The web, as I envisaged it, we have not seen it yet. The future is still so much bigger than the past. “Tim Berners-Lee”
The Web3 ecosystem has taken the world by storm in the last couple of years. It has shown a ray of hope to control the user-generated content by users themselves.
Web3 refers to the next phase of the Internet—one that’s decentralized, blockchain-powered, and more reliant on peer-to-peer interactions.
It offers multiple benefits to users, like anti-monopoly, improved privacy, secure network, data ownership, and interoperability.
According to a recent report, the market size of web3 is going to reach 81.5 billion in 2030.
As Web3 emerges from its infancy, we’re already seeing some interesting monetization trends start to take shape that you’ll want to keep an eye on to stay ahead of the curve.
While there are plenty of ways to do this, we see some trends emerging in the next few years, like tokenization, data ownership, and privacy.
Today in this blog, we will see some more Web3 monetization trends so that you can understand how you are going to benefit from the new generation of the Internet.
But before that, I would like to take you through the evolution of the Internet over the years to understand the significance of Web 3.0.
Let’s Move in!
Evolution of the Internet
In 1989, when Berners-Lee introduced to web 1.0, we all were surprised to see that things could be digitized. Most internet users at that time were captivated by the novelty of features like email and real-time news retrieval.
Moreover, content creation was still in its infancy, and users had little opportunity for interactive apps, although this improved as online banking and trading became popular later on.
As the Internet grew, we saw Web 2.0 coming in and disrupting the industries. With Web 2.0, we saw an increase in interactivity, social connectivity, and user-generated content.
Web 2.0 has made it possible that user-generated content can be viewed by thousands of people worldwide in a wink. This unprecedented reach paved the way for a content explosion in recent years.
Web 2.0 saw tremendous growth when key innovations like mobile internet access and social networks existed. After that, we could easily see the dominance of apps like Facebook, Instagram, Twitter, Uber, etc.
These apps accelerated the growth of the gig economy, allowing millions of people to earn money part-time or full-time by renting their homes and selling goods and services online.
Now, we are going to witness the latest version of the Internet, known as Web 3.0. Web 3.0 has a vast potential to be as disruptive as Web 2.0 is. It is built upon the core concepts of decentralization, awesome user utility, and content ownership.
Important Key Features of Web 3.0
Like the Internet, the Semantic Web will be as decentralized as possible. Such Web-like systems render much excitement at every level, from major corporations to individual users, and give benefits that are hard or impossible to predict in advance.
Decentralization is the essential feature of Web3.0. In Web 2.0, computers use HTTP as unique web addresses to extract information stored at a fixed location, usually on a single server. However, in Web 3.0, information will not be stored on a single server as it would depend on the location. This way, it would be decentralized, and the content creator will have greater control over the content.
- Connectivity and Ubiquity
In Web 3.0, content and information are more connected and ubiquitous and can easily be accessed by multiple apps regarding any location. Web 2.0 is also ubiquitous in several ways, but the rising of IoT devices will take it to the next level in Web 3.0.
- Machine Learning and Artificial Intelligence
In Web 3.0, computers can understand information similar to humans through Semantic Web concepts and natural language processing (NLP). Web 3.0 will also use machine learning, a branch of artificial intelligence (AI) that uses data and algorithms to imitate how people comprehend.
- Content Ownership
The major shift Web 3.0 is going to bring is content ownership. Whatever content the user generates, he will have the authority for the whole content. Web 3.0, when integrated with blockchain technology, will give rise to totally decentralized social media platforms where the content shared is owned by users, not the platform.
- Trustless and Permissionless
Apart from content ownership, Web 3.0 offers ease to interact directly without going through a trusted intermediary. Users can also access the networks without requiring the permission of governing authority.
Let me put before you the graph to better understand the evolution of the Internet over the years and the differences between Web 1.0, Web 2.0, and Web 3.0.
|Points to consider||Web 1.0||Web 2.0||Web 3.0|
|Existence||1989||2005||In near future|
|Definition||The Hypertext Web||The Social Web||The Semantic Web|
|Medium||Static Text||Interactive Content||Virtual Economies|
Popular Use Cases of Web3 that You Should Know
The characteristic traits of web3 prove its capabilities for transforming the internet experience for users.
You can take a look through the following use cases of web3 to understand how the concept supports many applications.
- Gaming Applications
Game apps using cutting-edge technologies like NFTs, blockchain, and other high-end resources are engaging. With web 3.0, You can refine the gaming pleasure by enabling users to sell quickly and own and develop in-game items to earn revenue.
Moreover, web3 games like Decentraland and Axie Infinity will be worth observing. Both these games are already allowing users to earn revenue through several options. Web 3.0 will offer gamers multiple options to make money in various games.
Metaverse is a simulated online platform that integrates advanced technologies like Augmented Reality (AR), Virtual Reality (VR), WebGL, and blockchain. This immersive platform is evolving as one of the significant web 3 use cases.
The web3 ecosystem supports hyper-realistic 3D spaces and graphical interfaces, helping your Web 3.0 project offer a more natural and vivid navigation user experience. Leveraging Web 3.0’s metaverse and 3D capabilities, we design immersive games, e-commerce shops and NFT marketplaces based on enterprise demand.
- Decentralized Cloud Storage
As one of the top use cases of web3, DeFi leverages web3 attributes to improve its existing infrastructure and associated capabilities. Enterprises can combine the DeFi technology with the open and powerful web3 ecosystem to build futuristic DeFi solutions and applications and put them to use.
With web 3.0, data management is getting relatively simplified. It is apparent with the emergence of the Storj application. It is an open-source, decentralized, and trustless cloud platform that grants users the ownership of data control.
Top Web3 Monetization Trends To Look Out For in 2022
Web 3.0 has lots of potential to drive tremendous growth as a third-generation internet. Businesses and individuals will have more opportunities to earn revenue. Below are some of the significant monetization trends that Web 3.0 has to offer us.
- Watch to Earn
Watch to earn is one of the most popular web3 monetization trends where people can earn money watching videos or ads. They will earn cryptos which can later be exchanged in any currency of user choice.
This way, web3 provides an amazing opportunity to earn by watching videos that were not possible in Web 2.0. Websites like ySense and Swagbucks offer users the opportunity to earn by watching videos and ads.
- Move to Earn
Earlier, when people used to run and jog, their data used to be shared with companies by third parties. Web 3 will remove such intermediaries and provide users the control of data. Now they will have the authority to monetize data.
Hence users will possess ownership and share fitness data whenever and wherever they want. Apps like Sweatcoin and StepBet also enable users to earn money just by walking.
- Play to Earn
Several companies are there that enable users to play the games and earn cryptos. Users can play as long as they want and earn cryptos accordingly. Later on, they can exchange the cryptos with their preferred currency.
Earlier users did not have the privilege that they were playing and earning money. However, Web3 has the potential to do so. Games like Qureka and Paytm First Games give users the opportunity to earn by playing.
- Learn to Earn
When users learn something on the Internet, they will be able to earn money. The more they spend time on the Internet while reading, they will earn cryptos. This way, learning will pave the way for you to earn money.
- Answer to Earn
This trend is significantly rising, where users will answer on a platform and get money in return. This is going to be possible only in Web 3.0. PrestoExperts and Wonder are some of the well-known online platforms where people can earn by answering the questions.
- Code to Earn
With the rise of mobile applications, coding has become an essential skill. Users can easily earn while writing code on several platforms like GitHub and Stackoverflow.
- Refer to Earn
You must have heard about affiliate marketing, where you refer someone to buy a product and get a commission in return. This trend is going to see a huge rise in Web 3.0.
As discussed above, Web3.0 monetization trends are more apparent and will pave the way for people to earn money in several ways, including watching videos, playing games, answering questions, coding, etc.
Web3.0 is growing and offers ample opportunities for businesses and individuals to generate huge income. This version of the internet has more thriving potential than Web2.0; rightly so, it has garnered the attention of young entrepreneurs, enterprises, and content creators.
I hope you have found the blog insightful and acquired some relevant info regarding Web 3.0 and its monetization trends in the future.
Thanks for reading!