In brief, Web 3.0 (also known as Web3) is somewhat an umbrella term for the next iteration (or better to say) era of the Internet.
What is Web 3.0?
The term Web 3.0 encompasses numerous concepts, some of which include the still-buzzing metaverse, NFT and, of course, blockchain, since the idea of the next Internet version implies its being decentralized.
In addition to its decentralization, another essential staple of Web3 is interoperability, the current lack of which is actually one of the biggest challenges the digital world has yet to overcome.
Digital Advertising in the Web3 Realities
One thing is clear, the new era of Internet can’t but make a huge impact on what the digital advertising ecosystem will look like, both in terms of ad formats and creatives, and the adtech-related specifics.
As for the former, while video advertising will definitely remain on top of the list, the soon-to-dominate ad units are certainly associated with AR/VR/MR tech, and metaverse advertising, accordingly.
As for the ad tech aspect, while the evolution of video ad player & video ad server funcional core to ensure the delivery of highly sophisticated ad units is absolutely inevitable, the shift to Web 3.0 will also affect the use of customers’ Personal Data for ad purposes.
Namely, a possible shift will imply people’s ability to enable access to their Personal Data voluntarily, in exchange for a certain amount of payment, e.g. while signing in a website/app using their crypto wallet. Of course, this data won’t enable advertisers to determine a person’s identity, yet it will help them to gain access to people’s online preferences in a transparent, and legal way.
Perspectives of Web 3.0 Adoption
Quite predictably, the era of Web3 won’t begin overnight. Nor will its global adoption happen in the nearest weeks, due to the current deficiency of technology enhancements and a number of other reasons, too.
However, the elements of Web3 are being continuously adopted by digital businesses (and the use of NFT is just one example of the many), and this process will only accelerate in the upcoming months.