25 February,2022 04:39 PM IST | Mumbai | BrandMedia
Web3 supporters believe that it is the internet's future and that blockchain-based products will totally replace Web 2.0 in the following years.
Web 2.0 veterans argue that it's all just hype spewed by crypto enthusiasts wanting to make a quick buck and that blockchain technology is essentially limited in scope.
However, the beauty of Blockchain or web 3 trends is how they are at the crossroads of these two worlds, and the incredible chance awaits.
With the convergence of Web 2.0 and web3, blockchain's actual mass-market potential will be realized.
It's tempting to compare the amount of enthusiasm, talent, and resources invested in web3 to the early days of the internet. The parallels are clear for those of us who have spent enough time in Silicon Valley to remember.
With the two worlds colliding, Web3 is venturing into new territory. People today are compelled by a strong desire to use digital things. You won't persuade the average customer to abandon TikTok to usher in a new era of decentralization, boost the creator economy, or combat inflation.
They are unconcerned and can't afford a crypto punk or BAYC. What matters to the ordinary internet user is how they look and promote themselves on social media. NFTs will be the key to this bridge's success.
While skeptics point out that NFTs are pointless because the underlying files can be saved with a right-click. This is only a short-term issue. NFT verification will be implemented on all major social sites shortly, allowing you to connect your wallets and display your validated NFTs on your profile. Parallel to this, fingerprinting technology will allow platforms to discover and remove stolen files quickly.
The game changes once TikTok members can display and use their unique, validated NFTs in their posts because the social worth of purchasing and broadcasting NFTs skyrockets.
While it may take time for traditional social media to catch up with the security factor, the web3 space has already made it a priority. Up and coming social media platforms like The LoveChain are based on blockchain and are already experimenting with new technologies.
The prospect of setting up accounts is that a user's account can only be accessed via biometric facial recognition, retina identification, or fingerprint technology.
On the other hand, wearables are set to usher in a new era of substantial digital goods expenditure, which social media users will employ to groom their digital selves. Although most existing wearables activity in the NFT sector is connected to games and avatars, AR filters will be the killer use case that will let big audiences shift into the metaverse.
Take an instance where Kim Kardashian launched a line of personalized AR filters - facelifts, lip fillers, makeup, hair, clothes, and jewelry - each one different. If you buy one, you can wear it in your videos solely for as long as you like and then sell it when you're done.
With The LoveChain, your selfie by the beach could be an NFT, which you can then proceed to auction or sell on their marketplace. Your next new outfit could be an NFT, which is far more valuable than what you'd pick up from a high street fashion brand.
As a consumer, you are gradually moving into a whole new realm of the metaverse. NFTs are an integral part of that!
Commercialized content that has been the basis for web2 will see a revolution in the web3 space. And now the question shouldn't even be about Web2 vs. Web3. It should rather be; how soon are we getting into Web3 with the trends rapidly changing around us?
Find more information about The LoveChain platform here: https://linktr.ee/lovechain
