Web3 or Web 3.0 has been the talk of the tech industry and in media headlines for years, especially for developments in fintech. What is Web3, though? And why is it relevant to mobile app publishers, developers, and marketers?
What is Web3?
Web3 is the predicted next version of the internet. Web1 was the internet of blogs, static webpages, and AOL. People used the internet, but they didn’t really participate in it. Web2 began around 2005 with the launch of Facebook and other social media platforms like Instagram and Snapchat soon after.
Web3 combines the asset focus of Web1 and the collaborative nature of Web2 with a decentralized approach via blockchains, NFTs, and cryptocurrencies. Let’s use social media as an example. In Web2, users create content and post it on the internet with little to no compensation from the social media companies that profit from said content creation and user data. In Web3, creators receive NFTs, cryptocurrencies, or other exchanges they can trade or exchange for traditional currency.
Web3’s relevancy to mobile app creatives
According to a 2022 Apptopia report, self-defined Web3 apps are growing 5x faster in 2022 than in 2021. The number of Web3 apps available for download started at approximately 40 in January 2019 and has since grown exponentially to a total of almost 200 apps available via the iOS App Store and Google Play in April 2022.
The same report found that Google searches featuring “web3” have grown significantly over the past year. Mobile app publishers, developers, and marketers should capitalize on the public’s growing interest in this concept while it is still new and the market isn’t saturated with content. Some companies like the Ready Games Network have already started innovating with mobile Web3-specific divisions.
App genres involved with Web3
Web3 values users being paid for their time, energy, and assets, so it’s no surprise that 46% of available web3 apps revolve around finance, according to Apptopia. Magic and UHive are great examples of utility and social apps, representing another large portion of web3 apps at 8.9% each.
Business entrepreneurs are making the transition to Web3, too. Though business apps make up only 5.8% of web3 apps, platforms like Bondex are making strides by helping employers hire skilled workers via a “blockchain native talent pool.”
The web3 game genre will likely boom as more users discover metaverses and mobile app publishers use their significant profits from player spending to migrate to web3.
Web3 is a rapidly expanding concept with new announcements daily. Check out these resources to learn more about Web3 and mobile apps:
- The Latecomer’s Guide to Crypto: What is web3?
- This Week in Apps: Mobile gaming’s market share hit, web3 app growth, Niantic’s new AR tools
- Top Web 3.0 Developed Apps You Must Know About
- The Best Web3 Apps and Products of 2022
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