Introduction

In view of the flourishing cryptocurrency market and decentralized applications, the market is given a greater scope of future and imagination. Most notably of all, Web3 is becoming a phenomenal opportunity on par with bitcoin.

What is Web3?

Web3 is comprehensively defined as "a web that transforms the Internet itself into a pantheon of databases; cross-browser and hyperbrowser content delivery and requesting mechanisms along with artificial intelligence technologies; the semantic web; the geographically mapped web; websites built using 3D technology and even virtual worlds or cyber principalities".

Understanding from a technical perspective, by all accounts "Web 1.0 is read-only, Web 2.0 is read-write and Web3 represents read-write with information". Whereas, when it is deemed from the perspective of the cryptocurrency market, Web3 acts as an ecosystem that comprises a series of projects such as DeFi, NFT, GameFi, etc. More precisely, users are able to set foot in Web3 by participating in these projects and seizing revenue opportunities from it.