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Web3 describes a decentralized internet where users have full control over their data, assets and identities. Using blockchain technology, cryptocurrencies and smart contracts, web3 eliminates the need for intermediaries, allowing people to transact freely.
In this model, decentralized applications (DApps) run on peer-to-peer (P2P) networks, offering services such as gaming, social media, finance and art, powered by crypto tokens and incentives. This article explores the impact of web3 technologies on the future of virtual entertainment — and how to get involved.
Key Takeaways:
Web3 technologies, including blockchain and NFTs, are ushering in a decentralized internet whose users have full control over their data, assets and identities. This shift from centralized models to user-centric platforms promotes transparency, verifiability and democratic governance, disrupting the traditional Web 2.0 landscape.