What is Web 3.0 media?
This is something we discussed for more than a year now. When we look at the entertainment industry, we are seeing revolutionary change happening before our eyes.
There are a number of problems with the traditional media landscape. The most glaring is how centralized it is. Television still dominates all video, something that is surprising considering the changes the industry went through. That said, it should not take you completely off guard since I am convinced demographics have something to do with that.
Web 3.0 offers an alternative. By turning to decentralized solutions, we can see a different future unfolding. Actually, decentralization could give the wrong idea although that is part of it. Perhaps we have to focus upon the fragmentation.
Here is where Web 3.0 excels.
Image generated by Ideogram
What is interesting is our present world if fragmented.
Think about all the services you engage in. Just consider the number of accounts you have to deal with.
When it comes to finance, we have our bank (or banks). There are separate institutions for our savings versus our investments. Normally, we are dealing with different companies. We will turn on the television and tune in to a particular channel. Then we might shift Netflix to stream something.
If we want music, Spotify could be our destination. Or maybe we jump onto YouTube.
Of course, our jobs are another entities, with passwords and usernames to access the servers. Do you have insurance? Different company. Have a car loan? Probably different from your bank. Want to do some shopping? Amazon is there for you.
What do all of these have in common?
The answer is nothing. None of them are related. We can see some situations of overlap but that is rare. One could shop at Amazon while also watching Amazon Prime services.
If we take this idea from the account perspective, we can see how different things are.
What does Web 3.0 offer? Something entirely different.
The answer to this is wrapped up in the bigger picture.
When we are dealing with a network-state, we can see how the ability to utilize services tied to it is natural. Why wouldn't one turn to Web 3.0 media if it was part of a larger ecosystem especially if one had stake in it?
To me, this is what is overlooked by the masses, even within Web 3.0.
It is where the cooperative idea gets lost. Instead of focusing upon building what is in their neighborhood, they run off to adjoining ones to focus their attention. That makes no sense.
This concept applies to everything. Media was chosen, however, because it is in so much turmoil.
We have this headline fro CNBC:
There are many reasons for this, most outside the scope of this article.
The point here is the dollars are being adjusted. Hollywood is feeling the pinch. So is traditional television. Late night shows are in the toilet. The same is true for the cable news channels.
As we know, the top streaming service is a technology company.
This is fragmentation.
We are still in the infantile stages of AI.
That said, things are moving quickly. Web 3.0 could ride this wave for massive market share. Keep the fragmentation concept at the forefront of your mind.
Decades ago, the traditional media companies monopolized not only content creation but also distribution. That was disrupted by the Internet. That said, for decades, the quality of most of what was out there didn't match up.
We are going to see this changing. Each time you see a demonstration about how Sora is improving the tools available to Hollywood, expand that out to most everyone.
It is likely, that within a couple years, individuals are going to be able to put out feature length AI films at near cinema quality. Naturally, this will not only be Web 3.0.
Here is where things shift.
How do you get attention in a fragmented world? What is going to bring eyeballs to your film?
Web 3.0 offers the solution via the network. There is a built in audience of people who are likely to support the work. Of course, there are different pricing models that could arise. The point being is 100K people who are tied to a network, that is a built in community. If the majority of those people understand the idea of a cooperative, i.e. Web 3.0 concept, then the chance of them viewing the film is enhanced.
The reverse is also true.
When one starts to cater to the Web 3.0 audience, he is she is part of it. This means that we start the process of integrating ourselves with all else that is happening. Here is where the larger picture appears.
Going back to the account, this is where we start to eliminate a lot of those accounts. We have our monetary situation through out wallet, gain the ability to swap assets, indulge in media, go shopping, and a host of other activities.
All on one network.
Web 3.0 is the easiest starting point since it is already in disruption and the barrier to entry is low. Yet, as we can see, this is all part of a much larger backdrop.
