Web3 is going to be the main thing that helps the company Non Fungible Films gain traction in the growing world of NFT’s and cryptocurrency. Non Fungible Films is a fast rising star that is focused on connecting the mainstream media to Web3, where they will create a world where everyone can create without limit.
In today’s world where everyone owns everything and all the good ideas seem to exist already, Non Fungible Films wants to create a space for real and unfettered creation, sending creators across the entire multi metaverse to explore their worlds and characters, and then to use those building blocks to create even more characters and tell some brand new stories.
They also want to focus on building a place where people can be heard and the community feels like they have a real right and a say in what goes on in the Non Fungible Films company. By having community polls, areas for discussion, and promoting products made by the community, they want to build a safe space where the creators can feel at home and feel at ease connecting with one another to tell some amazing collaborative stories with one another.
If you have heard of Web3 and need to know about it, you’re in the right place. This guide will give you a glimpse into the world of a new kind of web that may just revolutionize the future. In a world where NFF and the blockchain are looking to increase their presence, it’s important to get a good understanding of the platform that most people are talking about.
What will you see on Web3? What can we expect when it’s being rolled out over the span of the next few years? There are so many questions, but we can answer a few of them in this guide.
With that said, let’s get started and talk more about Web3.
Web 3.0 Explained
Web 3.0 is believed to be the next version of the Internet. This one will be based on the blockchain, meaning that it will be decentralized. This can allow other people to govern parts of the Internet in the best way possible.
To that end, this kind of Internet won’t be dominated by the likes of Google, Facebook, Apple, and the other tech giants that have long since dominated the current version. Individualized sections of the Internet may just be the perfect thing since sliced bread.
Specifically, it won’t mean you will need permissions from the ‘internet authorities’ to access the services you want. At the same time, ‘trust’ can be a thing of the past when transactions on the blockchain are being done (such as exchanging crypto for services, trading crypto, and so on).
Furthermore, Web 3.0 is designed to make privacy a priority. So if you are looking for excellent protection on the Internet, it may finally come in the form of this upcoming version of the Internet.
What’s helping Web 3.0 gain steam?
Let’s take a look now at what is making Web 3.0 a possibility:
As mentioned, cryptocurrency has been one of the centerpieces of the blockchain. Crypto exchanges between people can take seconds. One person can send Bitcoin from a place in the United States to someone half the world away at the click or tap of a screen.
Compare that to fiat currency, which can take hours or even days. The fees from cryptocurrencies are lower compared to fiat transfers. On the high end, crypto fees can be about five percent (whereas fees for fiat transfers will be triple that).
Furthermore, centralized governments and financial authorities have been guilty of repeatedly devaluing and even manipulating currencies. This has also affected those residing in African and South American nations where hyperinflation has brought their financial and economic systems on the brink of collapse.
This has also deemed their country’s currency to be completely worthless. For this reason, citizens are looking to use Bitcoin and other cryptocurrencies since it is not controlled by any government or financial authority (thus, it’s decentralized).
Free speech vs censorship
Web3 may be seen as the platform that may be a gamechanger in a world where free speech and censorship continue to be the hot topic. Even with Elon Musk’s acquisition of Twitter, it’s still a question of how much free speech will be allowed on the current Internet platforms.
Web3 may allow users to publish media articles and videos without the concern for scrutiny by the tech giants. Because of the decentralized nature of Web3, many are hoping that free speech can reign supreme (even if what is said about something or someone is eventually proven false).
It can also be a game changer for content creators who may have been struck down by various platforms because they may have spread misinformation. On top of that, big tech is being accused on a regular basis for keeping ‘approved speech’ while censoring what may be views ‘opposed to them’.
The Metaverse is a digitalized world. The idea of using virtual reality and 3D technology is being discussed as the norm. It’s a fairly new terminology and we’re not sure of what is to come.
However, the uncertainty tends to be exciting. What will we expect in the Metaverse in Web3? How large will it be and what will it offer?
Web3 is still young in terms of discussion. It’s continually developing even as you’re reading this. At this point, it has shown that it has the potential of providing more privacy, freedom of speech, and more convenience for its users.
Money can be received faster, more information without scrutiny will be accessed, and we may be introduced into a whole new world that is completely digital. The real question is: when will Web3 become accessible to the public? It hasn’t been fully implemented so it can take years until we finally see it come to fruition.