As far-fetched as it may sound, early-stage applications of the Spatial Web or Web 3.0 are already available. Now is the time for leaders to understand what the next computing era entails, how it might transform businesses, and how it might create new value as it unfolds.
The once-distinct line separating our digital and physical worlds has already begun to blur. Surgeons are now experimenting with holographic anatomic models during surgical procedures. Through the use of the Internet of Things (IoT) and augmented reality, manufacturing, maintenance, and warehouse workers are experiencing significant efficiency gains. The demand for blockchain certification India is constantly rising. Still, there’s a sense that we’re not quite “there”.
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So, before you go set up your virtual office headquarters in Decentraland, know how the business sector has an advantage when the “future of the internet” arrives in all its glory.
Most people are susceptible to marketing hype. They are uneasy about what they don’t understand. Most people will only learn something new if it is thrust upon them and they have no choice. That should not be you. So, be well-informed before you enroll in a blockchain course online.
Let’s Begin with A Brief Overview
The first generation of the web, now known as the “static” web, had simple websites, designed to provide visitors with information. From the early 1990s to the early 2000s, this was the most common site format. Then, as web technology advanced and broadband internet adoption increased, the Web 2.0 era began. It introduced us to social media, user-generated content, ad retargeting, and influencer marketing.
We’ve been in the Web 2.0 era for about 15 years. However, we are beginning to see the emergence of a new web. As our lives become more digital and as many web users become dissatisfied with the “surveillance economy” and the big data, a paradigm shift is taking place.
Is Any Of This Significant To Brands?
Were brand stakeholders concerned about getting attention on Facebook when it was being developed in a dorm room? Most likely not. However, as history has shown, the longer you wait to understand the direction the internet is taking, the more difficult it is to catch up.
With that in mind, let’s look at how some brands are already dabbling in the blockchain platform and Web3 ecosystem.
NFTs
Let’s begin with NFTs. Over the last few months, it’s been nearly impossible to avoid hearing about NFTs. Headlines boasting multimillion-dollar sales for ownership stakes in digital images were unavoidable. As markets have cooled and sales prices have fallen, headlines have emerged questioning the validity of NFTs.
There is a natural connection between NFTs and collectibles brands like Topps and Funko. In April, Topps began releasing NFT baseball cards. Packs could be purchased online and virtually opened, providing buyers with the traditional element of surprise, and an online marketplace facilitates trading and selling on the secondary market.
In the coming years, we will see NFT and smart contract technology integrated into a wide range of digital transactions, from concert tickets to micro-investments. Brands will be able to validate the authenticity of their digital assets and track them as they travel across the web. The demand for skilled, knowledgeable blockchain professionals will also see a surge in growth.
Metaverse
The Metaverse is another place where decentralization, blockchain technology, and NFTs will help usher in the Web3 era. And it’s not all that far away. Several online platforms are already competing to become the dominant platform for our virtual lives. To name a few, there are The Sandbox, Decentraland, and Cryptovoxels.
Forward-thinking brands have already staked their claim, literally. Brands can purchase land plots in The Sandbox and construct entertainment experiences on them. If you want to learn more about how is it possible, an advanced course in blockchain engineer provides a deeper insight into the details.
Communication & Digital Marketing
The ability for marketers to expand consumer interactions is one of the most appealing prospects provided by web 3.0. Brands are now establishing superfan communities on their platforms, allowing them to reach out to their fans without relying on centralized autonomous facilities. These communities foster loyalty, generate UGC (user-generated content) and stimulate innovation through co-creation activities. For example, The Hundreds, a well-known streetwear brand, has grown its Discord community to over 28,000 members.
With the biggest social networking brand revamping for the metaverse, it’s easy to imagine a future in which our online lives are as important as our offline ones. Millions of people participate in the metaverse via play-to-earn or cryptocurrency staking. Though, there’s still a long way from Mark Zuckerberg’s Ready Player One. Laying the groundwork for newer ways to generate value and development is thus required for brands to transcend the Web3 ecosystem. As a result, the job vacancies for blockchain professional is soon going to explore.
Moving Businesses into WEB 3.0 Isn’t as Difficult as It May Appear
Web3 is primarily based on a blockchain platform, which is a decentralized, configurable global computer that serves as a shared ledger. This enables users to hold unique (non-fungible) digital commodities that can be purchased, sold and resold in the same way that physical objects can. Virtual apparel, art, gaming items, music, access cards, and real estate are examples of such items. All of these are cross-platform compatible. Derivatives are no longer required to be tangible to be valuable, which opens up entirely new sources of income that are unaffected by global supply chain disruptions. Brands have the opportunity to invest in and profit from this ownership property.
There are numerous other reasons for strategic businesses and brands to establish themselves. Infinite possibilities for experimenting with new ways to connect to the metaverse. The main goal is to create a “brand identity” . Brands can now build loyal customer bases by redistributing power back into the hands of the people.
Key Takeaway
These days, people’s desires for social status and self-expression become more pressing as everyone spends more time online. There is no doubt that we are in the early stages of the next internet and digital economy era. It will have an impact on brands on almost every level. The sooner brand stakeholders begin experimenting and connecting with their audiences in these new ways, the better. If you want to take an active part in the web 3.0 movements, consider enrolling for the best blockchain certification in India for more insights.