WTF Series - WTF is Web3?
First Lesson in Learning the Next Iteration of the Internet
WTF is Web3 Transcript
What is Web 1.0 and Web 2.0
Why is Web 3.0
Why Do I Want This?
Hey Friends, it’s Kristina from Viageur and we’re excited to start a new series with you called “WTF” - we’re going to explore the basics of Web 3.0, cryptocurrency, tokens, blockchain, and the metaverse. We’ll keep these videos short and to the point and if you want to check out more information, check out wannalearnweb3.xyz.
This week’s topic is the big overarching question - “WTF is Web3?”
Web3 or Web 3.0 has been thrown around so many times in different circles. “The internet’s future is Web3” but you might be wondering:
“If there’s a Web 3.0, does that mean there are previous versions of the internet?”
“What’s wrong with the internet we have now? What’s different about Web3?
“Why do I care about this?”
Let’s tackle those one by one.
What the #3!! happened to Web 1.0 and Web 2.0? What’s wrong with the internet?
Web 1.0 was the first version of the internet. Think more Netscape, and Internet Explorer. Ugh, yeah I shuddered too. It was the internet where it was just finding out how it could function outside of a university or research lab where it was first developed. I’m sure you have seen that infamous clip from the Today show, “What is the internet?” Cringe.
If Web 1.0 is analogous to grade school, then Web 2.0 is high school. Web2 is the internet most of us know today - interactive and social web. For the first time, anyone could create any type of content, upload a video or photos, write and publish books, comment on people’s posts and allow millions of people to see it. Web2 is about sharing, seeking likes, gaining popularity that you hope pays off.
It then became an internet dominated by companies that provide “free services” but in actuality, it’s in exchange for your personal data.
The Cool Kids at the high school (the Facebooks, Googles, Twitters) of Web2 have run largely on the idea that users are the goods and everything they know about users is sold to advertisers. The Cool Kids made a killing keeping us entertained with other users’ content. But not everyone gets paid for their part in their business. Like your viral content is seen by over a million people is earning you $40 while it earned the Cool Kids another million dollars.
The teenagers that they have tested the limits of what they can get away with and made millions of dollars holding all user data without giving up too many options. It’s either use it or don’t.
Okay, so what’s different about Web3?
Web3 is like adulthood and college. And it’s learned some new philosophy. The internet is realizing that everybody should the right to their own information and data. Everyone should have the right to rule over their own content. No one person or company should have control over all data, internet usage and the overall community should come together to set its own rules or protocols. That’s Web3.
That ethos or general philosophy of Web3 is that “We All Gonna Make It” or WAGMI.
It’s that the community should be holders of data (blockchain), that we collectively put value directly towards projects we believe in (cryptocurrency, NFTs, and tokens). That we don’t need to share our personal data to get valuable services.
Now, everything is not perfect in Web3 - there is still a lot of growing pains to figure out - how big can it be? Will everyone like it? How can we protect people from the few bad actors? How can we make blockchains more eco-friendly? Are there still bits of Web2 still there? How does it work when we get more people involved? Will the Web3 ethos change over time?
But there are enough people who can see the vision of what web3 is and what it can be - individual ownership, community ownership, privacy, freedom from censorship, generational wealth, etc. And it’s those ideas that keep them engaged in building the future’s new projects.
Why Does it Matter to Me?
Web3 isn’t going anywhere. Adoption is increasing every day and there are cool and interesting projects rising up all the time. Hate hearing about tokens or NFTs? Sorry, but it might be time to get used to it. But like Web 2, there’s a place for everyone.
If you are a content creator, this could be a way for you to break away from being a slave to an algorithm and grow your influence directly with your followers.
If you are mindful of your information and data, this could be a way to secure it.
If you are interested in gaining wealth, there is a place for you too.
The point is that it matters to you if you are interested in making a place for yourself. The possibilities are endless.
That’s the wrap of this video. If you want to learn more about what is Web3, check out our website
and we will see you next week with “WTF is Blockchain!”