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Web3 is the evolution of the internet, backed by blockchain technology.

In the near future, internet users will no longer sign into an app with a username and password, instead it will be an alpha numeric wallet address. This is the idea of web3. The 'wallet' will actually be an interface to a digital 'onchain' account. By onchain, it means on a blockchain network.

It focuses on decentralization (not owned by one central authority), proof of ownership (via the blockchain ledger) and digital currency (known also as cryptocurrency).

Right now we're somewhere in between web2 and web3 -- we have the technology, but it's still new and not many people are familiar with it. But it's worth understanding, because it still provides opportunities to those who explore new frontiers.

Web3 in its present iteration has many communities and niches, but the two main ones include:

  • Those with focused interest in cryptocurrencies, tokens, airdrops and the overall storing and trading of them.

  • AND those who collect, create and/or trade digital artwork onchain.

These are the biggest uses of blockchain technology as of now and they intertwine by nature.

Future use cases include the necessary integration of blockchain and AI and additional ways of verifying authenticity and ownership via blockchain as well as the development of multiple digital realities that are simultaneously virtual, 3D, immersive and realistic. 

The opportunity for virtual experiences is where the idea of the Metaverse comes from -- a digital playground where you can be with friends and family at the places you enjoy in a 3D immersive way.

  • Check out my web3 art gallery in the PORTFOLIO

  • FOLLOW me on my socials for more @spiritstem


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