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Web 3.0 And Its Impact On Digital Marketing

Before seeing how Web 3.0 is impacting on digital marketing, first know about what is actually Web 3.0. Let’s explore:

Web 3.0, also known as the decentralised web, is the next iteration of the internet, following the current Web 2.0. The key difference between Web 3.0 and Web 2.0 is the shift from a centralised model of the internet to a decentralised one. In Web 3.0, data is distributed and managed by a network of nodes rather than being controlled by a few centralised entities.

The concept of Web 3.0 is still evolving, but it is expected to bring several significant changes to the internet, including increased security, privacy, and control over personal data. Web 3.0 technologies such as blockchain, smart contracts, and decentralised applications are designed to enable peer-to-peer transactions without the need for intermediaries.

What is Web 3.0 and How Is It Impacting Digital Marketing?

The internet evolution: Journey from Web 1.0 to Web 3.0

  • Web 1.0 (a read-only web): The initial version of the internet, known as Web 1.0, was developed in the early 1990s and only supported static HTML web pages that could be viewed using a browser. This stage focused on disseminating knowledge and publishing it for as many individuals as possible.

  • Web 2.0 (a read-write web): The second phase of the web, which started in the late 1990s, was interactive and collaborative. With the advent of blogs, wikis, and social media platforms, web users may now produce and share material online rather than just being passive content consumers.

  • Web 3.0 (a read-write-interact web): The third iteration of the web focuses on how people and machines may communicate and work together. With the introduction of new technologies like the semantic web, natural language processing, and machine learning, the web is becoming more intelligent and flexible. Web 3.0 is therefore regarded as the internet's future.

What is Web 3.0?

In common language, Web 3.0 is the next-gen decentralised internet, that provides a personalised and interactive experience while giving users more control over their personal data and privacy. 

According to Gartner, approximately 84% of marketers in Digital Marketing describe that using artificial intelligence, machine learning, and technologies that are driving Web 3.0 improves their marketing function's ability to provide real-time, personalised experiences to customers. 

Three Pillars of Web 3.0

The following are the three pillars of Web 3.0

  1. The Semantic Web 

It is regarded as a method of handling data on the internet that enables a machine to comprehend it in the same manner that a human does.

  1. Artificial Intelligence 

Machines are capable of comprehending human-created or performed tasks, such as decision-making and pattern recognition.

  1. Natural Language Processing

By extracting precise information from the text, machines can comprehend human language.

Prominent Web 3.0 Technology Features 

Decentralisation: One of the most important aspects of Web 3.0 is its decentralised nature. As a result, there is no single entity or authority that oversees or controls the internet. Instead, across a distributed network, each internet user is in command of their own data and content.

Blockchain engineering: Blockchain is another vital element of Web 3.0. Blockchain is a distributed database that enables secure, transparent, and unchangeable transactions. By increasing security, blockchain technology has the potential to fundamentally alter how people conduct online transactions.

Enhanced security and privacy: Increased security and privacy are the major features of Web 3.0. The lack of a single point of vulnerability thanks to decentralisation enhances security. The method by which each internet user chooses who has access to and is permitted to use their data is also streamlined by Web 3.0.

So, how does Web 3.0 impact digital marketing? Here are a few ways:

  • Increased transparency and trust: With Web 3.0 technologies, users have greater control over their personal data, and marketers must be transparent about how they collect, store, and use it. This increased transparency can help build trust between brands and consumers, which is essential in building long-term relationships.

  • Personalised and targeted marketing: Web 3.0 can allow for more personalised and targeted marketing, as marketers can access more accurate and granular data about consumer behaviour and preferences. With the ability to collect and analyse data in real time, marketers can optimise their campaigns to deliver more relevant and valuable content to consumers.

  • New advertising models: Web 3.0 technologies like blockchain and smart contracts can enable new advertising models that are more transparent, efficient, and equitable. For example, blockchain-based advertising platforms can allow consumers to be rewarded for viewing ads or for providing their data to marketers.

  • Greater competition: With Web 3.0, the barriers to entry for new players in the digital marketing space are lowered, as the decentralised nature of the internet means that no one entity has complete control over the ecosystem. This increased competition can drive innovation and improve the quality of digital marketing services.

Final Thought

Web 3.0 has the potential to revolutionise digital marketing by providing more control and privacy to users, allowing for more personalised and targeted marketing, enabling new advertising models, and fostering greater competition. As Web 3.0 technologies continue to evolve, it will be interesting to see how they are adopted by marketers and how they shape the future of digital marketing. AXAD is also looking for the challenges to meet Web.3.0 to explore more in digital marketing. Data will be crucial for marketing in the Web 3.0 era. Learn how to effectively use buyer data and how to use it to inform marketing decisions in order to make the best choices. AXAD is here to assist you in doing so. Come to AXAD.


By Author: Allen Sharen | 12 Mar 2023
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