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Everything You Need to Know About Web 3 and the Metaverse

Will metaverse change marketing concepts in the future?

Does your daily social feed read as below? 

“VIVERSE Partners With ZombieClub to Create New Web 3.0…”  

“KPMG forays into the metaverse invests $30M for employee training…”  

“A16z Leads $6M Seed Funding Round in Blockchain Linera…”  

And does it leave you questioning what terms such as blockchain, metaverse, Web 3.0, cryptocurrencies, etc., actually mean? Don’t worry because we will demystify every term for you! Decoding the Web 3.0 revolution and associated technologies is crucial to understanding the metaverse, NFTs and cryptocurrencies concepts.  

Web 3.0 utilises decentralised protocols to address issues of data ownership and control. This means that internet providers do not have the authority to impose their will on who uses their services. Blockchain is an example of decentralised technology that gives access to information without going through centralised servers. Metaverse and NFTs are the means to experience this new internet and discover its potential. Read on to get answers to a few commonly asked questions on Web3, Metaverse and more.  

How does Web3 integrate with the metaverse?

Web 3.0 represents the advancements in the internet and future technology development. Metaverse is a domain in virtual reality where you may interact with 3D objects using AR/VR devices, i.e. it focuses on how we will experience the internet of tomorrow. While most of the current metaverse platforms are centred around gaming, the rate at which it is growing won’t be before it transforms the way we live and socialise with people around us. So, for example, instead of having a client meeting over Zoom, you may be able to meet them in a virtual space using a VR headset

Why is blockchain leading digital evolution?

Blockchain, a decentralised ledger, is a public database that can’t be manipulated. It offers cheaper and faster payment options. Ideal for delivering fast and accurate information, blockchain provides higher levels of safety and transparency. A noteworthy fact is that blockchain has completely changed the rules of ownership. It allows fractional ownership, making crowdfunding and value sharing much more effortless. Blockchain technologies have empowered Web 3.0 to become a digital marketplace where the user decides the value of their product and is in charge of transactions and their data.

Does Web 3.0 support Blockchain?

Short answer, yes! Long answer, the decentralised nature of blockchain technology means that in combination with Web 3.0, it will be a mammoth shift in how the internet will be used in the future. There will be no requirement for a central authority like a bank or government to control transactions between people or businesses, changing how we live, work and interact personally and professionally.

What are immersive media in Web 3.0 and its influence on content marketing?

Technologies like Virtual Reality (VR) and Augmented Reality (AR) make up immersive media. These innovations are rapidly becoming the future of content marketing with their ability to assist in creating engaging & interactive content for the entire consumer demographic. With the introduction of extended reality (XR), 360° videos and so on, it has become easier for brands to cultivate a personalised customer experience. However, the potential of immersive media is still being explored. Still, it cannot be denied that it will change how we interact with our devices, interact with each other, and absorb information. Blockchain-powered Web 3.0 will be able to store data and aid in content marketing soon

How to be business-ready with metaverse?

Web 3.0 and metaverse have been extensively used for brand promotions and to establish a more personalised approach to winning over the audience. Here are some ways your business can transition and thrive in virtual reality-led marketing.

  • Discover your niche: Is it always good to have a clear picture of what you want for your business and how you can leverage metaverse and web 3.0 to achieve it. 
  • Consider rebranding: With the availability of new technologies and social platforms, it is time to re-evaluate whether your business requires a visual makeover. It helps to create very direct messaging to capture your audience’s attention.
  • Remain adaptable: While the digital revolution is taking the world by storm, it is still developing every day. While it is the right time to experiment with your business, staying in touch with old-school marketing methods is also wise. Striking a balance between tradition and innovation will be the most business-ready you can ever be.

Frequently Asked Questions

1. What are some decentralised tools that are available to use? 

Here are some decentralised tools that you can use:

  • The InterPlanetary File System 
  • Solid  
  • Urbit 
  • FreedomBoxDiaspora
  • Mastodon 
  • Polkadot 
  • Zora 

2. What is a decentralised platform? 
Ans. The decentralised internet is an ecosystem of applications, platforms, and technologies that enable operations with no intermediaries. It is considered an autonomous system independent of banks or the central government. 

3. Why is web 3.0 the future of the internet? 
Web 3.0 will be considerably more secure, scalable, and offer users better privacy. In addition, it challenges the ownership of data on the internet by a select few tech giants. 

4. What is metaverse technologies? 
The Metaverse is built on the convergence of augmented reality (AR) and virtual reality (VR) technologies, which facilitates interactive experience for users with digitally created items, virtual environments & people.

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