NFTs allow the Internet to become Web 3.0

The founders of the Internet dream that it will open up a whole new level of access to information, communication, freedom and opportunities by connecting the world through digital networks. While there is undoubtedly more information than ever before, the initial expectations of the internet have yet to be fulfilled.

Initially there was Web 1.0

The idea that a network can connect us all is no longer new. In fact, it started back at least in the early 1900s, when scientists discovered that technology could be used to quickly transmit information from one place to another. And as computers became cheaper and technology became faster, scientists and researchers began to develop communication models and patterns of how to pass data between multiple networks. However, it wasn’t until the early 1990s, when computer scientist Tim Berners-Lee invented the World Wide Web, that the Internet took shape and began to change our daily lives.

Web 1.0, the beginning of the new, more advanced Internet

At the time, Tim Berners-Lee hoped that the World Wide Web would not only give people access to information and new ways to communicate, but would also give ordinary people more opportunities and possibilities. The hope is that everything, not just data transfer, will be faster, cheaper, and easier.

Internet, from utopia to monopoly

For a while, it seemed like the internet would deliver on its promise of equal opportunity. Whatever your background, income or ability. But sadly, the internet has been co-opted by the big technology companies that now almost own it. Google now controls almost 90% of search advertising, Facebook has almost 80% of mobile social traffic, and Amazon has about 75% of online sales. One -third of the Internet runs on Amazon’s AWS servers. If these three companies wanted to, they could cripple most of what we call the Internet.

To end Web2 .0 and start the advent of Web 3.0

Simply put, the promise of a freer and more open Internet has not been fulfilled. Web 2.0 is the story of the rise of the conquered corporations that dominated the Internet and used their power to profit from the backs of its users and content creators. But it goes deeper: these big companies not only control your content, they control your online identity. They track your every move, controlling what you see and what you do. This is something Web 3.0 expects to be straightforward.

Web.3.0, a more free and independent Internet from GAFAM

The term Web 3.0, first coined by Ethereum and Polkadot co-founder Gavin Wood, refers to a decentralized online ecosystem powered by blockchain technology. Since then, it has grown in popularity as GAFAMs continue to fail us to create the system we need, instead shaping the internet in their image.

NFTs play a role in this Web 3.0

Much of Web 3.0 is powered by NFTs in new, unprecedented and exciting ways. However, is Web 3.0 all that promised? As Facebook is rebranded as Meta and aims to control the metaverse, will Web 3.0 solve Web 2.0 problems? Or will GAFAM catch up and dominate Web3.0 like they did Web 2.0?

The Next Evolution of the Web with NFTs

Finally, if we want to make a transition to Web 3.0, it has to work for everyone, not just GAFAMs. As the ancestors of the web have shown, the purpose of the internet is not to make money, but neither can we deny the need for commerce to thrive on all platforms. History has taught us that for almost anything to work, it must be backed by the prospects of profitability. And this is where NFTs come in and hopefully bridge the gap between the prospect of Web 1.0 and the reality of Web 2.0, uniting the very best of the two worlds.

The Benefits of Blockchain Are Finally Realized With NFTs To Create A Better Internet Version

NFTs offer the possibility of commerce in the form of digital land purchases as Decentraland does. Sell ​​NFT tickets for virtual concerts, art exhibitions or digital trips, or make a unique souvenir or piece of art to sell, for example. There is no doubt that Web 3.0 should deliver on its original promise to the Internet.

NFTs and blockchains will give the average person more control over their online identity and footprint

A simple example of this is how Google and Facebook allow users to log in to thousands of different websites and apps using their Google and Facebook profiles. These companies don’t do it to make it easy for you. They do this so you can track yourself more effectively and sell ads more effectively. What if you could log in to these accounts using your own personal NFT? This will help prevent GAFAMs from knowing where your digital is.

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Thanks to NFTs, your private information is in a safe place

Your online information is stored in centralized databases, whether it’s your banking information, your health information, or just your social information. Today, NFTs no longer rely on centralized databases to authenticate and store sensitive data. Instead, transactions can be made directly between two people using smart contracts. The security of these intelligent contract -based transactions ensures that your information remains more private and secure.

NFTs make it possible to eliminate middlemen

With Web 2.0, content creators have to go through big companies like Spotify or YouTube, and because they control the distribution, the creators have no choice but to approve the terms and conditions established by these companies. Which usually gives creators just pennies for something that takes hours, months, and years to make. NFTs offer the possibility that you no longer have to accept the conditions of major broadcasting platforms. You can do whatever you want, create the conditions and get all the profits.

Who can own Web 3.0?

There is a race for dominance for Web 3.0. Even if it’s hard to predict what will happen, everyone suggests that big companies are more likely to rush into this market. Among other things, the GAFAMs are investing heavily, because they understand that this revolutionary innovation can give them huge profits if they embrace it, or replace them if they ignore it. Either way, the decentralized nature of NFTs and blockchain will definitely weaken the grip of large corporations on Web 3.0. The hope of Web 3.0 is that if a company or entity disappears, it won’t need much Internet with it.

This Web 3.0 will allow more freedom of all kinds for an individual to then decide how to manage his or her identity online, to choose how to use it and to retrieve this data for his or her own gain, and not for that. in a large company. Finally, in a world that sees a growing divide between the rich, the powerful, and everyone, it is a progressive step forward so that everyone can share equally the benefits originally promised by the Internet.

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Gregory Morat's Avatar

Gregory Morat

Students are passionate about entrepreneurship and fascinated by the technologies behind cryptos! Yes, I am convinced that the two are closely intertwined: blockchain and NFTs are transforming many sectors and presenting unprecedented opportunities.

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