Heralded as the future of the internet, Web 3.0 is a new frontier for consumers and businesses alike. A new wild west for the digital age, driven by transparency and based on blockchain technology, the decentralised evolution will have a major impact on businesses.
And in may feel like the future is already here. From Estee Lauder-backing the first Metaverse Fashion Week on Decentraland to make-up specialists Lottie London and Korea's luxury brand Hera hosting avatar-based press launches in the digital sphere.
But what does Web 3.0 really mean and how will it benefit brands? Here, Rebecca Bezzina, MD at innovation agency R/GA London, provides a guide to the pioneering internet technology.
What is Web 3.0?
In short, Web 3.0 is the next generation of the internet powered by blockchain technology. It will allow a more immersive internet experience, driven by tokenisation and decentralisation.
Governed by peer-to-peer technology, it has the potential to shift the balance of control (of the internet) from big data Web 2.0 corporations towards everyday internet users.
How does it compare to Web 2.0 and what are its defining features?
Let's step back and talk about