Talk about the collection of technologies and ideas known as Web3 often focuses on making up for the transgressions of Web 2.0 companies, which have centralized control over online experiences and mined our personal data for their own profit. Whether or not you think the future of the internet involves AR, VR, NFTs, DAOs, the multiverse, or some combination thereof, there is an immense amount of money flooding into those sectors from the usual suspects. But if the same companies and people who ran Web 2.0 are at the helm of Web3, how much can really change?
At its core, Web3 is about paying creators for their work. Music, artwork, digital fashion—any kind of intellectual property— is turned into or somehow attached to NFTs, so that the work can be certified, tracked, and transacted on a public blockchain. This infrastructure allows creators to be paid directly for their work. In this grand vision, the new internet is decentralized, with no one entity controlling it.
How that…
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Source : fastcompany.com
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