The term “Web3” refers to the forthcoming iteration of the Internet based on the ownership of digital assets in online ecosystems.
The core building blocks of Web3 are distributed networks known as “blockchains.” Blockchains allow users to securely and transparently own and transfer assets on decentralized networks where no central entity can control said assets.
These on-chain assets can be divided into two groups. One group consists of fungible tokens, which function similarly to traditional currencies, and are often referred to as cryptocurrencies. The second group consists of non-fungible tokens (NFTs). NFTs, unlike cryptocurrencies, are uniquely distinguishable from one another. They often serve as digital collectibles, but are capable of being used in a wide range of innovative use cases. Since they exist on the blockchain, NFTs can be owned, transferred, and their authenticity can be reliably verified.
Building ecosystems on NFTs as the underlying units of ownership opens up a world of possibilities for monetization that inherently benefits both creators and users. As decentralized ecosystems that allow for digital ownership of various assets become more prevalent, Internet users will no longer be reliant on centralized platforms that monetize personal data and have full control over every aspect of their accounts.
However, while Web3 promises to liberate Internet users from the grip of web2 behemoths, it currently suffers from four main obstacles:
As with any emerging technology, high-quality educational resources are crucial to establish a knowledgeable user base and avoid misconceptions among newcomers. This is especially relevant to Web3, as the technologies involved are already fighting an uphill battle against negative perceptions due to bad actors within the space.
While ponzi-like crypto scams and catastrophic failures of major institutions in the crypto space dominate headlines and have convinced large swaths of the world’s population into believing anything related to blockchain is inherently fraudulent or glorified digital gambling, the true purpose and vision of the technology couldn’t be further from this perception.
Web3 has the potential to completely revolutionize the way the Internet functions to the benefit of application creators and users alike. There is already a plethora of Web3 applications that utilize NFTs to distribute ownership of the platforms themselves and transform membership into a valuable resource in and of itself. Blockchain-based supply chain tracking platforms offer transparent and trustless systems for monitoring the transportation of physical goods, and Web3 social media platforms are poised to mitigate the monopolization of online media and misuse of user data currently overseen by social media corporations.
This handful of use cases only represents a tiny glimpse of the existing Web3 ecosystem and constitutes a miniscule fraction of the potential of Web3. However, the vast majority of Internet users have little to no exposure to any practical Web3 use cases. As the next iteration of the Internet grows and evolves, the number of potential Web3 users continues to lag behind.
A large part of the blame for this discrepancy can be placed on the notable absence of reliable and high-quality Web3 educational resources. Even those who have a strong desire to educate themselves about and participate in the Web3 space may find it prohibitively difficult to get started. Without a concerted effort to improve the quality, quantity, and availability of Web3 educational resources, its pace of adoption will continue to drag.
NFT Insights is a not-for-profit organization that seeks to facilitate Web3 education and accelerate the mass adoption and responsible development of the technology.
Its goal is to dispel the common misconceptions surrounding Web3, highlight its potential, and help users get started in the space with a solid foundation for growth and expanding their social networks. By increasing awareness about innovative Web3 projects and educating a wider audience about the underlying technology, NFT Insights strives to effectively “innoculate” the general population against crypto scams and onboard them into an ecosystem from which they can greatly benefit.
The domain expertise:
NFT Insights’ activities are divided into five main areas:
Launched in September 2022, the NFT Insights Events Series brings thought leaders and top industry figures together with aspiring creators, enthusiasts, and Web3 users. The events feature presentations on various aspects of the Web3 ecosystem ranging from intellectual property, legal agenda, and NFT legislation, to NFT technology, advancements, and its uses, to NFTs in the art world, innovative new collections, and what the future holds.
Comprehensive and accessible education resources are crucially important to bolster awareness and understanding about Web3. NFT Insights will be launching a series of online courses aimed at NFT novices on a variety of topics within the space.The online courses will consist of:
Many companies need to get their staff up to speed on Web3, or simply get a quick orientational intro to the ecosystem. The experts at NFT Insights offer consultations and educational workshops to individuals and companies to fill in the gaps in their NFT education and keep them up to date with the latest happenings.
NFT Insights can provide workshops: Intro into Web3 & inclusivity in Web3
As one of the core activities is educating communities about Web3, NFTs, and the metaverse, we want to bring the mentorship as a momentum for aspiring women and anyone to help them with their first steps in Web3, NFTs, and the metaverse. Our mentoring is open to everyone with an emphasis on women, due to the significant gender bias that currently exists in Web3. We want to be a driving force for change, to move the needle, and to create a more inclusive environment around technology.
All of the above-mentioned activities are part of a greater effort to contribute to building and growing a thriving Web3 community. Communities power everything we do from solutions and products to the culture we are building around Web3 and NFT projects. Bringing people together through events or via social business and working on Web3 projects creates a sense of belonging and knowledge sharing. Our educational efforts are complementary to nurturing an active and engaged community, and our activities are dually focused on both end goals.
As a not-for-profit organization, NFT Insights is partially funded by sponsors. The sponsorship itself will be based on a Web3 model, whereby sponsors receive an NFT that carries various benefits and gain access to exclusive resources and events. All revenue from sponsorships, events, and online learning resources are put directly back into furthering the goals of NFT Insights.
NFT Insights functions as what’s known as “social business.” A social business is a type of business model that seeks to achieve both economic and social value. Social businesses are focused on creating positive social and environmental impact, rather than just maximizing profit.Social businesses can take many different forms and operate in a variety of sectors, including healthcare, education, clean energy, and affordable housing. Some common characteristics of social businesses include:
Social businesses can be structured as for-profit companies, non-profit organizations, or a hybrid of the two. They may be owned and operated by individuals, communities, or larger organizations.
If you give a donation to charity, they spend it to deliver social value - once. If you give a donation to a social business, it is invested into a cause according to a sustainable economic model. This means that your donation keeps delivering social value in perpetuity. This is a game changing model that earned Muhuammad Yunus a Nobel Peace Prize, and we are humbled to have adopted it.
NFT Insights seeks to become the predominant guiding force in the emerging Web3 ecosystem. Educating users about the technology itself, its uses, and best practices will facilitate the mass adoption of Web3 and usher in a new era of the Internet.
By reaching new users, educating them, and connecting them with the leading figures in the industry, NFT Insights will help raise a new generation of Internet users. This new generation will have a firm grasp of the benefits of the technology, the pitfalls of the space and how to avoid them, and how to leverage Web3 to ultimately lead a better life.