Web3 is gaining momentum globally and many are beginning to see the opportunities that come with it. The internet has always presented various opportunities and innovations right from its inception.
In the 90s, the first version of the world wide web (WWW) was invented which was a read-only internet — this means that users can only read the information on the web but cannot interact or give an opinion. Web 2.0 evolved which remedied the limitation of Web 1.0 since it allows users not to only read information, but to interact properly by sharing information, analyzing, and leaving a comment or view. However, the web 2.0 version also possessed some limitations.
Web3 is the new generation of the internet that is expected to give a better user experience. It also presents various benefits including investment opportunities to its users.
This article will walk you through how to invest in web3, how to get into Web3, and what Web3 is with an in-depth explanation.
What is Web3?
Web3 is the newest internet innovation that is assumed to gradually dominate this generation. It is a decentralized internet that doesn’t only provide data and allows users to interact but will give users the liberty to control it. Instead of the web 2 version that is contracted by an individual or a company, web3 will be controlled by the users.
The Web3 version is backed by Blockchain technology and it plays an important role in cryptocurrency, NFTs, the internet of things (IoT), and the metaverse. The AI (artificial intelligence) features will enable data to be analyzed, interpreted, and understood without human action because it can interact with human emotions.
You may want to know how to get into web 3 and enjoy these features, let us discuss that.
How To Get Into Web3
The web3 space is a fascinating space that you would be interested to get into, below are steps you can take to get into Web 3:
Understand The Basic Concept
The first step to getting into Web 3 is to get a basic understanding of web 3 and its concept. No one can indeed play an active role and benefit without gaining an understanding of basic concepts, principles, and implementation.
The web3 space is broad and to take part in it, you must go for the knowledge and Understand its features, principles, and vision.
Understand Blockchain technology
Blockchain technology is the bedrock of web 3, it is the backup of its decentralized features.
Opportunities present in Web3 have greater involvement in blockchain technology. You can understand web 3 more if you dedicate time to getting educated in blockchain technology with a ready mindset to explore its opportunities.
Get educated in DApps, Smart contracts, Nuts, cryptocurrency, etc that are powered by Blockchain technology.
Become a Web 3 Developer
You can get into Web3 by becoming a web3 Developer either a front-end developer or a back-end developer of web3-based projects. As a front-end developer, you should be able to understand HTML, JAVA script, CSS, etc. You should also explore Backend development.
Understand The Concept Of Web 3 DAO
You can also get into Web3 by learning DAO and building NFTs, DApps, Defi, etc. This is also a part of Web3 you should explore.
Invest In Web3
You can also take part in Web3 by investing in it. You can invest in Web3 stocks, cryptocurrency, knowledge, etc.
How to Make Money In Web3
The web3 space is rewarding and you can make money massively in it.
How do you do so?
The following steps will show you how to make money on web3
Invest in Web3
You can make money in web3 by investing in web 3-based products such as cryptocurrency and stocks. Cryptocurrency investment is risky due to its volatility but can give significant profit if you have the investment knowledge and analyze projects before investing.
Play to earn
Another money-making opportunity in web3 is the play-to-earn availability, play-to-earn allows users to earn rewards that can be converted to money through game playing. In web 2, gaming is a fun activity, especially online games and you even have to pay to play but in web 3, you earn while you play. You can take advantage of this.
Create Web3-based stores
You can make money in web 3 by building your own web 3 stores such as Shopify and earn from its users and patronage.
Create, Buy and Sell NFTs
NFTs are a huge part of Web 3 that you can make money from, you can create, buy and sell NFTs in various Nft marketplaces and earn money based on the value of the NFT.
- Invest in Metaverse.
Metaverse gives room to own digital properties such as a piece of land that you can buy and sell when it is valuable.
- Take Advantage of Airdrops
Airdrops are introduced by new projects as a way of creating awareness and attracting investors, in the web 3 space, new projects continue to evolve and give airdrops. You can make money by taking advantage of these airdrops.
Web3 slang and meaning
The following are web3 common slang:
DAO: this stands for decentralized anonymous organization
MOON: this is when a project gains an increase in price and value
DYOR: This stands for “do your research”.
FOMO: FOMO is an acronym for “Fear of missing out”
WAGMI: this is an acronym that means “we all gonna make it”.
DEFI: this acronym means “decentralized finance”
RUG PULL: this is a situation where web 3 investors are scammed by project developers.
API: it is an acronym for the “application programming interface”.
Bull Run: this slang is used to state that Projects in web 3 are in the moon season.
BEAR: This is slang to identify when the market is down.
How To Invest In Web3
Web 3 creates room for investment opportunities, one way you can invest in web 3 is by investing in Cryptocurrency.
You can invest in cryptocurrency by conducting in-depth research on coins and projects with great utility and the possibility to give profit in the short and long run.
You may be skeptical because of the volatile nature of cryptocurrency but it is the major way of investing in web 3 for profitability if you do proper research and analysis.
Another way to invest in Web 3 is investing in Web3-based stocks, many companies with massive returns create stocks and list them on web 3 for investors, you can take advantage of that opportunity by buying the stocks.
Additionally, you can invest in web 3 by buying NFTs in Nft marketplaces and reselling when there is an increase in value whether long-term or short-term.
Lastly on our list is taking advantage of the metaverse investment opportunities by buying properties in the metaverse and reselling when there is a price increase.
Video Credit: The Metaverse Economy
FAQs
The following are frequently asked questions:
Can you invest in web 3?
From the above discussions, you can invest in web 3 through cryptocurrency investment, NFTs, Metaverse, stocks, etc.
Is Web3 Crypto?
Web 3 is the fast-rising new generation internet backed by blockchain technology that will dominate the world. Web 3 is broad and not only about crypto, cryptocurrency is part of the web 3 transition and will be greatly in use.
What is the best Web3 Crypto?
There are various cryptos that you can buy now such as $Polkadot, $Helium $THETA, etc. It will be difficult to specify which is best, you can do your research.
What stocks are in web3?
Stocks in web 3 include Coinbase global, Apple inc., IBM, Navida, Facebook, etc.
Conclusion
The Web 3 space is filled with innovations and opportunities ready to be explored, it is growing in fast momentum and presents a decentralized system backed by blockchain technology.
You can take advantage of investment opportunities discussed in this article and earn money from web 3.
This article doesn’t limit investment opportunities to what we discussed but it states top-rated opportunities that you can try out.
We hope you enjoyed the read.