Web3 and the Metaverse: The Future of the Internet
The Internet as we know it today is a fragmented landscape of separate websites, apps, and platforms. While digital transformation has made great strides, this model is proving to be a constraint for businesses in the long run. A new Accenture Technology Vision report surveying executives found that 95% believe that future digital platforms will need to offer unified experiences and interoperability of customer data across platforms.
Enter the metaverse continuum and Web3, two emerging concepts that are paving the way for a new form of Internet. The metaverse continuum is an evolution of the Internet that allows people to participate in a shared experience across the real world and virtual realms, while Web3 aims to build a "distributed" layer to the Internet through technologies like blockchain and tokenization. Together, these concepts promise to create a new Internet that moves beyond fragmented interactions to a world of contiguous immersive experiences.
Businesses are already starting to take notice of these shifts in the digital landscape and are exploring the potential of new products and services. To take advantage of these changes, companies need to invest in the cloud, focus on skills development, and find partners. Investing in the cloud will ensure that businesses have the infrastructure to share applications and data securely and easily. Skills development in 3D artistry, game design, and platform expertise will be essential for companies looking to participate in the metaverse. Forming new partnerships and industry standards will also be critical for ensuring interoperability and compatibility for cross-platform experiences.
As these technologies continue to mature, companies that are prepared and willing to experiment with new platforms and data structures will shape the future of digital business. The metaverse and Web3 are game-changing technologies that are revolutionizing the way we interact with the Internet. This is the time for businesses to decide if they want to be part of this revolution or if they are content to simply watch it unfold.
The digital world is undergoing a rapid transformation, and companies that don't adapt risk being left behind. BMW is a great example of a company that is already thinking about the digital world differently and capturing new value. BMW recently created digital twins of 31 different factories that use real-time data to create a photo-realistic 3D environment. This environment can be used for training robots, collaborating with designers, and even teleoperating machines.
Inrupt, the creator of Solid, is a great example of Web3 innovation. Solid allows users to control their data and store it in Personal Online Data Stores (Pods). Large organizations and governments can build websites or apps that interact with Pods and access data with permission. Solid creates a transaction and trust layer across the web by making parties the arbiters of their own data.
The Internet of tomorrow is just around the corner, and the time to start exploring and adapting to these changes is now. With the metaverse and Web3, the Internet is being reimagined as a more human-centric and valuable space that offers contiguous immersive experiences. It's time for businesses to embrace these technologies and play a role in shaping the future of the Internet.