Web3 Will Drastically Change Martech Technologies

The Point: Why This Matters

  • Next iteration of Web. Web3 is the next iteration of the internet, characterized by decentralization, transparency, and fairness.
  • New world of content and data. Web3 changes the landscape of content and data ownership, giving users full control of their data, which will change the way businesses acquire data for targeted advertising.
  • Martech’s big adaptation. Martech will have to adapt to the new rules of personal data distribution, but the adoption of Web3 will provide new advertising platforms and increase the efficiency of content creation through AI.

In 2014, the term “Web3” was first introduced by Gavin Wood, founder of Polkadot and co-founder of Ethereum. For those specializing in Martech, Web3 will be the crux of a crucial shift in the basic mechanics of digital marketing, but it hasn’t turned into a buzzword in the way that Bitcoin and non-fungible tokens (NFTs) have.

That being said, Web3 should be widely discussed because it’s going to significantly impact our future.

What Is Web3 and How Is It Different From Web2?

Web3 is the next iteration of the internet fueled by the advancement of technologies, which have the potential to change online power dynamics dramatically. Web3 is decentralized, meaning it’s not controlled by gigantic tech corporations like Meta (Facebook, Instagram, Whatsapp), Twitter or Alphabet (Google, YouTube). Most of us probably know by now that these companies create seemingly free products in order to harvest user data and profit from their sales. 

With Web3, enthusiasts see this new version of the online world as a more transparent and fair internet. One of the foundational technologies behind Web3 is blockchain, which helps store information about every transaction within the network. Each transaction can be viewed and verified, which makes Web3 a fraud-free zone and leads to more trust between users, brands, consumers, art dealers and collectors and so on. 

Web3 is also changing the landscape of content and data ownership. Tech behemoths will no longer be able to collect user data and sell it because it will be fully controlled by their users, who will have comprehensive ownership of the content that they produce. Today, when we create a post for our social media profiles, the work belongs to the platform and can be used or deleted without discretion.

The structural shift of the World Wide Web means today’s landscape of digital marketing will change dramatically and new conditions will require new Martech solutions. 

Related Article: What Will Web3 Really Be About: Part 1

The Main Changes for Martech

The emergence of social media platforms ― combined with the rapid development of the mobile internet ― has led to a boom of targeted advertising. Targeted ads are powered by user data and harvested by tech corporations, but in Web3, this data collecting practice won’t be possible. Even though targeted ads will remain, change will come in the way businesses can acquire this data.

With Web3, users can choose who sees data and on what terms. For businesses, this necessitates a negotiation about receiving consumer data without any middlemen. For instance, your company may offer your customers the ability to share their data in exchange for a discount. Although this may initially sound discouraging, it’s likely that the shared data will come from your exact audience rather than from unidentified sources, which is often what happens today. 

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