Web3 is the next-generation internet technology that supporters believe will redefine everyday digital experiences. With the help of cryptography and distributed-ledger technology, Web3 promises to create a user-owned and user-controlled internet. Numerous Web3 projects have already emerged, opening new opportunities in fields such as entertainment, retailing, financial services, gaming, and esports.

Web3 will enable users to transact and engage with each other in entirely new ways, says Alex Manders, partner and global blockchain leader with technology research and advisory firm ISG. “Most importantly, it will enable the creators of data to retain ownership of the data and be incentivized to share it.”

Web3 promises an entirely new generation of online services, decentralized and leveraging the same types of technologies found in cryptocurrencies, such as Bitcoin. “Web3 is the underpinning for many services and functions that will, over the next three to seven years, become minimum success requirements for continued Internet function and growth,” says Mark Thiele, co-founder and CEO of Edgevana, a company that’s developed a global marketplace for automating data center procurement processes. “Web3 will lead to safer and more personal web interactions.”

What Will Web3 Mean?
Web3 promises to spur innovation across nearly all industries and markets. It will change the way people and enterprises interact with each other, offering new income streams for major brands and individual creators alike, says Markus Levin, co-founder of XYO, which offers a decentralized crypto-location network that’s
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