While Web 2.0 improved communication and online interaction, an immersive Web 3.0 is likely to focus on decentralization, connectivity, personalization, and enriched content. Our study suggests that once Web 3.0 is fully adopted, we will witness a dramatic shift in tech leadership (currently being dominated by internet & social media giants).
Both Web 3.0 and metaverses enable seamless buying and selling of digital goods/assets (currencies) and NFTs. Currently, these technologies are being extensively used in gaming and digital collectible segments. We foresee the use extending to other industries’ use cases in the future.
We are also witnessing a surge in investment and M&A activity for Web 3.0 businesses, and expect this trend to continue for the foreseeable future. In particular, we are seeing more interest in early-stage companies that are developing innovative metaverse concepts.
Fast-growing Web 3.0 notable trends:
- Eminent technologies: AR & VR are likely to be the eminent technologies enabling Web 3.0, whereby content will be layered on top and consumed through the combination of virtual 3D and physical experiences
- Blockchain-as-a-Service: A cloud-based service that enables customers to work with the blockchain to create digital products will find higher adaptation amongst organizations globally
- Full stack solution: Web3.0 is continuously evolving and is complex. Full stack development services will be critical for websites to adapt to technological changes without expensive and risky upgrades
- Access and compatibility through an open metaverse: Designing an open-world avatar compatible with a range of platforms and virtual worlds, interoperability of digital identities and high accessibility, where users can join from the comfort of their smartphone will be the next forefront of expansion
- Loyalty 3.0: Web3.0 has commenced to transform how companies are thinking about consumer loyalty. This wave of innovation will only continue to accelerate with new capabilities that Web 3.0 will deliver
- Bank & FIntech entering Metaverse: Digital banks are developing their own worlds that will support financial services in the metaverse. Early-stage opportunism, branding opportunities, new dimension to customer servicing and digital currencies to attract banks and fintechs to the metaverse