Technology has significantly changed how people conduct business. Three waves of technology development have occurred since the dawn of the Internet. They’re commonly referred to as Web1, Web2, and most recently, Web3.
Static information pages dominated Web 1.0 (text and graphics). Next followed Web 2.0, where it all started to become interactive, social media networks began to form, and people could start communicating with one another through blogs, tweets, and Facebook status updates. What’s next?
The decentralised web, or Web 3.0. Here’s what you need to know about Web3.0 marketing.
Web3: What is it? What brought us here?
It’s time to start anticipating the Internet’s future. Many experts believe that Web 3.0 will have a big impact on businesses and society as a whole. It’s sometimes referred to as the next-gen of the Internet and web protocol.
What precisely is Web3, then? What became of Web versions 1 and 2?
Web1, the initial phase of the Internet, began in 1994 and peaked around 2000. The original phase of the World Wide Web’s development was defined by websites that relied on static text and graphics.
Web2, which is used to describe websites that incorporate user-generated content and put a strong emphasis on UX (user experience), is the second phase of the Internet.
The Web2 revolution caused a change in the way that we communicate and use the Internet to get our information. The use of social media platforms such as Twitter and YouTube increased. Phone apps such as Instagram made it simpler to obtain information while on the go. Web2 relies on the power of computers and servers that are connected to the Internet.
Web 3.0
The newest version of the World Wide Web is known as Web 3.0 or Web3. Artificial intelligence and semantic web technology are involved in it. And the next stage of development for websites in the age of Web3 builds on Web2’s interactive and socially adept websites and Web1’s informational websites.
The hallmark of Web3 is also characterised by the creation of a virtual space containing interactive online shopping malls. This enables users to connect with one another and purchase goods.
In addition to personalisation, Web3 also includes the Semantic Web. This gives a foundation for information reuse and sharing more readily amongst apps, communities, and businesses.
With the help of this technology, information can be shared in a variety of ways while also being distributed, and online privacy may be controlled.
Web3 marketing: What is it? What business impact will Web3 have?
A concept called “Web3 marketing” examines the web by focusing on emerging trends and technological advancements.
The way we view the Internet is transforming, not just evolving. Web3 marketing encompasses more than just webpages and SEO.
The user experience is improved by a Web3 environment since it offers more robust and interactive advertising alternatives. Because of this, marketers can now reach more specific people with their ads.
Marketers will be able to promote their products and offer a more effective strategy with Web 3. Why is that?
Well, for starters, they would have access to a diverse set of information sources. This would influence their choice of purchases. Web3 marketing’s advanced user experience abilities let marketers go into an entirely new realm of inventive advertising and marketing.
Fundamentals of Web3 and Web3 marketing
Here are some terms that you need to understand when it comes to Web3 marketing:
Semantic Web (SW)
The semantic web will improve communication between machines and people, as was already described in the article. To define the material in a way that is machine-readable, the SW will employ metadata.
In other words, the day-to-day mechanisms of trade, bureaucracy, and other components of our daily lives would be handled by machines talking to machines. No human agent would need to be present for these tasks to be fulfilled.
Artificial Intelligence (AI)
With the use of Natural Language Processing (NLP) technology, which enables computers to comprehend, interpret, and manipulate human language, Web3 will enable computers to function more like people by understanding the data presented and responding with accuracy and speed.
Ubiquitous
According to the Oxford Dictionary, ubiquitous means “present, occurring or found everywhere.” Web3 is accessible to everyone, on all devices, and through all applications. The Internet of Things (IoT), which provides the ubiquitous web, is responsible for the daily increase in the number of devices that – you guessed it – use the Internet.
Decentralisation
Web 3’s key concept is decentralisation. Web3 is frequently referred to as a decentralised web or semantic web, as we have already mentioned.
In Web2, computers identify and locate information stored on servers—typically a single server—at a specified place by using the HTTP protocol. In other words, data in the world of Web2 is stored in servers belonging to companies and corporations (e.g. Facebook, Google, etc.).
For Web3, however, information would be stored in multiple places at once as opposed to just one, hence the decentralised aspect. As a result, there wouldn’t be a facility for data storage.
Given that Web3 is decentralised, there would be:
- No intermediates: Web3 presents a singular chance for people to assume charge of their data and trade value directly with one another, without the use of a middleman, thanks to the development of Blockchain technology. Most social media sites are centralised, which makes them susceptible to information manipulation and data breaches. To achieve full freedom on the web, data ownership is a necessary component.
- No risk of server failure: Due to the absence of centralised servers, many centralised web services, including Google Docs and Facebook, would not be at risk of server failure. By enabling people to own their personal data rather than having businesses hold it and sell it to marketers, decentralisation also facilitates the realisation of fundamental privacy rights.
- No data theft: In Web2, data theft was a thing, and if you stored your data in the cloud, you were almost certain to become a victim at some point. Our digital lives are becoming increasingly centralised, which makes us more open to those looking to use our information for their own ends.
- No external authorisation: Users might examine their data without requiring any outside authorisation. Since users wouldn’t have to disclose their personal information to outside parties, this would boost their security and privacy.
3D
Future generations will be increasingly drawn to three-dimensional design as it can facilitate understanding more effectively than two dimensions.
Additionally, as Web3 matures, more and more applications—like those for virtual reality (VR), augmented reality (AR), and 3D product visualisation—use three-dimensional design.
Blockchain’s importance in Web3 marketing
The technology of the blockchain is expanding quickly and is continuing to change how we live. In fact, a lot of people think it will be just as groundbreaking as the invention of the Internet.
Understanding what precisely blockchain technology is, what are its advantages, and how to take advantage of this tremendous opportunity in your organisation are crucial because it presents a whole new set of concerns and challenges for marketers.
By eliminating centralised processes, blockchain technology aims to create an open environment that will completely transform the digital marketing sector. Blockchain technology will provide Web3 with data security and data decentralisation.
It’s a method for documenting and confirming transactions that may be used for nearly anything that needs to be trusted, including money, real estate, and medical information. Blockchain, therefore, has the ability to completely change marketing as we currently understand it.
It’s reasonable to conclude that the use of blockchain in web3 marketing is enhancing its efficiency and transparency.
Additionally, the decentralised nature of blockchain technology makes it essentially tamper-proof and can contribute to more transparent Web3 marketing.
How to get your business ready for Web3 marketing
A revolution in marketing is occurring, and we can already see the initiatives and symptoms of it. Take into account that Facebook has changed its name to Meta and is heavily funding the Metaverse. Square, a financial services platform that aids small and medium businesses, changed its name to Block in order to focus on cryptocurrency.
Web3 is the next stage in the development of the Internet, connecting people and website content through intuitive user interfaces and channels of communication.
How will the Web3 wave impact your business?
- Due to their decentralised organisational structure, businesses would be very user-centric and transparent
- The ability for users to regulate their data and privacy would be available
- Blockchain technologies would need to be modified by business owners to provide open access and data transparency
Here are some ways that can help you prep your business for the world of Web3 marketing:
Follow the trends
In this day and age, being outdated can be costly. And while there are a lot of uncertainties in the world of Web3, there are also a lot of developments. So, whenever making business decisions, keep in mind that the future is indeed here, and it’s changing.
For instance, depending on your brand, try to acquire 3D models or virtual reality stores that can represent your brand. This can help you to get ahead of the curve and stay relevant. But that’s just an example of many Web3 trends that you could add to your strategies.
NFTs
NFTs or non-fungible tokens are a piece of intellectual property (IP) that live on the blockchain. These NFTs have facilitated the concept of digital scarcity, i.e. owning an item of value online.
More and more Web2 brands are capitalising on NFTs, with some using it as a way to re-write their brand’s presence as well as their marketing manoeuvres. And thus, you can use NFTs to drive more brand awareness and extend your reach. You can also use them to promote charitable causes in a novel experience, which would drive up loyalty.
So, it should come as no surprise that companies such as Nike and Adidas are investing in NFTs. Don’t worry, though. With how open-ended Web3 is, NFTs aren’t exclusive to such giants. It could also be used by a small business like yours if approached properly.
Social media and Web3
Since its beginning, social media has become a phenomenon that is only getting bigger. In terms of user popularity, Facebook and YouTube are at the top of the list. They have transformed online communication and added numerous new tools to enhance user experience.
Exciting advances in social media marketing are brought about by Web 3. Due to Web 3’s decentralised nature, for instance, there would be decentralised apps known as dApps, and people would take control of their data instead of a centralised authority.
Conclusion
In the world of marketing, Web3 will mainly result in one thing: the consumers would be at the forefront. In other words, every marketing initiative would focus on the many preferences that consumers have.
What’s also great about Web3 is that you can use and capitalise on concepts like as NFTs as advertisement tools, hence why many companies rely on it to sell their services and products.
Yes, the market for Web3 might still be a niche for now. But with the passing of time, experts predict it’ll be the basis for everyone on the Internet, especially marketing.
We can help you be a step ahead of the pack!
Web3.0 marketing is still a bit complicated for casual marketers and business owners, there’s no denying that. Worry not, though, as our experts can help your business make the most of it. All you have to do is book a discovery call with us today!
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