If you’ve heard anything about Web3, also called Web 3.0, you might have heard certain words being thrown, such as “decentralization,” “digital self-sovereignty” and “user-specific”.
But what do those things even mean?
According to Shaun Heng, vice president and chief of staff at CoinMarketCap, “The ownership element is the key difference between Web 2.0, the current iteration of the internet, and web3.” Shaun said that, “we are limited to reading and writing within centralized networks, i.e., Google, Facebook, Twitter, and so forth. Those companies own their part of the internet, and we use their websites in order to read and write on the internet. With web3, we will be able to build and govern our own decentralized networks on the internet. This allows for the possibility of autonomous, self-governed networks that will be completely democratized, without leaders. In fact, we’re already seeing the first iteration of such networks in DAOs, or decentralized autonomous organizations.”
But what does this upcoming form of the internet mean for digital marketers?
There will be a number of ways that Web3 will impact marketers. According to Gartner:
- Data collection and privacy will change
- User experience will change
- Marketing strategies will need to be updated
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