With changes in technology, advertising media has changed from traditional forms to a mostly digital capability. While advertisers are looking for ways to improve ad visibility and increase conversions, consumers are also looking for ways to move away from traditional systems and dictate a shift towards transparent use of information. Web 3.0 and Metaverse emerged as a solution to longstanding consumer demand.
For example, Web 3.0 represents a transition to individual sovereignty on the Internet. Repeated abuses of power by social media platforms and centralized authorities have spurred users to favor decentralization, which has been a major reason for the rise of Web 3.0.
The current direction of the Web 3.0 industry is heavily focused on superficial projects such as non-fungible tokens. Digital collectibles have become one of the fastest-growing examples of Web 3.0. However, this technology promises users much more than just digital art. The key phenomenon in the Web 3.0 concept is interoperability. If the concept remains viable, it will be interesting to see how advertising evolves in this space and takes advantage of the single Internet. Despite the decentralized nature of blockchains, companies can have an unprecedented level of freedom to interact with potential customers.