overwhelming, especially if you are new to the industry. That is why we are here to assist you in building your audience by managing your brand's marketing in the web 2 and Web 3.0 ecosystems.

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