Web3 commonly written as Web 3.0, can be called the latest approach to the worldwide internet employing blockchain technology. The internet before Web3 is a highly centralized place where data is organized in the hands of small groups of companies. Although this centralization has served its function of creating stabilization and dependable infrastructure, there have been some drawbacks too. This high level of centralization made the world wide web function on the whims of a few groups deciding what ought to be and whatnot.
This monopolization by large technology companies of Silicon Valley can be broken by Web3. Web3 proposes a decentralized network under the control of its users. The idea revolves around the employment of blockchain technologies used by cryptocurrencies. Moreover, it is also associated with token-based economics where financial assets will be built in the form of tokens.
It is important to note that the web evolved from web 1.0, which was read-only and allowed zero interaction between its users. From 2004 onwards, Web 2.0 took hold which is read-write and included the inception of social media platforms allowing maximum user interaction till date. More and more people came on board resulting in the expansion of advertisement-based revenue models and control of insurmountable traffic within the hands of a few top tech companies. The content was monetized with the big tech as the sole beneficiary.
The Web 2.0 model is running to date but now, especially after the crypto revolution, Web 3.0 is in the limelight as the model which allows read-write-own. Right now, this ownership aspect is serving as its biggest attraction as it claims to give ownership of the content back to the user through non-fungible tokens.
It is being claimed that Web3 is the future of the internet and is being regarded as a big push towards making the internet better and fairer to the advantage of the user. Various players are now jumping into the game, Gabe Gayhart is Building Web3 Ecosystem which is a good initiative.
Andrometa Technology Project, named after the galaxy, is expected to stir up the NFT play to earn gaming, eSports streaming experience, with music and Gabe Gayharts million-dollar success AMC, American Movie Crypto which had solid launch numbers. Essentially, this project could have defined Gabe Gayhart since he was the leader of the project that broke the 1 million market cap within 2 days of launch, and the community loved and believed in him.
Instead, the BSC project was rugged by his 2 co-founders, who approached him to be a partner. The Binance Smart Chain rug burn has really killed the ascent as a hot up and comer in the Blockchain project space. This will be the 2nd major project he will be Team Director on, so we have time to redeem investors who some AMC whales quietly still believe in his vision. Instead of that ambitious VR movie streaming project with innovative gamification being his flagship success, he is now back ending his expanded Andrometa project with AMC plans, which will be started in phase 4 of 5.
He is targeting up to 70% payback to 230+ AMC investors over 5 years. Now with only a remnant of his community, it will take more time for Andrometa piloted by an empathetic visionary, or depending on who you ask, controversially charismatic, Gabe Gayhart to eventually meet us upon arrival in the Milky Way.
Right now, this ecosystem project is undisclosed with not many details, or insight on who investors are behind it, but those whales who have been pitched seem excited about the potential with off-the-record optimism (NDA liability) possibility of it attracting celebrities, hip hop influencers and other celebrity. Much was promised on prior Gayhart AMAs , in negotiations to do an unconfirmed 15-second YouTube spot with Matt Damon. Gabe in (Los Angeles) California, has been in digital since 2005, been on speaking circuits, and rubbed elbows with startup founders from MySpace,
Financial guru Ken Fischer and best seller author Dean Koontz. You never know with Gabe, he said in regards to FUD on how slow the project is moving. “It’s intentional, we need to get everything and everyone on board so we build a phenomenal experience. I don’t want to be 1st to market, I want to innovate the space and those who arrived first. I love being counted out and considered the underdog. it keeps expectations low and builds great momentum for our team.” Said Gabe Gayhart.
Announcements around the project’s purpose will be released in a short couple of weeks.
Some major advantages of Web3
- Web3 provides complete ownership of the data to the end-user. The personal data sold to advertisers by big tech will now be under the control of users themselves.
- Web3 will provide better data security and privacy to end-users.
- By taking out the intermediaries like Google, and Facebook, Web3 claims to resist censorship. In other words, Web3 tries to empower content creators against big platforms.
- Web3 is strongly associated with decentralized autonomous organizations which end users can control by acquiring tokens that act like shares in any normal company. Thus giving them a say in the decision-making process. This is regarded as a big step towards decentralization.
- Web3 provides a single identity from which users can control their entire online presence instead of having a separate identity for each platform.
However, Web3 is not without reservations it’s not easy to access Web3 for everyone. Moreover, at least right now, Web3 is not user-friendly and can be a pretty tricky one to operate. Detractors have claimed, with some weight, that it’s not as decentralized as is claimed by its proponents. Lastly, without educational initiatives to familiarize Web3 users, its success is shady at best.