What is Web 3.0? What is the Impact of Web3 Marketing on Business?
For any business to thrive, it needs to stay up to date with marketing trends and changes in the latest technology. Technology development is interlinked with how people do business since nobody can afford their business to become obsolete. Web 3.0 is the future of the World Wide Web and Web3 Marketing will have a huge impact on how businesses are run everywhere.
What is Web 3.0 and how is it different from Web 1.0 and Web 2.0?
Web 3.0 is the new Iteration of the World Wide Web and is the third generation of the Internet. To understand more about Web 3.0, we need to know how it is different from Web 1.0 and 2.0.
The first generation of the World Wide Web was Web 1.0, which started around 1994 and ended in the 2000s. Web 1.0 consisted of basic web pages or static websites that were in read-only format.
The second wave of the Internet came with Web 2.0. Web 2.0 focused primarily on user-generated content and user experience (UX). The social media generation completely revolutionized the Internet. It changed how people communicated and used information on the Internet. There was a social media boom with websites and apps such as Facebook, Youtube, Twitter, and Instagram. Web 2.0 had a centralized network and relied on interconnected computers.
Web 3.0 is the new generation of the World Wide Web. It can be identified by its foundations in the Semantic Web, Artificial Intelligence, and decentralization. It is built by developing the social websites of Web 2.0 and the information provided by Web 1.0. Web 3.0 provides us with the creation of virtual worlds through websites and gives users an interactive experience when they want to purchase something from the Internet. Online virtual shopping malls can be taken as an example here.
On the Semantic Web, we have the opportunity to utilize and share information in various ways, allowing it to protect our privacy and help computers and people cooperate.
Web 3.0 Marketing and its Impact on Business
Web 3.0 marketing has changed the way people used the Internet to run their businesses. Businesses can not afford to be left behind on trends and changes in technology. Marketing no longer just consists of websites and their Search Engine Optimization (SEO). Web 3.0 Marketing is a concept that follows trends on the Internet and the latest technology.
With access to various sources of information, marketers will be able to target their ads to their consumers. Web 3.0 Marketing provides marketers with efficient techniques and strategies to influence purchases using interactive advertising opportunities.
The Characteristics of Web 3.0 and Web 3.0 Marketing
Web 3.0 features the Semantic Web, Artificial Intelligence, Decentralization, 3D graphics, and Blockchain. These are discussed in detail below.
- Semantic Web: The Semantic Web allows people and computers to communicate more reliably by utilizing metadata to present content to the computer in a machine-readable manner.
- Artificial Intelligence: Web 3.0 uses Natural Language Processing (NLP) technology. NLP aids computers to understand and translate language input by humans. The NLP technology in Web 3.0 accommodates a better understanding of data in human language which results in faster and more accurate responses from the computer.
- Decentralization: Web 3.0 is also called the Semantic web or the Decentralized web. In web 2.0, information was stored in a single or specific location and accessed using the HTTP protocol. However, in Web 3.0, information is held in different locations at the same time. This means that there is no "center" of data storage. It does not depend on only one location.
The benefits of decentralization
1. Intermediates are not required anymore.
Thanks to Blockchain technology, users have complete control over their data and do not have to use any intermediates to finish their transactions. They can directly exchange their values without the need for a 3rd party. Users completely own their data which means there are fewer risks of data being stolen or forged.
2. No more server failure risks.
Server failures are a huge problem for Web 2.0 because the data is held in centralized servers. With decentralization, users now own their data and have maximum privacy. They do not have to depend on centralized web services anymore.
3. No external authorization.
Users do not have to share their data with third parties anymore, which gives them more security and privacy for their data. Users do not need any external authorization anymore to access their data.
4. Security from Data Theft
If your data was centralized in one place, it was prone to data theft sooner or later. With decentralization, we have more security from data theft.
- 3D graphics: Three-dimensional designs are more eye-catching and easy to understand than two-dimensional designs. In web 3.0, applications such as virtual reality (VR) and augmented reality (AR) use 3D design.
- Blockchain technology and Web 3.0 Marketing: Blockchain is a technology that provides users with authorization and transaction history while exchanging valuables. This, in turn, will help marketing in Web 3.0 become more efficient and accurate. This is a revolutionary change in marketing. As Blockchain technology eliminates centralized systems, it provides more data security and gives the digital marketing industry an open and transparent environment.
What impact does Web 3.0 marketing have on business?
As the Web 3.0 wave takes over, businesses will have to adjust to Blockchain technology for the security and access to data and its transparency. Users will have complete ownership of their data and privacy. Because of decentralization, businesses will have to be more user-friendly. They will have to acquire 3D assets according to their industry. These will help the business in the long run as it steps towards Web 3.0 marketing development.
There are no concrete guidelines to follow in this new digital marketing age. However, businesses should focus more on content creation as a means to connect and communicate with their customers. NFTs are now considered important content for digital marketing. Including your business in NFT communities will help it stay relevant.
Web 3.0 marketing focuses on maintaining good customer relations and communication. It gives the business a more user-centric approach.