Does Web3 Mean World3? A New World Where Many Industries Will Die If They Don't Adapt?
Web3, decentralization, tokenization, and blockchain technology have changed the game for many industries. It gives people, artists, and users control of their data and productions. We are strategic development partners of NEWM, a decentralized platform for music artists. If you feel Web3 is daunting but have a great idea, AIKIT is the right partner to materialize it. Learn more.
This title carries many questions, but that’s what the concept of Web3 and decentralization brings. A lot of innovation, a lot of revolution, and what seems to be a lot of justice, but those positive aspects are blurred by lots of questions.
The truth is that no one knows the depth of Web3’s impact on society, the economy, and everyday life. Much like when in the mid-90s no one truly imagined how the internet would shape our lives. Many industries, almost all of them, are centered around control. Controlling their users, controlling data, controlling their processes. That has become their secret source to live in the revenue heaven.
Social media platforms changed the world, but they brought a severe issue to the spotlight, and that’s how people want to control their own information. Users do not entirely care if companies make a profit, in fact, they are the reason why these companies are profitable. But having their personal data exploited without their consent is what bothered something deep within them. And now data and privacy policies are the gold standards for every startup, even before they launch.
This situation made decentralized platforms the beloved partner everyone was wanting. Users could control their information, businesses could still carry out their profit models (most of them) and in some industries, the middle-men and middle-women suddenly gained control of their “thing”. Something they never had before. And we are specifically referencing the music industry.
Forget the international stars with multimillion record deals. Focus on the upcoming artists, most of them do generate millions of dollars of revenue, but they only see cents on the dollar. And that’s due to an old standard of abusive legal contracts. Up to a degree where the artist became a dancing monkey, much like a puppet. Without control and in some cases ownership of their musical creations. But in the past era, without a record label, an artist could not be heard massively. Spotify, YouTube, and many more platforms started to change that trend. And now, decentralization was the final punch.
AIKIT is acting as a strategic partner, in charge of the entire IT development for NEWM. A decentralized, Web3 platform where music artists will be able to fully own, control, and distribute their art with their communities without record labels in the middle. This is a revolutionary concept that we hope gets implemented in many other industries.
Developing on-blockchain Web3 platforms is sensitive, and it requires expertise. On AIKIT we can provide just that, and help your project take advantage of this powerful paradigm shift.