Every so often, our economic landscape undergoes a profound transformation. During the pandemic, two major events were triggered; The Great Migration saw millions of people relocating their entire lives to different parts of the country. And the Great Resignation as millions of people left their jobs for a new career or retirement. Both those events represented a critical shift in our economy. And they both resulted in an injection of innovation to solve new problems, which spawned new markets, new companies, and new lifestyles.
More recently, we saw the transformation from desktop to mobile applications achieve something similar. The transition helped drive the economic recovery in 2009-2010, and from that new market emerged a new breed of companies, like Uber, Lyft, Airbnb, Rovio Gaming, Four Square, Tinder, Waze and many more. Most of us were blind to just how profound this transformation was, and nobody predicted its outcome.
With Web3, the same dynamic is at play again today. But this time, we've seen it coming. And we plan to be in the front row…
What is Web3?
The internet has radically changed since it was first introduced in the 1990s. Back then, most web pages were static, and there wasn't much interactivity - the Web was pretty much read-only. That was web1. Then came web2. The most significant difference between web2 and web1 was interactivity. You didn't need to be a web developer to create content and publish it on the Web. Social networks were also introduced, again reducing the barrier to active participation in the online world.
Web2 also introduced monetization of online content and apps through trading users' personal information, which spawned the Big Data boom and woke the world up to digital privacy issues we hadn't encountered before. We're talking about colossal internet companies holding massive swaths of data on just about everyone, while everyone has little to no control over that data. And that's essentially where we are today.
Web3 aims to fix many of the issues inherent to web2. Contrary to web2, in web3, developers won't be building and deploying applications that run on a single server and store their data in a single database. Instead, web3 applications will either run on blockchains, decentralized networks of many peer-to-peer nodes (servers), or a combination of both. These decentralized apps are often referred to as "dapps" (d - for decentralized). It's a term you'll run into often in the web3 space.
Through its reliance on blockchain technology or decentralized networks, web3 provides the following enhancements over web2. Web3 is:
- Distributed and robust
- Supports native built-in payments
Enter the Transformation Economy and THREE
Now, a lot of the cutting-edge technology that's available today, like web3, AI, Machine Learning and Metaverse, is already driving the crux of this transformation. And there already exists a wide variety of industry events and conferences designed to connect different aspects of this market shift. But none of them focus explicitly on the transformation economy itself as a core building block leading us to where we are today as individuals, companies, industries, governments, or the planet as a whole.
THREE aims to change that by creating a market ecosystem and environment that stimulates all of our senses and that recognizes our innate need for human connections, curiosity, privacy, safety, and fun.
An Event That Rises to the Occasion
It would be hard to overstate the scope of the transformation before us - it's massive. Case in point: the combined market for digital transformation leveraging AI, Machine Learning, Blockchain, and Metaverse products and services is expected to be valued beyond USD 2T value over the next decade. And one of its most unique features is how closely-knit this transformation is with the creator economy.
All of the technologies we discussed literally change the game for content creators of all kinds. Whether they're artists, writers, or musicians, they're all on the threshold of new monetization opportunities, new copyright protections, and unprecedented control of their communities - none of which existed before.
All of this makes a strong case for a holistic event that brings the different industry players together. An event that builds bridges between technologists, entrepreneurs, brands, and investors on one end, and content creators on the other, allowing them to bounce ideas off each other, influence each other, and build the next generation of companies and digital experiences together.
At Modev, we're committed to being part of this grand transformation. Modev is an agent of change. And THREE is our next initiative in that space and we're going to be there every step of the way.
We look forward to seeing you at THREE and beyond.
THREE is taking place virtually on December 7, 2022. Learn more at gotothree.com.
Modev was founded in 2008 on the simple belief that human connection is vital in the era of digital transformation. Today, Modev produces market-leading events such as VOICE Global, VOICE Summit, an award-winning VOICE Talks internet talk show and THREE, the event for the Transformation Economy. Modev staff, better known as "Modevators," include community building and transformation experts worldwide. To learn more about Modev, and the breadth of events offered live and virtually, visit modev.com.