Now is the time to be investing in web3.
Emery EXP explains, “You get into it early. In order to get it, imagine if you had bought a domain like bose.com or you had bought a more major domain, like if you had bought the domain for Amazon in 1995. If you had bought the domain Netflix early on, you would have theoretically had the ability to buy more things through that domain name ahead of time. Domain squatting is what this is called: you can buy domains and just sit on them and then resell those domains when users want them down the road.”
Welcome to Web3. The basic idea behind Web3 is to take the Internet as we know it and add blockchains – the technology behind cryptocurrencies like bitcoin – to everything. This means that there are blockchain-based Web3 sites that will be up for grabs, and people can buy domain names there, just like in the early days of the Internet.
“Investing in just the domains, in just those platforms, is going to make a lot of people a lot of money,” says Emery EXP. “Web3 is all controlled by the individual users. There is no centralized authority. There is no individual company out there that’s taking all these votes. At least that’s how it’s supposed to work. I already hear people saying, ‘Well, why isn’t some large company like Google just going to come in and buy up all the shares of whatever companies that they’re going to?’ They can, and there should be things in place to stop that.”
Thankfully, Emery EXP states, there are some chains like on Cryo Comm (which owns crypto.com), and this CRO chain has a built-in mechanism to prevent you from buying so much per day on certain types of coins so that it can prevent a large whale like Google from coming in and buying up all the coins on there in one day. This democratizes the process and gives people a slow, steady entry point, what’s called dollar cost averaging, in that it forces everybody to do $1 cost averaging so that one whale can’t come in and buy everything.”
At the center of Web3 are distributed applications known as “dapps” that were built using the Ethereum blockchain, which pays funds to users who help keep its network online. Dapps will potentially play a comparable role for Web3 that the App Store did in unlocking the potential of the smartphone, specifically the iPhone. Dapps will allow wide-ranging use cases to be created, which will happen when more third-party developers start to release more Dapps built on the Web3 blockchains.
Web3 is a decentralized, user-based platform where the users own the platform. Google doesn’t own your data; you own your data. For any transactions of a certain coin or chain owned by users, the profits from any sale don’t go back to Google or a large player. They go back to you as their shareholders of that coin.
Emery EXP explains, “This is the prime power of Web3 – it takes the power away from the mega millionaires and billionaires of the world and puts it back into the users’ hands. Why do you think Facebook is getting in now by creating Meta? Because they understand that this is happening. And Mark Zuckerberg is not stupid. He is taking that opportunity to beat us to the punch. It’s time to take action.”
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