Web3 is the name for what the World Wide Web is expected to evolve into. Web3 will be based on decentralized peer-to-peer technologies such as blockchain and digital currencies. Other technologies which will play a key role in unleashing Web3 will include Microformats, data mining, natural language search, and machine learning. Web3 will catalyse the merging of digital and physical worlds. Concepts such as the Metaverse are expected to make the digital world an integral part of everyday life. While it will take a while for Web3 to fully materialize, it is important for marketers and advertisers to begin to adjust to the new reality.
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The result of the rapid rise in concern for how personal data is being collected, processed, and used by corporations will be that Web3 advertising will largely be influencer-led. Because very few, if any, internet users today trust corporations enough to give them all the permissions they need to collect personal data to the level they would like or trust them to use it in a way that is in-line with the desires, interests, or ethics of the user.
However, this will not be the case with influencers, because they can develop a more intimate relationship with their followers and build trust to such an extent where their followers are willing to grant them full access to their personal data for advertising purposes, among other uses. It is for this reason that Web3 advertising will lean more into influencer-led marketing.