The Web 3.0 Economy

In the year 2021, we have seen amazing trends this year. Stimulus Checks, Squid Game, and even $GME stock, but one trend that will undoubtedly fundamentally change the way we live our digital lives forever is the trend of Web3.0.

Starting with NFTs in March with the big news of Beeple hitting $69 million selling his NFTs, and then later in October, we have Mark Zuckerberg presenting to us this new venture for Facebook (~Meta) to be in the Metaverse, there have been many people to approach this new phenomenon to invest in the hype on levels that are similar to the dotcom bubble in the 1990s. Just like how that was the start of the commercialized Internet, Web3.0 is a new form of our ongoing digital economy. You may hear of blockchain before or have some intuitive understanding of what is a cryptocurrency, but NFTs, DeFi, Metaverse — “what?” It can be a ton to take in. But these sectors all combine to bring what we have to build out Web3.0.

In a general scope, Web3 is the successor to Web2.0, where it focused on user-generated content and digital social interaction, hint the stage we are currently in. Before sites like Facebook, Instagram, Twitter, and Youtube rose, the majority of the web was mainly reading information with limited interactions (think of things like blogs and email), this was Web1.0. Then we transitioned into interacting with the information presented to us and eventually with each other. Things were going well until most of the consumer internet began to become centralized big tech holds an unprecedented power that exceeds any government before it. Web3.0 is a new iteration that highlights decentralization and reclaiming of digital sovereignty where the data is owned by the user, and we interact in such a way not a single third party such as government, corporations, or banks can tamper.

Although this new technology is exciting, you have some who do not fully subscribe to this new economy — at least not yet…

Elon Musk’s views aside, this new phenomenon has not stopped venture capital firms, communities, and corporations from investing…