Deloitte points out that Web 3.0 is transforming consumers into members of communities.
Web 3.0 is the most up-to-date and advanced edition of the Internet today. In web 3.0, web pages and applications are much more intelligent, and can process information in a similar way to humans, thanks to technologies such as Big Data, or Machine Learning.
Web 3.0 presents the Internet in Blockchain technology, in which the storage of consumer data is done in a decentralized way. Thus, the use of such data by companies is more transparent; this supposedly protects the data from breaches.
Today, there are some applications of this type in their initial phase of development, but web 3.0 is not yet implemented at a general level.
Deloitte’s latest analysis suggests that Web 3.0 is mature enough to engage and empower more industries, which could spur further adoption of Blockchain technology. It offered examples of companies such as Dapper Labs, CryptoKitties, and NBA Top Shot, which are maturing Web 3.0.
In this regard, Ridhima Ahuja Kahn, vice president of business development at Dapper Labs and former partner at Andreessen Horowitz, explained the following:
“Web3 is going to impact every single sector and industry, it’s an opportunity for companies to jump in early and make sure they’re incorporating it into their broader strategy. Sports and NFTs are the tips of the iceberg. We want to get billions of people on Blockchain. You do that by clearly communicating benefits to consumers.”
Deloitte details that Blockchain-backed business offerings initially had a high entry bar. Users had to be knowledgeable experts on the subject; however, this is coming to an end, as the report identifies Dapper Labs as responsible for “making the Blockchain easy” through user-friendly interfaces and memorable experiences.
Brands massively adopt Web 3.0
Web 3.0 went from consolidated projects to alliances with large companies, such as FIFA, which revealed that it would include the Qatar 2022 World Cup in Web 3.0. The analysis details that Blockchain is transforming consumers into members of communities.
“We want a Web 3.0 wallet in every pocket.” Our goal is to bring Blockchain to new audiences and sectors so everyone can benefit from the network effects. The actions that developers and creators are taking right now will only worsen in the years to come.”
A study by Streamlabs and Stream Hatchet notes that Twitch had an 83% year-over-year increase in viewership when the pandemic hit, with more than 5 billion hours of content viewed, in the second quarter of 2020 alone.
Meanwhile, DappRadar highlights that Web 3.0-based games and Metaverse projects have raised $748 million since August 1, 2022. This marked an increase of 135%, compared to July, demonstrating the growing demand. of this sector in particular.
By Audy Castaneda
