Everyone is talking about Web 3.0. Only some people, however, can explain why it is so important for the future digital economy.
Consider the content creator market as an instance.
The past
Most content creators are now trapped on Web 2.0 platforms that store their content on their centralized servers. As a result, these platforms own this material and have the right to censor, demonetize, or even prohibit it.
Their search algorithms decide which material is presented to potential viewers, allowing them to shadow-ban any material they disapprove of. And if one of these platforms disappears, all of the data it saved would be lost.
As a result, the power dynamic between currently existing content platforms and producers is shifting.
The future
In contrast to Web 2.0, where data is stored on a single server or computer and accessed via a web address, or URL, that directs visitors to it, Web 3.0 will be based on a P2P (peer-to-peer) system in which data is distributed among a large number of computers, or nodes, using blockchain technology.
Because data is decentralized, no single entity can decide what can and cannot be done with it. Only the owner of the data has access to it. As a result, Web 3.0 restores power to content owners.
But how does this work in practice?
YouTube, a Web 2.0 platform, presently controls the video streaming market. If a video content producer wants to reach a large audience, their only option is to publish it to Alphabet’s service. However, as is widely known, YouTube has the option to limit or demonetize any video it considers inappropriate, as well as completely ban individuals.
The creator has limited alternatives in this situation. Even if they contact the site, they are likely to receive a vague warning regarding “violating community rules,” if they receive any answer. Furthermore, content providers on YouTube have no control over how much money they generate from advertising views. The platform sets all conditions; users can accept or reject them.
FavorTube is the name of the most sophisticated Web 3.0-based video streaming project. It offers real-time, consumer-grade HD video viewing and full-lifecycle services for content development, connecting content producers, consumers, and fans on a transparent, fair, and anti-censorship platform.
FavorTube uses blockchains to distribute ad money among creators, the network, and viewers. It enables the issuance of many forms of NFTs with a single click, with income from channels or content provided to NTF holders immediately. Through authorization, the interests and rights of commercial videos are protected on the P2P network.
Change is inevitable
It is evident that content producers prefer this arrangement and will flock to Web 3.0-based platforms as the internet matures. As more people become aware of the advantages of decentralization, there is no doubt that additional Web 3.0 platforms will emerge to fulfill the rising demand.
Stadio Global has placed itself strategically to serve the future-oriented group of creators who accept shifting to web 3.0 to enjoy the blockchain system.