We discuss many paths that could unfold regarding Web 3.0 in the future.
This is done to provide everyone with scenarios about how to best position themselves for the seismic shift that is taking place. Much of the basis for these conclusions has nothing to do with Web 3.0 but, rather, larger trends that are in play.
In other words, we take what is happening and try to offer ways to present Web 3.0 as the solution.
As stated on numerous occasions, the reality is that Web 2.0 falls short in a crucial area: equity. While some platforms are offering advertising sharing, this is simply addressing income. That tends not to lead to major wealth generation. Equity positions can especially when a platform (ecosystem) takes off.
Today, we will go through something that is vital for the future of Web 3.0. Actually, this is something that has to be addressed as quickly as possible.
The Next Phase of Web 3.0 Is Social Video
We all know how powerful video is.
This is something that has always garnered out attention, at least for the last century. Hollywood exploded due to the technological advancements regarding this media. First there were silent films, followed by "talkies". Of course, television emerged as a major medium as it brought the world into our living rooms.
The Internet is not different. Early technology, due mostly to bandwidth, was text. When video was possible, the time spend exploded.
It also completely altered the distribution channels. This was something that the traditional companies did not see coming.
In the future, as we will explain, things are going to get even crazier.
What Is Social Video?
Before delving into this, we have to share what social video is.
This is something that is based upon the concept of "good enough". Examples of this are all over YouTube and other social media platforms.
A social video is one that conveys either information or entertainment yet lacks the high quality standard that we are accustomed to from the major media studios. Nobody will ever confuse a YouTube video with a broadcast production.
That said, what is on YouTube, in most instances, tends to be "good enough". When viewing something for 5-10 minutes, the video quality is not important. While cinematographers could see a host of problems, the average users isn't concerned.
These "amateur" productions are taking over for one simple reason: the sheer quantity of them.
Each year billions of hours of video content of this nature is consumed. Look at this chart.
Source
According to this, based upon the US, this is over 300 million hours of social video consumed daily.
Everyone Is Getting Into The Game
Social media is cross pollinating. While most still think of it as niched, that is changing.
All these have social video capability:
The list goes on. We didn't even mention the "alternative" video platforms.
There is little doubt the amount of user generated content is starting to rival that of professional organizations.
AI Technology
We have to mention the next phase in video creation that is going to disrupt everything.
At present, there is still a large gap between the work of professionals and that done by users. What is important to realize that, through the advancement of artificial intelligence, it is likely that the quality of social video keeps improving.
Media companies are already implementing this technology. The issue for them is the tech is available, to some degree. to most. While the free or basic packages might not carry all the features as their more expensive counterparts, the ability to improve social video is expanding.
In other words, as the higher end stuff improves, so does what is available at the lower end. The paid version of Gemini, as an example, is much better than the free version. However, the latter is much better than what was available a year ago.
The Web 3.0 Disruption
If Web 3.0 is going to disrupt things, it has to align itself with the growing trends.
Social video is a massively expanding arena which is not likely to slow down anytime soon. As people gain more powerful tools, it is simply going to become a bigger player in the "attention economy".
Here is there the concept of the network-state once again enters.
Ecosystems have to cater to their "citizens". To do this, all forms of media are required. Without video, we are missing the major [rend that is taking place.
Web 3.0 is designed for social video. After all, the entire premise is decentralization and moving away from centralized controlled. What is more controlling than the traditional media companies? Here is where we see the ability to radically alter the business structure of the industry.
Make no mistake, this is underway. YouTube already started the process. Now we have Rumble in the game. Elon Musk and Twitter is taking a bigger stance on this, providing an outlet that counters the legacy media.
All of this is leading to a massive shift.
Video is going to be something that ecosystems will naturally provide. Not providing this would be akin going to a town without a grocery store. It is simply incomprehensible.
That is how we will view video in the future. Those Web 3.0 networks that are focusing upon this will get a leg up when it comes to the race ahead.
It simply is a large part of the attention economy.