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How to Invest in Web3 in 2023

How to Invest in Web3 in 2023

Along with the changing technology, besides the metaverse and NFT concepts, another concept that is the most curious is Web3 technology. What is Web3 for you this week? And how to invest in Web3? We will answer your questions.

Who Invented the Term Web3?

Ethereum co-founder Gavin Wood coined the term Web3 in 2014 when he envisioned a new economy built around blockchain technology, where individuals exchange services without a central authority. The idea of Web3 started gaining popularity in 2021. Projects like Helium Network and Arweave have achieved multibillion-dollar valuations, closely mimicking Gavin Wood's vision for Web3 with their decentralized peer-to-peer networks.

What is Web3?

As it is known, Web2 comes across as the current internet that we are used to with platforms such as TikTok, Twitter, Instagram, and more. When looked at, these platforms have a central structure. Our topic, Web3, wants to decentralize these platforms through DAOs or other Blockchain technology applications. Web3 is also called the next step of the internet.

How to Invest in Web3?

Web3 is also known as the last generation of the internet. It also aims to remove control from big corporations and operate in a decentralized way where users own, build and operate them. The best way to invest in Web3 technology would be to buy cryptocurrencies linked to its development or implementation. Some of the Best Web3 Coins include Polkadot, Near, and Ocean protocol (OCEAN). Some of them have valuations of billions of dollars.

Polkadot is a cross-chain communication protocol established by the Web3 Foundation. Polkadot's para-chain model emerged from the belief that the future of Web3 will include many different blockchains working together. Web3 focuses on technology that is unpredictable by the user, unlike the Metaverse craze that is taking the crypto markets by storm. As the technology matures, it will take some time for Web3 platforms and their popularity to reach their peak.