Web3: A New Chapter for Writers.

Web3 symbolizes the third evolution of the internet.

Web1 was about reading, Web2 about writing, and now, Web3 is about ownership.

But what does this mean for writers?

Web2 opened up the internet, enabling users to engage with each other. This led to a surge in digital publications, as authors embraced ebooks, blogs, and online news outlets. However, a drawback of this internet version is that the advertising driven business model has fueled a significant centralization trend, with most publishing platforms owned and governed by central authorities. The reliance on advertising as the primary revenue source for these platforms has resulted in a race to capture user attention, often at the expense of user privacy and a diverse online ecosystem. But why does this matter?

Writers operate under the rules of these central authorities. Despite writers generating revenue, a significant portion goes to the central authority, leaving only a fraction for the writer. This arrangement exposes them to platform risk, where changes in policies or algorithms can have a direct and often adverse impact on the livelihoods of writers.

The central authority dictates the content hierarchy, typically favoring mainstream narratives and suppressing diverse voices. A direct result of the advertisement-driven business model, which prioritizes click-bait content. This ripple effect significantly influences what content readers encounter, shaping their understanding of the world by reinforcing dominant narratives and marginalizing alternative perspectives. This dynamic restricts the diversity of ideas, hindering nuanced and critical discussions.

Web3 changes this. Empowering users to own the internet, it utilizes blockchain technology, smart contracts, and immutability for a trustless and open internet collectively owned by users. A notable distinction between typical Web2 platforms and Web3 alternatives is the integration of tokens. Decentralized platforms use crypto tokens to reward writers… This article was originally published on Nuance. Click the link to read more from the original source: https://nuance.xyz/nuance/4943-434go-diaaa-aaaaf-qakwq-cai/web3-a-new-chapter-for-writers