Web3 is the technology trend that is shaking the 2020s. Some may call it “the metaverse” or, more in general, “crypto” but the essence is the same: a new digital-first world, enabled by blockchains, that has just started to shape up. It is a world where users will own and use their data for their own benefit, and where creators will be able to monetize their content in many different ways.
How can businesses navigate this tectonic shift, capture value, establish new business models and defend them?
To answer these questions, let’s first have a look at some of the key distinctions that differentiate the current landscape, known as web2, from the upcoming one, web3.
Web2 key players managed to gain powerful positions in the global business arena by way of centralizing technology services and exploited “extreme” data monetization by leveraging information captured from the user itself. Often, free services are given to customers who effectively become the product being sold. This business model is enabled by a technical infrastructure that has its basis in proprietary code and data, and platforms that are not interoperable with each other.
The full article is published on https://www.mc10.xyz/businesses-opportunities-for-value-creation-in-web3/
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