Technology has always had exponential growth. One innovation unlocks multiple other innovations that each unlock even more technological developments. We’ve been adapting to Cryptocurrencies for a while now, with Bitcoin and Ethereum — among others — circulating in the mainstream. But suddenly people are banking on blockchain-related innovations, the Metaverse, NFT’s, and Tokens. They’re all part of web3.0 which in turn is a whole new way of using the internet. It’s no longer consuming and creating content, it’s owning bits and pieces of you-name-it. The gatekeepers and middlemen will be replaced by content creators, certificate holders, and whatever else is coming our way. The power play of big brands pushing products into the market is rapidly shifting.
The power play is shifting
A recent revolution we’ve witnessed was the Platform Revolution. It offered people a managed place to consume content, produce content and collaborate. Many organizations jumped into the gap between supply and demand, taking a cut of the transaction. It’s been leveraged in a way that created a play for platforms, making them a necessity for most transactions we do on the internet. Many people are dependant on the services of these platforms, like people running their entire online store on a single platform like Shopify or WooCommerce. It’s making the store owners completely dependant of the particular platform and its owners. If they decided to end their business entirely, you lose your livelihood. This power play sits on top of web2.0, a.k.a. the internet as we now know it.
Web 3.0 is changing the power play and putting the power back in the hands of the creators and consumers. At least, that what it’s aiming for. I’ve had a talk with Funs Jacobs about these changes and what’s there to come.