First, let’s take you down a quick history of the internet. Starting with Web1:
Web 1 is the first version of the internet that was “read-only” back in the early 1990s. Think of browsing an online magazine or reading an encyclopedia page . Sounds weird now, but you could literally Read-it-only, like a book. And also only a desktop computer.
Web2 is what we’re mainly using now, which is read and write. Think of all the social media platforms and interactive websites most of us use daily. This is where you can write your own articles or blogs, create + upload your own videos, stream movies + tv shows, play games, and online shop.
This is also where the big tech companies have really built their empire, whether it’s Instagram, or YouTube or Tiktok or Twitter, these are all centralized companies who are the ones making decisions. This means, while we have built a presence on their apps, we don’t actually own or control what we’ve built. Content creators get a firsthand experience of this every day.
Now on to Web3. This is where that ownership piece comes in. Web3 is read, write, and own. For the first time, we can prove that we own something digital. Now you may be asking yourself, is there value in owning something digital? Is our digital presence important?
If you’re a gamer, you know that owning a certain skin or an accessory is important. If you’re an artist, you know that posting your work online is a huge way to bring in sales. If you have a channel, that content you create is literally a representation of something in your life that’s meaningful to you, and others.
Over the past couple of decades, the internet and the way people use it have been constantly changing. Our lives are going more digital. From the way that we engage with people to how we do our jobs or school and our social profiles we use.
And now, with this ownership piece that’s associated with Web3, because of cryptocurrencies that are powered by the blockchain, it allows us to own things online too. So web3 really enables this ownership economy- meaning you can make money, get benefits, or rewards off of what you can prove you own or created.
Web1 – read only
Web2 – read + write
Web3- read, write + own!!