Extract

To understand Web3, we first have to look back at its predecessors: Web1 and Web2.

Web1, or the first iteration of the internet, was largely ‘read-only’. It was like a digital library -users could access information, but interaction and contribution were limited.

Web2 changed this, evolving into a ‘read-write’ space where users could not only consumecontent, but also interact with it and create their own. Think social media sites, blogs, and e-commerce platforms where you can like, comment, share, and publish your own content.

Now, we’re moving into the era of Web3, also known as the decentralized web. If Web1 is adigital library and Web2 is an interactive workshop, Web3 is like a bustling marketplace. In thismarketplace, instead of just interacting with content, users can own, trade, and profit from it.

In this new Web3 era, identity and ownership become paramount. DLT technologies likeblockchain will provide the “digital passports” or certificates for participants in the metaverses orany Web3 environment. Whether it’s an AI producing a unique piece of digital art, or a userbuying virtual real estate or any kind of digital asset in an XR platform, DLT will ensure eachtransaction is securely recorded and the rights of each participant are protected. This creates alevel of trust and security that will fuels the growth and diversity of the digital economy.

Web3 can be seen as a synergistic ecosystem where blockchain, XR, and AI each play crucialroles. 

As an artist or creative in this space, you have unprecedented opportunities to innovate,monetize your work, and engage with your audience.