Last Thursday, Lloyds Banking Group’s Fintech Investment Director Kirsty Rutter named Web3 as a key fintech trend for 2023.
The company representative outlined how Web3, its bespoke communities, and integrated technology present a new avenue for fintech opportunities.
Rutter notes that following from Web2’s user-generated content (UGC) model, Web3’s decentralized infrastructure spreads digital ownership across “builders and users” over “big tech firms” that owned previous iterations of the internet with centralized systems.
Web3 and XR
Many Web3 services integrate augmented, virtual, and mixed reality (AR/VR/MR) content. For example, many Metaverse services, such as Decetraland, The Sandbox, and Horizon, employ decentralized monetization models to fuel bespoke UGC creation.
While the unstable crypto market and seemingly, at times, lonely Metaverse platforms do lead to scepticism about the future of Web3 platforms, examples of successful consumer-grade Web3 and Metaverse opportunities for brands and marketing teams do prevail.
A notable example is NIKELAND, a…