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What the hell is Web3 and the meta verse?

Here are at Interflix we are not ready to be taking our branded clients into the Meta verse, and most of the brands we work with are happy to start their content progress with interactivity. But with the metaVerses abrupt arrival, something we thought would happen in 2056 or beyond, it's important for brands to understand what it is and why they need to be paying attention to all the progression happening in the creative space. Standard video just doesn't cut it anymore. So there we are chatting through all things Web3, the metaVerse and why everyone is jumping on the brand wagon. From NFTs to virtual real estate, we will give you the easy guild to understanding it all.

First up lets clarify the terms we will be using and what they actually stand for:

Web3 is a term used to describe the next generation of the internet, where users are in control of their own data. The "3" refers to the fact that this is the third generation of the internet. The first generation was defined by dial-up connections and early versions of HTML. The second generation was defined by social media platforms, eCommerce, and streaming services. The third generation of the internet will be defined by decentralisation. This means that there will be no centralised points of control, like Facebook or Amazon. Instead, power will be distributed among many different nodes, or computers, around the world.

The Meta verse is a term used to describe a virtual world that is interactive and immersive. It is a place where people can meet, interact in the blockchain and cryptocurrency space that refers to the third generation of the internet. It's often described as a more decentralised, secure, and transparent version of the internet we have today.

Why are people so excited about Web3 and the meta verse? One of the biggest reasons is that it provides a new way to interact with content. With Web3, you can own digital assets like memes, videos, or articles. You can also earn money by creating content or providing services. This is a big shift from the way things work today, where most of the value goes to the platforms like Facebook and Google.

(venture Beat)

Another exciting thing about Web3 is that it could lead to a new kind of internet where users are in control. Today, our data is controlled by large corporations like Facebook and Google. They use this data to target us with ads and sell it to other companies. With Web3, users will be able to control their own data, which will make it harder for companies to track us and sell our information.

The meta verse is an important part of Web3 because it provides a place for people to meet and interact. Today, the internet is a very isolating place. We are all stuck in our own little bubbles, where we only see content that confirms our own views. The meta verse provides a way to break out of these bubbles and interact with people from all over the world. This is a powerful tool for learning and understanding new perspectives.

We are sure you have seen the phrase NFT floating around all areas of your social sites, from Instagram to LinkedIn. The likes of Disney to new up and coming artists are all jumping on the NFT wagon. But what is an NFT, where can you display them and why are brands getting involved?

NFTs are non-fungible tokens. This means that they are unique and cannot be replaced by another token. They are often used to represent digital assets, like artwork or videos. NFTs can be bought, sold, or traded like any other asset.

One of the most popular ways to display NFTs is on the Ethereum blockchain. Ethereum is a decentralised platform that runs smart contracts. These contracts allow developers to create applications that run exactly as programmed without any possibility of fraud or third party interference.

The benefits of using Ethereum for NFTs are obvious. First, it is a decentralised platform, which means that there is no single point of control. Second, it is immutable, which means that the data cannot be changed or deleted. Finally, it is secure, thanks to its use of cryptography.

Why are brands getting involved in NFTs? One of the biggest benefits of NFTs is that they can be used to build trust between brands and customers. For example, imagine if you could buy a shirt from Nike that came with a certificate of authenticity. This certificate would prove that the shirt was real and not a counterfeit.

(medium/ Disney)

NFTs can also be used to create digital scarcity. This means that it is possible to limit the number of tokens that are available. For example, Disney could create a token that represents a limited edition character like Mickey Mouse. Once the token has been sold, it would no longer be available.

Should all brands be looking at getting into the Web3 space sooner rather than later. Well that remains to be seen, but what brands do need to do is start to look at their content strategy and put in place new ways on creating content outside of the norm. So let's get into why interactive content is the way of the future and the next step for brands towards the Meta verse.

As we move into the next generation of the internet, it's important for brands to understand the importance of interactive content. With decentralisation comes a more secure and transparent internet, which is why interactive content is so important. It allows users to be in control of their own data and provides a more immersive experience. Interactive content is also a great way to build trust with customers. By providing a more interactive and engaging experience, brands can create a deeper connection with their customers.

Finally, interactive content is the perfect way to create digital scarcity. By limiting the number of tokens that are available, brands can create a sense of exclusivity around their products.

So there you have it, a quick introduction to Web3 and the Meta verse. We hope this has helped you understand some of the basics of these new technologies and why they are so important for the future of the internet.


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