Volker Hartzsch is the director and co-founder of Block Prime, a company that specialises in B2B blockchain and Web3 tech, creating solutions that solve real problems that can be implemented by non-tech people. This article will take a closer look at Web3, an investment avenue that is rapidly becoming a hot topic in 2023.
Presenting exciting opportunities for both consumers and investors, Web3 may still be in its formative stages, but it is evolving rapidly and is tipped to become fully realised sooner rather than later.
Centralisation has helped onboard billions of World Wide Web users, helping to create the robust and stable infrastructure on which it lives. However, this has culminated in a handful of centralised entities gaining a stronghold over vast swathes of the World Wide Web, placing the power in their hands to decide what should and should not be allowed.
Presented as a solution to this problem, Web3 embraces decentralisation. Rather than a web that is monopolised by huge tech companies, Web3 is being built, operated and owned by the users themselves, helping ordinary people to take back control from huge corporations. Freed from centralised control, this new decentralised internet of the future will enable users to collaborate directly, building digital ecosystems, earning crypto tokens and reaping the rewards of building a thriving online world. With Web3, creators are rewarded for content they provide, with developers earning real value in the form of tokens for their work. Users can freely choose projects they want to support and are compensated for their trust and engagement by becoming Web3 investors.
Touted as the future of the internet, Web3’s value is predicted to grow to around $176 billion by 2025, representing a 700% increase compared with 2020 figures. More efficient and secure, Web3 places power in the individual’s hands, presenting huge growth potential for investors becoming involved in an industry in its formative stages, potentially enabling them to gain a stake in future businesses.
Web3 is incredibly alluring to investors, presenting the opportunity to become involved in the next big technological evolution and potentially profit from it. Nevertheless, as with any emerging technology, there is no guarantee which industries and companies will be the big winners as Web 3.0 continues to evolve.
Buying cryptocurrency is one way to become involved in Web3. Alternatively, another route is investing in Web3 companies and stocks, Decentralized Autonomous Organisations, nonfungible tokens or the Metaverse.
Sixth Society is a community of daring investors and entrepreneurs seeking to lead the crypto-Web3 industry of the future. Members benefit from access to in-house innovation labs and next-generation technology ahead of the general public, presenting a rare opportunity to become involved in what is tipped to become the next $6 trillion industry.