Web 3.0: What is it, and how will it affect your business?

Web 3.0

We’ve all heard of Fortnite, right? The fun online game all the cool kids are talking about? Now just imagine if you could explore the lush island for real. If there was a way to blur the lines between fantasy and reality and experience the game as though you were magically dropped into its world.  

Think about it – you could make best friends with people across the globe without buying a single plane ticket or attend concerts of your favourite pop stars from the comfort of your couch. All of this can be possible thanks to Web 3.0 – the next generation of the internet. 

So how can your business benefit from this big change? Read on to find out. 

What is Web 3.0?

Web 3.0 is the third generation of the internet. Web 1.0, the earliest version of the world wide web, was launched in the 90s and consisted of read-only content. 

In 2004, Web 2.0 was released upon the world. This version threw out the old, boring static web pages and introduced us to the wonderful world of social media. With Web 2.0, user-generated content (UGC) is king. People can build connections with each other by sharing their own photos, videos and text. Life is good. 

But Web 3.0 takes the internet to a whole other level. Don’t just sit in front of a screen – be IN the screen. Explore the web as though you are wandering through the streets of a new city. Need a new dress for that party this weekend? Don’t scroll for hours on your phone. Walk through an online store and pick your new outfit straight from the rack – all while you stay tucked up in bed. 

Although Web 3.0 is just in the investment phase at the moment, there’s no denying that this upgrade is bound to change the way businesses operate and sell to their target audiences.    

Web 3.0

 What are the benefits of Web 3.0 for your business?

  • Third parties won’t be needed anymore. Users won’t need to use third-party service providers like banks. So there’s no middle man – saving you money and keeping you competitive within your market. 
  • More security. As a business, you’ve got a lot of staff and customer information, as well as financial and security data that needs to be kept safe and sound. Good news! Web 3.0 can’t be altered or manipulated in any way, making your data impossible to hack. 
  • Better relationships with customers. With Web 3.0, every customer transaction with your business is visibly recorded. Take advantage of this transparency to create trust with your buyers. And the best part? Because Web 3.0 is so secure, your customers can have confidence that you’ll never modify their information.

How will Web 3.0 affect your business? 

Protect your business’ data 

Remember when all your business data was stored in one place? Think of all the time you’ve wasted backing up information on various hard drives and folders. Blurgh. 

Web 3.0 stores all your important data on a network of computers provided by end-users. This means that your information is no longer in one spot – like an expensive server or data centre. It’s a hacker’s worst nightmare come true.

Faster transaction times

Are you still using money to buy things? That is so 2006. Web 3.0 uses cryptocurrencies, like bitcoin and Ethereum (ETH), to make transactions in real-time. So no more waiting for days for international purchases to go through. Now you can watch your transactions process in minutes – or even seconds.  

More secure social media 

Back in the old days, social media platforms such as Facebook or Instagram owned their users’ information. Web 3.0 returns the ownership of their personal data to the users themselves. 

So how does that affect your business? It means that people have the ultimate control over who or what has their private information and if it can be sold for marketing purposes. Fashion, tech, music and food-fast companies will be the most affected. 

Web 3.0

Working with both digital agencies and businesses, NINKI Content Marketing offers content marketing, strategy and training services that aid your business growth. Book a discovery call with the NINKI team here to learn more about how we can help you.

Written By Kate