Since the advent of Web 1.0, the first internet where websites could only be read without being modified by the user, we moved to Web2 with social networks and wiki pages where users provide the content, but the owner of this remains the creator of the website.
Now, we have evolved to the Web 3.0 that is being talked about today; the new internet that is being built on blockchain to offer users a greater participation in the value that is generated through it, that is to say that it allows decentralization and that each person owns its contents.
Its applications are almost endless and can be used by anyone who enjoys browsing the web, for example, sharing content and having meetings in a metaverse as an evolution of what is currently done on social networks, shopping, playing video games that generate earnings, learning online courses where the student is paid for their effort, and making financial transactions such as borrowing and investing.
“Web3 seeks a fairer distribution of the value generated between users, content creators, platform developers and investors. It is sought that the user, who provides the content, in turn owns the business, and participates in the decisions and its profits. This is achieved by distributing cryptocurrencies (tokens and NFTs) to users as they generate content and use the website”, explains Felipe Montes, co-founder and CEO of Kravata.
In fact, it is projected that by 2030, Web 3.0 will have an 80 billion dollar market with a wide range of applications.
The United Nations has even reported that it will help meet the sustainable development goals with actions such as giving access to distribute subsidies to remote populations through said technology.
“In Colombia there have already been advances in terms of using the web3, such as the appearance of digital artists, the issuance of a blockchain debt bond, the adoption of gaming via NFTs and an industry of purchase/purchase transactions is beginning to develop. sale of real estate using tokens. Kravata’s technological infrastructure gives companies the opportunity to deliver an additional value offer by offering purchase, sale and custody of digital dollars and other cryptocurrencies, connecting traditional means of payment with global liquidity providers under a formal and secure ecosystem with which that we seek to contribute to the development of Web3 in Colombia and Latin America”, points out Juliana Montes, co-founder and COO of the technology company.
How to use Web3
Taking into account its rise, experts from Kravata, the first Colombian company that provides infrastructure to companies to enable the exchange between local currency and cryptocurrencies, shares the ABC of web3 to use it this 2023 without dying trying.
– Download a wallet such as Metamask, Coinbase wallet, among others. They are usually browser extensions, in the case of wanting to use web3 from the cell phone, they can be found in the app/play store.
– Enter one of the web3 pages that you want to use, also known as Dapps. If you do not know where to start, it is recommended to do a search for “most used web pages3” in the search engine.
– When entering the Dapp, read its purpose, and connect your wallet.
– In general, you will need to have cryptocurrencies to use the web3 page. If you do not have one, you can make your purchase of cryptocurrencies with pesos, which is known as on-ramp.
You can do it from your wallet or through platforms such as Kravata that “enables formal, agile and secure exchange between local currency and digital assets through the integration of an API into client applications or websites, thus allowing people and businesses in Latin America can take full advantage of the potential of decentralized finance and Web 3.0 in a secure manner”, argues Montes.
– You are ready to use the Dapp. You will surely accumulate more cryptocurrencies and NFTs when using it, so you can redeem the cryptocurrencies for money in your local currency through a process known as off ramp with solutions like Kravata.
What can be done in web3 that couldn’t be done before?
– Decentralized Finance (DeFi): They are websites where, without banking intermediaries, you can connect your wallet and request loans, exchange one cryptocurrency for another or earn returns.
– Gaming: They are games that are based on the play-to-earn model, that is, where you earn cryptocurrencies for playing. Unlike current video games, in web3 games the user is the owner of his avatar through an NFT that is issued and certifies it as his. Therefore, you can transfer it or improve it and it will be valued more and more in the market.
– Social media: Web3 social networks are increasingly converging to metaverses. Little by little the world is building worlds like decentraland, the SandBox or Meta, where users have an avatar and can interact on a 3D platform to chat, post, images or have meetings.
To navigate the metaverses it is necessary to have a metaverse cryptocurrency to acquire content from other users, improve your avatar or buy merchandise, among others.
“At the same time, you can start your own business and start earning cryptocurrencies from other users. At Kravata we work to integrate into the metaverse platforms so that these cryptocurrencies can be converted into the currency of their country or into the currency of another metaverse and take it to be able to interact in that other place”, affirms the expert.
– Art and media: On web3 each person can publish and sell their works of art, objects or music. NFTs are used as tokens that represent said content, thus allowing it to be transferred between people.
There are platforms such as Opensea where anyone can publish their content and others can buy it, additionally, each time said work is sub-transferred, the original creator will receive royalties. All this works automatically thanks to the blockchain.
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