Web 3.0: What It Is And Its Impact On Digital Marketing.
Digital marketing has come a long way since its inception in the early 2000s. Back then, it was mostly email marketing and social media. However, with the advent of web 3.0 or the Internet of Things (IoT), digital marketing is becoming more digital-centric than ever before.
With the introduction of this new technology, digital marketers are able to create better brands, target audiences more accurately, offer better customer experience and track their ROI more efficiently than ever before. Digital marketing is becoming a part of everything you do online today. It's no wonder why tech companies are investing heavily in it; they have to keep up with this rapidly changing field.
Do you want to learn all about what web 3.0 is and its impact on digital marketing?
Here’s your chance! Read on for the basics of what it is and how it’s impacting your ability to reach consumers online in your industry today!
The evolution of the internet
In terms of evolution, the web has gone through several different stages. The first stage was static pages with news and information that came in Web 1.0; then it transformed into a more dynamic internet with customizable tools and profiles in Web 2.0; now, as we head towards the 21st century's end, it is time for another evolutionary leap-Web 3.0!
The new upcoming trend will be all about interactive websites which are user driven, allow users to share their interests on a platform just by clicking on an icon or uploading content like images or videos.
So, what exactly is web 3.0?
Web 3.0 is the next phase of internet connectivity, which starts with it's first major steps into the sunlight. Beyond VC funding sprees, lobbying efforts and rapid-fire corporate press releases there lies substance behind these new developments in internet connectivity. In basic terms - Web 3.0 offers a more democratic and transparent Internet that allows for a broader range of participants to join without fear or eroding their privacy or security.
The decentralized internet, or Web 3.0, is the next generation of internet technology that emphasizes artificial intelligence and machine learning. It promises to create a more fair and transparent internet in which anybody can participate without being afraid of losing privacy or security. In many aspects it is a return to the original web where "no permission from central authority" was needed for participation; however this has not happened yet as some parts are still missing (such as value). The concept embraces human rights with an overall collaborative environment where everyone becomes equal by delivering actual values to their consumers. 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 do I access Web 3.0?
Web3 is not exactly a new browser, but it can be accessed using the same browsers people use today in order to access Web2 websites. The difference between Web2 and Web3 is that people will now be able to transact with cryptocurrency on sites like Facebook through Metaverse platforms. So for example, a version of Facebook would exist on their own metaverse platform - Horizon- which connects all these apps together.
How is Web 3.0 different from Web 1.0 and Web 2.0?
Web 1.0 —> It is the “readable” phrase of the World Wide Web with flat data. In Web 1.0, there is only limited interaction between sites and web users. Web 1.0 is simply an information portal where users passively receive information without being given the opportunity to post reviews, comments, and feedback.
Web 2.0 —> It is the “writable” phrase of the World Wide Web with interactive data. Unlike Web 1.0, Web 2.0 facilitates interaction between web users and sites, so it allows users to interact more freely with each other. Web 2.0 encourages participation, collaboration, and information sharing. Examples of Web 2.0 applications are YouTube, Wiki, Flickr, Facebook, and so on.
Web 3.0 —> It is the “executable” phrase of Word Wide Web with dynamic applications, interactive services, and “machine-to-machine” interaction. Web 3.0 is a semantic web which refers to the future. In Web 3.0, computers can interpret information like humans and intelligently generate and distribute useful content tailored to the needs of users.
What is the impact of Web 3.0 on digital marketing?
Web 3.0 is going to be a different world from the traditional one - with more options, opportunities and potential. The user will expect more from companies in this new realm and they will want to have a say about how these organizations grow as well as compel them for desired interactions. In order not to disappoint their users, businesses need an alternative model that does not rely on advertising revenues alone.
Nobody can be really sure of what this will mean for the Marketers (not even myself!) but I will share my personal view on the changes that Web 3.0 will bring in our field with the hope that this will act as a good conversation starter.
Control of personal information: Users will reclaim total ownership and control of their data, which are encrypted to protect them. They can also choose to share information with the company on a case-by-case basis.
Removal of the Central Point of Control: There will be no need to trust intermediaries with your data when you can use a decentralized blockchain platform like Ethereum. Your private and encrypted files will be stored in the ledger, unable to be accessed by Apple or Google.
Tokens will be the new currency of web 3.0 : Instead of loyalty points or vouchers, people would like to be rewarded with tokens. These tokens can be used for payment as well as voting on the future of the application.
New avenues for advertising will open up: The internet can be accessed in a different way, and with Web 3.0, it is no longer limited to the screen in front of us; rather it extends into our world all around us. The "metaverse" refers to the transition from traditional advertising toward engaging experiences that are intriguingly new or innovative instead of solely relying on advertisements as we have done previously. Facebook's rebranding provides another indication that marketers must act quickly when they see this metaverse marketing opportunity coming - by making sure their companies don't fall behind.
Rise of hyper-personalized experiences: With the idea of static websites out of the picture, people will start to experience a hyper-personalized online platform that will provide them with accurate content. The humanlike functionality is what makes this such an interesting project!
Bringing it all together, Web 3.0 will offer us a wonderful opportunity to change how we use the web and interact with businesses online. It's not surprising that Web 3 will have its flaws, but it will also bring forth new opportunities for users to engage directly with Marketers to receive better customer experiences in exchange for money or data collection. I hope that any flaws will be rectified along the way, which makes it worth paying attention even if you get your own market share disrupted along the way. Excited?
