People have been eager to try out novel means of communications ever since the dial-up era of the Internet. Each iteration of the Internet has given its users new tools for self-expression and social interaction, from the static pages of Web 1.0 to the interactive multimedia features of Web 2.0.

Web3 is expected to be the best version of the Internet to date. Still, it has already proven somewhat divisive, with some people loving the idea of a decentralized entity and others being a bit more skeptical. But what is Web3, and how might it influence your life?

We’re inquisitive about how this will influence our social media habits. Briefly put, Web3 will usher in a new era of social networks that value the contributions of individual creators and place community needs ahead of those of gatekeepers.

What is Web3?

When we talk about the “Web3,” we’re referring to a set of ideas and visions for the future of decentralization in which user-generated, ad-free, and self-monetized content takes center stage.

In light of a rethought social media paradigm, the creator economy stands to gain significantly from Web3, even though it will disrupt many established Web2-based business models.

In the current internet iteration, content creators are often at the mercy of the platforms on which they disseminate their work. Unjustified content censorship, content demonetization, and platform removal are just some of the problems that can arise from this.

How Web3 is Impacting the Traditional Ways

In contrast to the centralized social networks dominated in Web 2.0, Web 3.0 networks will be entirely decentralized and community-owned. Because of this, network participants will have a voice in their management and governance and receive a portion of any value generated by the networks. It’s a radical break from Web 1.0 and Web 2.0’s hierarchies, putting control back in the hands of individual users rather than large corporations.

In practice, this means that users on a decentralized platform similar to Facebook or YouTube will have more say over their online personas while also receiving financial compensation for their contributions.

How Web3 is Changing Social Media

The third generation of the World Wide Web will completely transform the way we interact with one another. Using blockchain technology, Web3 is community-driven, ad-free, and self-monetized; rather than a few powerful companies controlling all content and acting as gatekeepers, it is a network of networks anyone can join and contribute to. Virtual reality, augmented reality, gaming, cryptocurrency, social media, and other technologies have merged to form the Metaverse or Multiverse. And unlike the current social media landscape, where users have no say, no single entity will have control over our data and be allowed to exploit it with web3 social media app development. Tokens can be used to incentivize users to use the Internet and give them a voice in network governance, making it a more democratic system.

Get back the “Social” in “Social Media” Apps

As time goes on, the Internet and social media will develop beyond our two-dimensional interaction and into a fully immersive experience that blends the real and the virtual. VR allows for a more immersive 3D experience. We can go on a virtual kayaking trip with friends without leaving the house or read each other’s body language while chatting and laughing with strangers at the AltSpace firepit. Our minds are fascinating organs; in this case, you could be fooled into thinking that the warmth you’re feeling is real.

Web3 Social Networks vs. Existing Networks

Since the introduction of Web3, there has been a noticeable change in how popular brands interact with social media. Social media publishing by brands was at the heart of Web2’s strategy.

Interactions between the community and brand regarding content could occur periodically. Community members who followed the brand on social media barely interacted with the account.

You aren’t using social media if you aren’t interacting with your brand. Ignore the hype; it’s just the media. In preparation for Web3, traditional forms of content will be marginalized.

In Web3, the brand-community and community-member conversations are the center stages.

There will be a new opportunity for brands to interact personally with their target audience and serve as a catalyst for conversation within their community.

Benefits of Web 3.0

  • It allows you to manage your privacy and information on the Internet.
  • You will be provided with a cryptographically secure method of verifying the data’s integrity.
  • Information stored using blockchain technology is safe and impenetrable by hackers.

Returning Authority to the Artistic Community

You can put more control in the hands of the user by purchasing land in Decentraland or creating and selling unique jewelry pieces as NFTs.

Let’s take a cue from the digital natives of today’s generation. Spending real money on virtual goods like Roblox tokens and avatar clothes is normal and natural for them. They won’t have to stretch their imagination to imagine Trick or Treating in the metaverse next year.

Keep in mind that Web3 is merely the Internet’s third wave. Plus, the future of virtual reality is bright with promise for savvy users thanks to the immersive experience they will soon be able to enjoy.