Before we start, let’s address the elephant in the room. We live in a politically correct world where everything is blown out of proportion, cancelled, and offense is taken at the slightest turn of phrase. With that in mind, please accept this as a clear disclaimer that we at Space Age do not condone the selling of organs or any other body parts on the black market. Use Craig’s list like everyone else.
On with the article . .
How to Invest in Web3 – What it is, What it Means, and How to Get on Board
“I’ve seen people make millions by investing in Web 3.0!” Yeah, we’ve all seen the TikTok videos, but the actual reality and complexity of Web 3.0 is something that requires a bit more of a knowledge base than just idly browsing social media. Like any investment, it takes research and discernment and a certain amount of calculated risk.
What is Web 3.0?
Web 3.0 is quite simply the next stage of the internet. As a natural evolution we’ve seen the internet move from the emergence of web pages, to blogging (Web 1.0), to social media (Web 2.0) and now we’re seeing a more user-centric version of the internet that exists outside of large company-controlled systems. A system that sees the potential integration of everything from artificial intelligence, to digital marketplaces, to augmented reality. Welcome to Web 3.0—it’s a brave new world. Also a confusing one.
Getting involved is actually a simple matter, but to be successful in the Web 3.0 space we’re going to need to follow some steps and learn a little more about what Web 3.0 has to offer.
For more information on the Web 3.0 space, its history, where it started, and where it’s going, check out our recent article!
How to Invest in Web 3.0
Put your wallet away, we’re not there yet. Also, unless your wallet is digital, it’s not going to do you much good anyway. There are numerous benefits that Web 3.0 can lend to our lives. Other than providing what will eventually be a more personalized web browsing experience, Web 3.0 will harness digital connective tissue to bring us closer together making it easier to communicate. Arguably the most useful, and most well-known advantage of Web 3.0 is the financial evolution presented to us in the form of the blockchain. From a purely financial standpoint, cryptocurrency will improve the way we invest, buy, and sell goods worldwide.
Web 3.0 investment opportunities are split into three different pieces and, in order to properly leverage them, we need to look at them individually.
How to Invest in Web 3.0 – CRYPTOCURRENCY
One of the foundational elements of Web 3.0 has always been cryptocurrency. When Bitcoin emerged and most of the world viewed it as a ridiculous and pointless fad, no one, not even experts in the field, truly grasped the enormity of what a digitized currency could mean for the world. It’s gone from simple fad to cryptocurrency potentially playing a vital role in the future of international commerce.
In a lot of ways, cryptocurrency is most similar to investing in stocks except the digital currency has a verified value backing it. If you’re looking to invest in cryptocurrency, there are a variety of useful apps and web programs to help you along the way. First, you’ll need a digital wallet, and then you’ll need to decide which crypto currency you want to purchase.
Here are just a few of the current popular cryptocurrencies to consider:
- Ethereum (ETH-USD)
- Polkadot (DOT-USD)
- Decentraland (MANA-USD)
- Helium (HNT-USD)
- Chainlink (LINK-USD)
- Theta (THETA-USD)
- Filecoin (FIL-USD)
How to Invest in Web 3.0 – NFTs
Welcome to a world of funny little pictures that you can buy and sell for extortionate amounts of money. NFTs are more than what they appear to be on the surface. You’ve likely heard stories of NFTs selling for vast amounts of money. The NBA is working hard to own a piece of this market place and even pop sensation Madonna has got in on the game.
The world of NFTs is possibly the most misunderstood part of Web 3.0 because it’s multifaceted. Yes, you can utilize a digital wallet to buy and sell NFTs through websites like Opensea and Mintable, but that’s not all. You can also use the NFTs themselves as a digital currency to pay content creators and likely more than that in the future.
The flipside is that there’s also strong potential for document verification and there’s some talk about digital passports being introduced by the EU in the near future that will utilize this technology. Because NFTs carry accurate historical ownership data, it makes them ideal for verifying documents and ownership of said documents. With so many layers beyond weird pictures of cartoon monkeys, NFTs are a viable investment option.
How to Invest in Web 3.0 – THE METAVERSE
Anybody read Ernest Cline’s bestseller Ready Player One? Or the movie based on the book directed by Steven Spielberg? The concept in Cline’s creative endeavor was a virtual world where you can live a different life to your own while still being in complete control. It’s virtual reality on a wide scale. The Metaverse isn’t there yet, but it’s certainly where it’s heading. So, is it a video game? An advanced version of zoom? Is it the Matrix?! Am I going to learn Kung-Fu in a matter of seconds?! Maybe?
It’s hard to say as the Metaverse is still the youngest aspect of Web 3.0 and it’s still being defined. There are multiple ways to invest in the Metaverse including buying metaverse-specific crypto, purchasing digital real estate, renting metaverse buildings, and more. With many popular brands, including the likes of Nike and Fortnite, exploring options in the Metaverse, there’s a good chance that investing in this evolving virtual world could be a very smart move.
The Web 3.0 Marketplace
Still confused? That’s understandable. In reality, Web 3.0 hasn’t actually been built yet. It’s the summation of everything in this article and likely aspects we haven’t even seen yet. This phase of the internet will see rapid growth and development with concepts that have never existed before. Navigating it will require expert guidance and a certain amount of patience. While it’s clear there are opportunities galore, it’s important to do the research and fully understand the digital world you’re about to venture into.
That’s where Space Age can help. We specialize in not just navigating Web 3.0 but also forging new paths through it for you and your business. If you want to learn more, contact us, and we’d be happy to have a conversation to discover how Web 3.0 can be leveraged to the benefit of your brand and business.