Thread 🧵: Web 2.5
What is Web 2.5 & how is it different from #Web3?
What is Web 2.5 & how is it different from #Web3?
Why is Web 2.5 essential for Web 2 companies to enter the Web 3 space?
Is this just marketing jargon or do they have any genuine meaning behind them?
Learn more about this new buzzword in this thread👇🧵: (img src: @crypblizz)
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TLDR:
• #Web2 led to monopolies in tech
• Web 3 replaces the middlemen with the help of blockchains
• Web 2.5 serves as a "bridge" for Web 3
• Users can use their Web 3 assets within the Web 2 business
Will Web 2.5 make it? Read till the end to find out!
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Web 1 possessed static, read-only pages. Users could not interact with or modify any variables
Web 2 allowed users to interact with the web page, allowing them to post pictures, order food, write tweets, etc.
However, Web 2 also led to tech monopolies in the market
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Web 3 replaces the middlemen with the help of blockchain and transfers the power from tech giants to individual creators & artists
However, it is challenging to bring about a paradigm change and persuade everyone to adopt a new technology
That's where Web 2.5 comes in!
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Traditional Web 2 businesses have become increasingly interested in incorporating Web 3 technology to keep up with the evolving Web market
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Web 2 companies want to leverage their existing Web 2 network effects, finances, customer base, and growth to experiment & innovate with Web 3 assets
They want to experiment with Web 3 products, in order to introduce their current users to the emerging Web 3 market
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Despite the problems of Web 3 (scalability, privacy, security), they still express interest which indicates a clear market interest shift from Web 2 technology
Unfortunately, there are too many risks when shifting completely to a Web 3 business model
So,
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Web 2.5 serves as a "bridge" for the current generation of Web 2 businesses to enter the realm of Web 3 without disrupting their existing business models
Thanks to Web 2.5, users can use their Web 3 assets within the Web 2 business infrastructure of the company
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@coinbase, @opensea, @Meta are all centrally governed organizations that adopt Web 2 models of development & growth to serve the Web 3 market
Brands from every Web 2 industry (such as the media, fine art, sports, music, fashion, and finance) have started to delve into Web 3
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But why do they have to use the old Web 2 practices when they could just switch to a newer decentralized Web 3 version?
B/c right now Web 3 is a flawed model for Web 2 corporations
Web 3 business models have not been battle tested enough for corporations to hop on now
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The Web 3 governance systems either cannot make quick decisions, or there is a monopoly involved in the voting process
Web 3's open-sourced nature, permission-less systems, and preference for user control(DAO) for governance may not be acceptable to Web 2 businesses
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Corporations must abide by the law in order to do business, but they may need to break some laws in order to transition to a fully Web 3 business model
So, if Web 3 possesses too many flaws right now, how can Web 2.5 be beneficial for both large corporations & users?
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Web 2.5 companies can follow the Web 2 infrastructure, abide by the law & still offer Web 3 services
Ex: @coinbase
Web 2.5 companies can act as distribution platforms for Web 3 products (NFTs), which most Web 3 companies lack
Ex: @Reddit's NFT marketplace
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Web 2.5 companies bridge the gap b/w physical & digital worlds, increasing the utility of Web 3 products like NFTs
Ex: @RTFKT
Web 2.5 companies use Web 3 products to distribute their NFT-based IP, which fosters both communities & increases the rate of Web 3 user adoption
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Web 2.5 businesses fill the gap between "Web 3 infrastructure" and "Web3 assets"
Web 3 assets such as crypto tokens and NFTs have gained a lot of adoption, whereas Web 3 infrastructure such as Metaverse, and DEXs have experienced little to no growth due to their complexity
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Web 2.5 companies like Binance, Meta, FTX, OpenSea make it possible for users to adopt Web 3 assets within the familiar Web 2 infrastructure
So, if there are so many use cases of Web 2.5, is it gonna make it?
Well...not really!
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As people realize the advantages of Web 3 and gravitate toward it, companies that rely on Web 2 models are going to be left behind
So, Web 2.5 is just a "gateway" for those companies to slowly change their business models
However, Web 2.5 ultimately leads to Web 3!
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While Web 3 evolves, Web 2.5 serves as a temporary playground for Web 2 companies and users to connect with each other
Will Web 2.5 make it in the short term? Yes.
Will Web 2.5 be the ultimate business model for companies to adopt? No.
Web 3 is still the end result!