Top 5 Things Web3 Experts Are Hoping For In 2023
New technological changes impact the way people access digital services and assets. One such advancement for altering the traditional norms of accessing online applications and services is Web3. In recent years, there has been a significant increase in the focus on web3. Why? Web3 experts believe that every company looking for new digital transformation opportunities wants to be ready for the future. Web3 trends, on the other hand, suggest a particular kind of internet future.
Today, practically every business relies on the internet in some capacity for its operations. It is crucial to understand how changes to the web may impact people. Furthermore, the ongoing expansion of talks surrounding web3 has revealed the enthusiasm surrounding web3 experts. Numerous cryptocurrency projects in the web3 space received negative news, including the failure of the FTX exchange and DeFi in 2022. Despite the downturns, web3 projects have continued to move forward at a steady clip.
Let’s find out the most significant things web3 experts anticipate in 2023
Web3 Asset and World-Building Strengthened by AI
AI took over many conversations around here in the closing days of 2022, but what got me the most enthusiastic was thinking about all of the ways it will affect NFTs. NFTs and AI are hence my top picks for Web3 business developments for 2023. Creators will include storytelling in their work using AI. The most well-liked projects of the day will be included in graphic novels, short videos, and even social mini-games. For social mini-games, envision your favourite NFT changing after earning the next level or connecting with other collectors. AI will not only assist in game creation but will also add the necessary elements to the artist’s unique style. It will now take a fraction of the time to construct a world that would have previously required months or even years.
Blockchain and AI Technology Promote Business Innovation
Web3 experts believe access has always been vital, and they think 2023 will be awash in new opportunities and types of material thanks to blockchain, cloud computing, and artificial intelligence.
Incorporating AI with Web3 technology is one of the most intriguing breakthroughs in this field. Artificial intelligence-powered chatbots and virtual assistants will simplify consumer communication for organisations by utilising machine learning and natural language processing. Users will be able to find new products, services, and enterprises they previously lacked the confidence or knowledge to create with AI-powered recommendation engines.
Consider having a chatbot develop code or trade stocks for you. The majority of engineers have previously tried this.
Currently, I’m also interested in cloud computing. Cloud computing enables both enterprises and individuals to access and use computing resources over the internet, enabling rapid and extensive scaling.
Web3 will expand by adding internal, client-facing, intermediary, and broadly owned digital computing nodes that can decide on behalf of all parties. Imagine having your own personal mini-computers running software that orders items from Amazon while you’re asleep and using the information to operate a drop-shipping or fuel a metaverse asset-purchasing firm.
Finally, blockchain is here to stay, but cryptocurrency is too busy acting like a hormonal teenager. Blockchain has the ability to alter the way we think about online transactions by enabling safe, decentralised value exchanges that are both traceable and unchangeable. It will open up new possibilities for both people and corporations. Imagine never losing data again, macro or micro, at the most fundamental level.
The visionaries who master the fusion of all these technologies will advance more quickly than others. Dear friends, dream big. No longer is the sky the limit because the instruments we have made for ourselves can perform the frequently complex, time-consuming, or physically demanding processes on your behalf.
Making NFTs is now simple and almost free
The creation and launch of NFT projects will be made incredibly simple in 2023, thanks to the creation of an open-source solution. The obstacles that prevent people from starting NFTs will be completely removed. It will be the Web3 industry’s “WordPress” moment. No makers of smart contracts. No expensive consultants. No migraines. Not a problem. With open standards, it will simply operate and be completely interoperable.
This technological advancement will spur widespread invention in the same way that WordPress ushered in millions of publishers and enabled anyone to post anything. Like WordPress, it will have an open design that lets third-party applications add features and functionality to NFT collections.
When this occurs, thousands of new use cases for NFTs will be made possible by artists and businesspeople. The future of Web3 will be built on this breakthrough, which will be available to everyone for free. Although I have no idea who is creating this technology, I am convinced that it will appear very soon because it is sorely needed.
Businesses Are Using Blockchain Technology to Improve the Customer Experience
We see a growing trend towards the use of NFTs for non-artistic applications in 2023. Over the past year, we have seen how NFTs have the ability to offer their holders “utility” or benefits. More businesses will leverage blockchain technology to develop NFTs this year that offer a range of advantages, including membership incentives, event access, tokenized ownership of tangible assets, and more.
The most crucial aspect of Web 3.0 is that it promises to bring about a new era in which customer experience analytics can be more effective and efficient than ever. pic.twitter.com/PKrMdevWRU
— SKAFLIC (@SkaflicOfficial) December 10, 2022
Social networks are moving in the direction of decentralised governance.
Transition and bifurcation are essentially two sides of the same coin and will be key phrases for Web3 in 2023. Transition, as entrepreneurs and investors try to position technology in an evolving landscape of shifting economic contexts (such as a reversing Fed policy), large-cap tech stocks as volatile risk-on assets, and an ongoing search for new business models supporting content and media that are independent of black-box aggregators (e.g., FAANG).
The separation of classic generalist technology from new decentralised technology and their respective business models (e.g., subscription and advertising versus co-creation, co-ownership, distributed computation, and “labour”) is leading to a bifurcation in the IT industry. Entrepreneurs and investors will increasingly focus on one or the other or combine the two for a counterbalanced (barbell) strategy.
Web3 experts believe there are two ways to beat a market: get in early on something big or bet against it. If you’re going to bet on Web3 in 2023, here are three Web3 business trends to keep a close eye on:
- A rising priority for decentralised (also known as self-custody) systems and protocols and a bifurcation within distributed finance models with increased regulation for centralised actors (and an accompanying interagency fight for control).
- With technology integrating computer processing and financial models, notably inside energy, telecommunications, and real estate-based infrastructure, on-chain evidence of physical geographic coverage and physical work is possible (cf. DePIN).
- Payments are integrated with the underlying protocol of social networks with decentralised governance and decision-making (cough, Twitter, cough), where those protocols offer dispersed social graphs that enable users to move their social networks between social platforms.