What is Web 3.0 and How are Blockchain, Cryptocurrencies and NFTs Related?

What is Web 3.0 and How are Blockchain, Cryptocurrencies and NFTs Related?

Welcome to Web3!

I had an amazing time at Joe Pulizzi's Creator Economy Expo, and I want to share with you what I learned specifically about Web 3.0 and how blockchain, cryptocurrencies and NFTs are all related.

In all honesty, I avoided these subjects for sometime as I found the NFT space to be full of people investing in them as if they were the .com startups in the tech bubble. However, wanting to learn about them knowing that Joe Pulizzi, the founder of Content Marketing World and Godfather of content marketing, is so invested in educating others around them, and after hearing Jeremiah Owyang's keynote speech, I now see things in a new light, and I think it is important enough that you do to.

No, I am not investing in any NFTs, but I do see how brands (and content creators) can and will be leveraging Web3 technologies in the not-so-distant future.

So, I am by no means an expert, and am very much a newbie, but I want to begin by sharing with you what I have learned and my perspective on this to help you all better understand the space.

I am still very much in the R&D phase of learning about this latest trend, but if this is something you want me to talk more about on my podcast, please let me know!

Key Highlights

[03:50] Democratization of Content

[05:56] What is Web 3.0?

[06:09] The Sharing Economy

[07:10] What is Blockchain

[08:20] Where Blockchain Started to be Implemented

[10:08] Sharing of Digital Ownership

[14:14] Why Would I Want Creators to Invest in Their Communities?

[18:12] Utilitarian Example of Monetizing Personal Brand

[22:23] What to Do Now?

[28:50] What is NFT?

Notable Quotes

  • Blockchain is the technology that will allow this to happen. And blockchain is a technology that allows us it's basically I guess, for lack of a better word, it is an accounting record, a ledger, which records every single transaction, and it can limit the number of iterations or the amount of ownership. 
  • I talked about the democratization of digital ownership. All of this is decentralized. There's not a person or an entity that owns it. It's decentralized by the framework of the technology itself, by the blockchain.
  • So right now, I think a lot of people are focused on the craters when it comes to NFT, the artists what have you. But it's equally important for brands to really understand this, because it is a growing economy. The economy of NF T's and cryptocurrency is already greater than influencer marketing.
  • With the democratization of digital ownership, the democratization of financial transactions. It's almost like the democratization of community.

Learn More: