Connecting the world in web3
–– 20 Apr 2022
Web3 is not all about the crypto hype. The space has become a platform where creators, developers and entrepreneurs all over the world can unleash their creativity and potential. There is something special about web3 that encourages and drives human creativity, ideas, knowledge, and technology.
Web3 is a shift in web ideology
Web3 is inverting and rethinking the broken model of the internet (web2). What’s wrong with web2? Pretty much everything. For example, in web2, you don’t really own your data, it’s owned and controlled (kept & sold) by big companies such as Facebook, Uber, Amazon, etc. They request your private information to let you access their applications and use their services. Once your data is in their hands, it’s almost impossible to get it back. Not fair at all.
Web3, on the other hand, is built on different blockchains and based on peer-to-peer transactions that diminish the need for the intermediaries. You are the owner of your digital identity and you are the one to choose which applications to interact with and what data to share.
In web3 your digital wallet – Metamask, Phantom, and others become your identity within the ecosystem. Instead of providing your data to get access to the decentralised application, you just connect your wallet and can easily interact with any blockchain app.
Increased accessibility for trustless data using web3 technology promotes innovation and entrepreneurship — the key driving factors of the creativity boost in the ecosystem where everyone is a creator, owner, investor, and contributor.
Create, own, and earn
Web3 is growing fast. Every single day there appears new decentralised apps and platforms. DeFi (decentralised finance) dapps such as UniSwap, Chainlink and MakerDAO let you keep and manage your digital assets. Play-to-earn games give players the opportunity to generate crypto rewards for their skills and efforts. Data economy dapps, like Swash and Tapmydata, let people get earnings and control over their personal data.
One of the key examples of web3 technologies serving the creative economy is the recent rise of non-fungible tokens (NFTs). The NFT industry continues to explode bringing in over $23 billion in 2021 alone and it’s not going to stop.
The NFT market is a great way for digital artists to create, transfer and monetise their art on different NFT marketplaces such as Opensea, LooksRare and Rarible. These platforms provide the tools required to create and trade NFTs and are critical to the success of the NFT movement.
We can see that web2 giants are also trying to jump into the web3 bandwagon. Recently Mark Zuckerberg, the founder of Meta, announced that the company is working on its native NFT marketplace. However, he plans to charge people 47% on all NFTs sold in his metaverse. Just to compare, now creators pay 2.5% of every transaction that happens on OpenSea. Good luck with that, Meta!
The future of web3: explore, engage and earn
Web3 is great, however, we must admit that it is not ideal. It is still in development and we can see that it’s still far from the mass adoption.
Users find it complicated to navigate through the space. It is easy to get scammed, phished, or defrauded when you don’t know the basic web3 security rules and don’t do your research before investing into a project.
Web3 native projects and creators, on the other hand, are facing different problems. They often struggle to gather community, those like-minded passionate people who can drive the project to the moon. The space is full of bots and it makes it much harder to find real people who are interested in what you do.
At Tapmydata, we are facing these problems as well. And we want to change that. Now we are working on solutions that will help both users and brands connect securely and efficiently in the web3 space. Explore, engage, and earn. It’s as simple as that. And its coming soon.
So keep an eye on our upcoming announcements to be the first one who discovers our new product.
To sum it up
- Web3 is a new era of communication that represents two major shifts for society: democratisation of data and increased focus on creators and digital ownership.
- We are entering an exciting time, full of new disruptive concepts: digital ownership, decentralisation, a focus on creators, and more control over our digital selves.
- If we move fast, use the right tools, and follow the right people and projects who approach web3 in an ethical way, we can be creators of the next era of the internet which is more human-oriented and kinder than the previous one.
- Tapmydata is building a set of tools that will help users and brands engage with each other faster, better, and in a more rewarding way. Join our Discord to get all the announcements first.