Many years from now, Web3 will also be remembered for certain aspects like the internet in the late 90s

Once upon a time, in the not-too-distant past, the internet as we know it had changed. Circa 2022. The web was no longer dominated by a few giant corporations — no Google, Amazon, Apple or Microsoft. What thrived was a decentralized network of interconnected computers powered by blockchain technology. This new internet, known as Web3, was a place where anyone could come and participate and no single entity or big tech had any control.

On Web3, people, who formed a large, cohesive community and were more than just users, could buy and sell goods and services directly with one another, using cryptocurrency as a medium of exchange. All transactions were recorded on-chain, in a ledger that could be accessed via Ethereum, Polygon, Optimism or Tezos, to name just a few.

Everything was immutable, legitimate, and transparent, regardless of the blockchain. Additionally, people could be rewarded for contributing their computing power to this new internet. As "miners", they were active and useful when Layer 2 networks were not as widespread and more sustainable.

There were many cool new applications (dapps) and interesting services on Web3. For example, people could use decentralized marketplaces to buy and sell everything from clothes to cars, without the need for intermediaries. It's worth mentioning that everything could be a token, or an NFT if you prefer. Avatars also started having exclusive wardrobes as phygital became popular (!). They could also use decentralized prediction markets to forecast the outcome of events and earn rewards for their accuracy.

Everything was immutable, legitimate, and transparent, regardless of the blockchain.

But the most exciting thing about Web3 was the way it empowered individuals. With the power of blockchain technology, people could take control of their own data and decide how – and where – it should be used. They could also create and share content without the need for gatekeepers.

As Web3 grew and became more widely adopted, it had a transformative effect on society. This “new internet” facilitated the creation of new forms of organizations (DAOs) and communities, and enabled people to work and collaborate in new ways, wherever they were.

Despite this, not everyone was happy with the rise of blockchain-based internet.

Some powerful organizations and governments saw it as a threat to their control and profit, and attempted to shut it down. But the decentralized nature of Web3 made it difficult to control, and it continued to thrive and grow despite their efforts. These organizations and governments had long relied on their centralized positions to extract profit and maintain control, but the decentralized nature of the new web allowed individuals to bypass these traditional power structures, leading to a loss of profits and influence for these traditional, mainstream entities.

It's worth mentioning that everything could be a token, or an NFT if you prefer.

And so, Web3 became a place where anything was possible, a true democratization of the internet. People's ideas and creativity thrived there, free from the constraints of the old web: living online and collecting or trading digital items has become as common as our daily routines in the real world. Even though its opponents attempted to stop it, Web3 proved to be a formidable force – all of a sudden, it opened up a whole new world of freedom and opportunities.

There was a time when the future was retold and digital life found its way into the world.

It only happens once in a while in history.

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Many years from now, Web3 will also be remembered for certain aspects like the internet in the late 90s

Once upon a time, in the not-too-distant past, the internet as we know it had changed. Circa 2022. The web was no longer dominated by a few giant corporations — no Google, Amazon, Apple or Microsoft. What thrived was a decentralized network of interconnected computers powered by blockchain technology. This new internet, known as Web3, was a place where anyone could come and participate and no single entity or big tech had any control.

On Web3, people, who formed a large, cohesive community and were more than just users, could buy and sell goods and services directly with one another, using cryptocurrency as a medium of exchange. All transactions were recorded on-chain, in a ledger that could be accessed via Ethereum, Polygon, Optimism or Tezos, to name just a few.

Everything was immutable, legitimate, and transparent, regardless of the blockchain. Additionally, people could be rewarded for contributing their computing power to this new internet. As "miners", they were active and useful when Layer 2 networks were not as widespread and more sustainable.

There were many cool new applications (dapps) and interesting services on Web3. For example, people could use decentralized marketplaces to buy and sell everything from clothes to cars, without the need for intermediaries. It's worth mentioning that everything could be a token, or an NFT if you prefer. Avatars also started having exclusive wardrobes as phygital became popular (!). They could also use decentralized prediction markets to forecast the outcome of events and earn rewards for their accuracy.

Everything was immutable, legitimate, and transparent, regardless of the blockchain.

But the most exciting thing about Web3 was the way it empowered individuals. With the power of blockchain technology, people could take control of their own data and decide how – and where – it should be used. They could also create and share content without the need for gatekeepers.

As Web3 grew and became more widely adopted, it had a transformative effect on society. This “new internet” facilitated the creation of new forms of organizations (DAOs) and communities, and enabled people to work and collaborate in new ways, wherever they were.

Despite this, not everyone was happy with the rise of blockchain-based internet.

Some powerful organizations and governments saw it as a threat to their control and profit, and attempted to shut it down. But the decentralized nature of Web3 made it difficult to control, and it continued to thrive and grow despite their efforts. These organizations and governments had long relied on their centralized positions to extract profit and maintain control, but the decentralized nature of the new web allowed individuals to bypass these traditional power structures, leading to a loss of profits and influence for these traditional, mainstream entities.

It's worth mentioning that everything could be a token, or an NFT if you prefer.

And so, Web3 became a place where anything was possible, a true democratization of the internet. People's ideas and creativity thrived there, free from the constraints of the old web: living online and collecting or trading digital items has become as common as our daily routines in the real world. Even though its opponents attempted to stop it, Web3 proved to be a formidable force – all of a sudden, it opened up a whole new world of freedom and opportunities.

There was a time when the future was retold and digital life found its way into the world.

It only happens once in a while in history.

Follow me on Twitter