Several new terminologies were introduced into the popular language, including bitcoin, non-fungible tokens, the metaverse, and Web 3.0 in 2021.

Let’s take a look at what Web 3.0 is and will web 3.0 replace Facebook or not?

Facebook (now known as Meta), Twitter, Amazon, Microsoft, and Google are the five major technology corporations that currently govern how our data is utilized, as well as where and how it is collected and analyzed, according to a recent report.

Their algorithms determine the data that we receive, which has raised eyebrows and set off warning bells.

Web 3 is now being billed as a campaign that will reclaim control of the media from the five major technology corporations, thanks to the use cases for cryptocurrency, blockchain, and metaverse technologies.

What Happened to Web 1.0 and Web 2.0?

Users could access papers and other data stored on shared servers all across the internet using Web 1.0, which was the first version of web technology to be released.

Web 2.0 is the technology that we are currently using, where sharing of information has grown, and ideas may be crowdsourced through user-generated material on social media sites such as Twitter and Facebook.

The emphasis switches from a web of data to a web of individuals with the advent of Web 3.0.

The first version of the internet was primarily concerned with text and HTML, whereas the second generation was concerned with hyperlinks and the interconnection of pages inside a single website.

A major focus of the third generation is social media sites, as well as semantic coding, which allows browsers to read more than just the text on a webpage, but also draw in data such as the firm’s name and goods description, as well as information about the website itself.

The Web 3.0 period has witnessed the rise of social networking sites such as Facebook and Twitter, as well as the introduction of Google’s +1 button and a bigger focus on customer reviews of businesses in general. These were the first indicators of Web 3.0 becoming more integrated with the way we currently use the internet.

How Will Web 3.0 Work?

You’ve learned that in Web 3.0, you’ll be even more powerful than you are now. In this case, if you post any of your stuff online via Web 3.0, you will receive a digital key in exchange. In addition, you will have complete control over your material. Google, Facebook, and Twitter won’t be able to delete your stuff at their discretion in Web 3.0.

Web 3.0 will, according to experts, be built on blockchain technology, which will allow for the decentralization of all data. For the first time ever, your information will not be stored on the server of any firm but on your own smartphone, thanks to blockchain technology. So, no one else will be able to alter your information in any manner.

Final Thoughts

Amidst the dominance of social media platforms like Facebook and Twitter, marketers should investigate how blockchain technology might help reclaim control of the marketing discourse.

Social media channels such as Facebook, Twitter, and Instagram will become more accessible to marketers in Web 3.0, but users will have more choice over who may see their personal information. Marketers will no longer be reliant on intermediaries to grant access, and their client data will be more secure as a result.