Without mincing words, the internet has had an enormous impact in every sphere of human endeavors. It has aided communications, interaction, and trade. Still, along with these benefits came centralization and global-scale monopolies as tech corporations became powerful.
It is estimated that Facebook has almost 3 billion monthly users, while Instagram has 1.3 billion users. Google also accounts for more than 92% of all online searches. In other words, the internet has created the monopolization of data and the ability for this data to be used to target users. This effectively turns users into a tool for commerce and businesses, while personal data has become a product that is sold through advertisement.
From Users to Members
The main tenets of web3 are decentralization and individual ownership, where online communities are created toward achieving common goals. Through NFTs, digital inclusion has further taken a new shape by transforming users into community members with a voice to contribute to the common objective.
NFTs now serve as the gateway to creating a cohesive online community where users can enjoy exclusive content in a manner that is consistent with what they intended. NFT project such as BAYC has already shown how NFTs could be used to create exclusivity for holders.
In essence, users can now cut out the forced advertisements that they are subjected to on social platforms by owning NFTs that are tied to the kind of content that they wish to associate with. They also have the right to make meaningful contributions when necessary, thus, shifting the status from mere users to contributing members.
Reward for Creativity
Today, there are thousands of creators around the world. From video content creators to artists of all kinds.
NFTs now make it possible for these creators to build something for themselves. Content creators can simply sell off their works as NFTs while taking their profit. At the same time, stock image photographers and digital artists can now sell their works as NFTs at a higher value instead of waiting on image platforms to earn a commission.
NFT is already informing a new kind of global digital inclusion where all users are members and all creators have the ability to monetize creativity and earn accordingly.