Web3

Web3

What's all the buzz about?

The future of the internet?

Hi there team,

I hope this finds you really well. I've had a very productive week and hope you have too. I'd like start by extending a warm welcome to our new subscribers. Great to have you here.

Today I'm writing to you from Spain where I'm meeting up with my parents, Sheila and Peter, who are visiting from Sydney. Sheila is the essentially the reason I started LUXTRA - you can read more about that here. Unfortunately only 3 hours into their trip, Mum had her bag stolen (passports, cards - the whole kit and caboodle) - so please, please, please, everyone, be vigilant with your belongings wherever you are in the world.

We're keeping our chin up and are off to enjoy the beauties of Madrid. So let's get on with the main story of today: Web3

Over the past 2 weeks I've been interviewing candidates for an exciting new position at LUXTRA. I'll reveal more once the ink has dried on the contract but I've had the opportunity to meet with some fantastic people during the interview process - every one of whom has taught me something invaluable.

Today however I want to spotlight one individual in particular – Sylvia Martínez Cerezo – who is a fashion futurist, digital fashion designer, artist and activist and who opened my eyes to the possibilities of Web3.

Many amongst you will have heard of Web3, and perhaps like me, gone off to investigate what it's all about. Perhaps, also like me, you will have gone in search of YouTube videos to explain, and learned that basically no one even knows what Web3 is / will be… and then promptly abandoned your investigation, just like I did.

But Sylvia's excitement and passion piqued my interest again, so I went searching for more information. Here is how some experts explain Web3:

"Depending on whom you ask, Web3, a new iteration of the internet based on blockchain technology, is a form of monetization, the future of organizing, or a get-rick-quick scheme.

But amid this debate, many companies are already testing a range of ways to create value — from increasing brand awareness to experimenting with new models of product ownership — using Web3 tools. These initiatives mark both a technological advancement and a new approach to corporate strategy."

How some envisage the future of fashion in the age of Web3

But let's rewind to make sure we're all up to speed with the definition of Web 1.0 and Web 2.0 before we wade deeper into the weeds. Note: what follows are not hard and fast definitions, but rather my way of explaining it.

As I'm sure you know, the internet as we know it today came about in the 1990s: this is what's typically known as Web 1.0. The era of Web 2.0 begins with social media and is very much associated with the commercialisation of the internet.

Quite a helpful infographic showing the evolution of the internet

Sylvia and I spoke at some length about what Web3 means for the fashion industry. Whilst some of the discussion overwhelmed me, the key take aways for me were the following.

The first was that the best place to learn about Web3 is on Twitter. Sylvia highlighted a range of accounts to follow, with one of the best being The Fabricant. As a result I now have a shiny new Twitter account (follow me at @jessie48410061).

Here is the list of the other Twitter accounts Sylvia suggested I follow to stay up to date with Web3 Fashion 


Sylvia also suggested that it tends to take a few months to get up to speed with the lingo and what people are saying about Web3, but with a few months of effort, you'll begin to see it's the same people talking about the same things, so persevere and you'll soon be up to speed.

Finally, Sylvia highlighted the fact that because Web3 is still very much nascent, if a brand wants to start to get involved in Web3 it needs to be clear on its reasons. Most often it's for brand awareness and PR, because as yet there aren't straightforward ways to monetise a presence in the Web3 universe.

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I'm excited to start exploring this brave new pocket of the internet, but right now I'm excited to get out and explore Madrid and cheer my parents up.

Over and out from my side.
Keep well and keep an eye on those valuables!
Jessica

Founder | Web3 Newbie | Proud B-Corper

 

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