Why Video Is a Critical Part of Web 3.0
With cryptocurrencies, fintech and similar advanced technologies on the rise, many are predicting the internet’s evolution to its third stage is soon to become a reality.
And it shows. A quick Google search of Web 3.0 pulls a staggering number of results, from articles explaining it to podcasts debating it. It’s obvious the transformation of the web will affect virtually everyone — and people want to find out how.
While things are sure to change in Web 3.0, one remains the same — video is unlikely to go anywhere.
Reports show that 99% of people enjoy watching video content from their brands, and this trend is only growing. A critical part of any business’s marketing strategy today, video resonates across demographics (especially Gen Z) and industries (like gaming) is sure to carry on to the web’s next evolution.
Here’s how video will be essential in Web 3.0.
What Is Web 3.0?
Before we begin explaining why video is integral to the internet’s next evolution, it helps to know what Web 3.0 actually is.
Let’s rewind to the original internet — the days of landlines and web pages like these. Named “Web 1.0”, the first generation of the internet was made up of a bunch of static, brochure-like web pages.
Fast forward to Web 2.0, AKA the internet we’ve come to know and love. The second evolution of the internet introduced us to interactive web pages. In Web 2.0, we give the web info about us that comes back to us in the form of personalized experiences. These include customized social news feeds, personalized shopping recommendations and more.
So what can we expect from Web 3.0? The leaders at the forefront of the tech space are predicting the next web will be defined by these elements:
- Completely decentralized networks
- Users owning their own data
- An erasure of third parties
- Autonomous technologies
In fact, we can already see examples of Web 3.0. For instance, it’s likely you’ve heard of (or even purchased) bitcoins and NFTs thanks to the rise of fintech. The technology behind these? Blockchain — critical to decentralizing the web and propelling it to its third stage.
Hyper-Personalization Will Become the Norm
One important feature of Web 3.0 is hyper-personalized experiences. Predicted to become the norm, AI will play an integral part in Web 3.0.
As AI becomes just as smart (or smarter?) than humans, it will be able to receive data we input into the web and then generate the appropriate, desired result — providing us with the hyper-personalized experiences we expect from in-person communication.
So how will video lend its hand in this? With innovative technology driving the dynamic video revolution, today’s videos are becoming increasingly personalized. We’re talking 1:1 communication with millions of customers around the globe via videos rendered in real time. It’s already happening.
Consumers Will Input Their Own Data
Among the ways we input our data, one already available is user customization. And it’s likely to increase in use as the web evolves, as (no surprise) it’s been proven to boost audience engagement.
Take a look at this example of how user customization can be implemented with Living Video. This video was created for Morgan, but if you click the lightning bolt in the player, you can update it to show your name. You can even add your own image and text.
This personalized magic show is just one example of how user customization can help provide the immersive experiences we’ll come to expect in the new web. Users can now input their own data straight from the video player. The resulting video is entirely unique to the viewer — who has now become the creator.
And data collection critical to Web 3.0 will be even easier with in-video user customization. Users will be able — and eager — to enter their own data. Users are more likely to share their data when they get something of value, like a personalized experience, in return.
Tech note: A viewer customizing their video is just one way they can interact with it. They can also choose scenes, click to another web page, change the flow of the story (as shown with the magic trick above) and more.
We also mentioned that Web 3.0 will likely become autonomous. Rather than just numbers and keywords, programs will be able to process data at both a conceptual and contextual level.
How can video play a part if it requires human intervention for updates or edits?
With the latest technology, that changes. Living Data gives videos the capability to update in real time based on context. Some of these contextual elements viewers might see include:
- Their weather
- Their time
- The device they’re viewing from
- Current inventory for a product
- Current flight prices
- And more…
The video will be always updated, endlessly evergreen, without needing to even click a button — critical to web 3.0.
Video’s Role in Web 3.0
In its transformation to Web 3.0, the internet will become increasingly hyper-personalized, autonomous, decentralized and interconnected, and video is an essential tool to deliver those experiences.
Personalized, interactive, customizable, auto-updating, built for the evolving web — videos created in our Next Generation Video Platform give your customers an immersive experience that drives real ROI. We’re talking 9x higher conversions, 20% lower churn and 5x uplift in revenue.
Are you ready to transform your next video marketing campaign? Let’s talk.