Web 3.0. There has been plenty of buzz around the next stage in the evolution of the World Wide Web, but what is it and how will it impact what people do?
As the name implies, Web 3.0 is the third incarnation of the internet and will have a dramatic effect on the way the online space operates.
When Web 1.0 was launched during the 1990s, people were able to read websites but rarely interacted with them. They were a place for finding information.
Web 2.0 moved things on significantly by establishing an interactive and social platform where users could collaborate with each other.
Over the next few years, Web 3.0 will significantly change the internet as emerging technologies converge to create a new way of working.
A great example of this will be the impact the revised landscape has on digital marketing agency operations, with the sector set to undergo radical changes.
Improved Wi-Fi connectivity will be a major driving force behind Web 3.0, with 5G technology set to power a whole new online experience.
Read on as we identify some of the other key elements that will contribute to Web 3.0 and the impact they will have on the digital marketing industry.
The tech behind Web 3.0
In addition to enhanced Wi-Fi capabilities, several other emerging technologies will converge to facilitate the growth of Web 3.0.
Augmented and virtual reality (AR/VR) will finally cross into the mainstream, while artificial intelligence and machine learning (AI/ML) will become commonplace.
Internet of Things (IoT) devices and distributed ledger technology such as blockchain will also be widely adopted over the coming years.
Web 3.0 will create a fairer internet by allowing individuals and businesses to truly control who profits from their data and content.
Web 3.0 & digital marketing in action
From a digital marketing perspective, Web 3.0 will undoubtedly transform how industries across the spectrum engage with consumers.
The music industry is a great example of how marketers are already utilising Web 3.0 technology elements to change how the sector operates.
The days where a band could simply drop a new record and the cash rolled in are long gone – the artists that think outside of the box are the ones who will be most successful.
Digital marketing strategies in the music sector are increasingly becoming interactive, and this trend will continue throughout the life cycle of Web 3.0.
Augmented reality and gamification are amongst the technologies that have been adopted to change the way the music industry is marketed.
The former has manifested itself in several ways, including interactive merchandise designs and face filters for fans on social media platforms.
Gamification is increasingly being seen in video and email content, thus increasing engagement with music fans through interactivity.
Future trends in marketing in Web 3.0 era
It does not seem too long ago that social media was dismissed as a passing fad by people who failed to recognise the impact it could have on daily life.
The Web 3.0 era will undoubtedly feature more innovations that divide public opinion when they are first suggested to be the next big thing.
Non-fungible tokens (NFTs) are amongst the latest technologies that have been forecast to have a major impact on digital marketing in the next few years.
In simple terms, an NFT is a cryptographic asset created using blockchain technology. They have unique metadata and identification codes that distinguish one NFT from another.
NFTs allow marketers to increase brand awareness, create unique brand experiences, encourage interaction and ultimately help to drive sales revenues.
Using the music industry again as an example, The Kings of Leon became the first act to launch an album in the form of an NFT.
‘When You See Yourself’ was released on all the traditional online music platforms, but also as a limited edition NFT for a two-week period.
No more album tokens were created after this, making the tokens a tradeable collectible that may rise significantly in value in the future.
Given the success the band had with the NFTs, it seems certain that the technology will crossover into other mainstream genres over the next few years.
NFTs will open up a plethora of new avenues for brands to interact with their audience and create memorable experiences for them.
Web 3.0 & marketing – The final word
The interactive and social nature of Web 2.0 changed how consumers engage with brands and this trend will continue into Web 3.0.
People are already discerning about the brands they support, particularly with regards to how their ethos aligns with their own view of the world.
It is no longer enough for companies to say they support a cause – consumers want to see tangible evidence of brands adhering by this philosophy in everything they do.
Web 3.0 will provide the perfect platform for businesses who are comfortable enough in their own skin to truly embrace this culture of global citizenship.
By Michael Black