Web3 and NFT are paving a way for a decentralised future, says BSC News


Published: Fri 27 May 2022, 3:28 PM

Last updated: Fri 27 May 2022, 4:50 PM

While the global population is eager to find new ways to grow and mold an exciting future for the mankind, blockchain innovation in different spheres of human activities is laying the foundation of a phenomenon called Web 3.0. It is pushing towards a web evolution that is more inclusive, less biased, and authoritarian. BSC News outlines how Web 3.0 is a game changer in this internet evolution which has birthed the non-fungible tokens (NFTs), giving artists and entertainers a new autonomy and freedom.

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Web 3.0 envisions a virtual world where netizens can interact and collaborate without worrying about the central repositories that dictate us. “Specifically, it aims to evolve the internet into more accessible and open source to avoid hacks, leaks, and dependence on centralised servers,” remarks BSC News. As advancement in blockchain enables Web 3.0, its application is limitless, especially in the creator economy.

Evidence is replete to affirm that Web3 is incentivising creators and their fans. In purchasing NFTs of artworks like music, videos, songs, digital painting, etc., members are rewarded for betting on the future potential of the content, and artists earn royalties each time the content is resold. “Content creators can leverage this sentiment and gain monetarily in turn. Since NFTs are a digital record of artists’ works, this gives back exclusive ownership rights to the creator, which was long captive to big tech giant platforms in the pre-Web3 era,” said BSC News.

BSC News is a Web 3.0 investor and NFT enthusiast. He is engaged in curating Web 3.0 platforms and is a contributor to the ABC NFT project. Web 3.0 and the NFT industry is signalling a value-driven future free of any choking hold of big tech corporation. Creators and audiences will have a win-win situation.

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