Ask The Expert – What is Web3? How does it differ to Web1 and Web2?

Web3 is still a concept and as such it’s not yet fully defined.

It’s not a thing that will be released, rather it’s an emergence of several separate technologies. The cortex that makes up web3 is generally agreed to include; blockchain technology, a decentralization of databases and services such as cryptocurrency, metaverse, augmented virtual and extended reality, 3D worlds to extend and replace on-screen experiences, artificial intelligence, decision intelligence, and machine learning.

So how did we get here? Well, Web1 was the reader-only web, mainly flat, static web content that users would read. Web2 was the read/write web so we got YouTube, Facebook, and TripAdvisor. We became the creators and the publishers, and then web3 will be the truly interactive web, people will engage with the machines both in terms of the experience and underlying services to bring the technology more into our everyday lives.

For the average person, this will be a transition over a few years. There’s no big bang to witness here. AI is increasingly a part of the tech stack that powers many services we use daily albeit, invisible. NFTs and cryptocurrency are the most obvious applications in blockchain right now, albeit, they’re still quite niche. The metaverse is still a number of disjointed VR worlds, most people are familiar with games such as Fortnite.

For most marketers, it remains on a high curve, but we need to keep a close eye on the opportunities for our clients.

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