The era of web 2.0 is gradually fizzling out, it definitely dominated in its time but innovation is upon us and who can turn the hands of change? Not me! As much as we loved most of what web 2.0 had to offer because there were dissatisfactions in certain areas of which will be discussed some other time, we are ready to move on to greater things as individuals and brands both.
Brands get so much exposure via technology and Web 3.0 guarantees technologies that could change everything about branding. It opens possibilities that every brand could build an open structure for creative, collaborative, and user-centric space!
According to Slava Podmurnyi in his article, Web 3.0: How To Accelerate Your Brand’s Growth In A New Reality, ‘Netflix implemented Semantic Web principles using the RDF, OWL and RDFS frameworks and the core Web 3.0 technology allowed the company to share content across both websites and apps on wide-ranging devices like smartphones, tablets and PCs, all at the users’ convenience. This revolution expanded the Netflix platform’s audience — just compare Netflix’s annual revenue of $997 million in 2006 to $30 billion in 2021’.
Core Web 3.0 features such as decentralization technology, will give users much greater control over their personal information, limit the practice of data mining, which refers to information gathered from web users without their consent or compensation. Brands can get rid of middlemen and give their customers more freedom and privacy. This consequently reduces operating costs and increases audience interest.
Smart contracts help users to get a service without considering possible scams. After implementing smart contracts, brands can gain trust, become the preferred choice, and ultimately gain a larger user base and loyal customers. Web 3.0 herald user experience, offering users immersion through avatars in a 3D virtual universe that will help brands attract more consumers to their products and services, and brands that care about building a community that via a blockchain-powered, user-aggregated platform dedicated to nurturing loyal customers and driving strong brand awareness.
Another amazing feature web 3.0 promises is that, like NFT (nonfungible token), anything created by the brand is automatically copyrighted by said brand. Brand assets are not changeable and brands maintain full ownership rights.
