Wondering what on earth Web3 is?


Alana Podrx is the CEO of Eve Wealth, which helps women invest in the Web3 world


Web3 is a hot topic right now, but you’re not alone if you’re not sure what it is. In fact, the reason that Web3 might seem a little unclear is that Web3 itself hasn’t been defined yet! That’s what makes it exciting.


On March 29th, we’re teaming up with Eve Wealth to bring you an exclusive intro to the world of Web3 with founder Alana Podrx.


Eve is the first wealth DAO to focus on investment and education to bring more women and non-binary leaders into Web3 wealth building. Pretty cool stuff.


Ahead of our workshop, Alana has broken down everything you need to know to get started with Web3.


Let’s start with an internet history lesson.




Quiz time: what do you think Web3 is?


A. The future of the internet, owned by builders & users, where money flows as freely as information does today

B. Rebranding of “crypto” which got a bad rep

C. A decentralized online ecosystem based on the blockchain

D. All of the above.


The answer is D. As we said, Web3 is still being defined!


Let’s go back to the start: the early web.


The early web was read only...


The early internet required you to know a URL to access a site and was built around HTML. Sites like AskJeeves, Rap Genius, GeoCities and DeviantArt prevailed. Websites were mostly there to provide information, and weren’t super interactive.


...but around 2004, things started to get a lot more social.


Web2 is broadly the early version of the internet as we know it now. It became much more interactive and driven by users – but FANG (Facebook, Amazon, Netflix & Google) started to consolidate the web into mega player destinations rather than lots of individual sites.


Concentrated power comes with problems. In October 2021, Facebook engineers made a mistake that caused a 7 hour outage. This resulted in employees’ badges not working – the very badges needed to get into the physical locations where the key servers were.


Web2 raises a LOT of questions about our data and how it’s used, ownership, and who might have the power to rewrite the history of the internet. That’s how we get to Web3.


The power dynamics are starting to change


Web3 hopes to solve some of the problems raised in Web2 by creating an ‘unchangeable’ record of the internet across multiple computers. Information, data, transactions, and infrastructure are decentralised across multiple blockchains that have multiple ‘servers’.


The internet becomes less concentrated, and so does risk. Communities can self-govern with incentivisation through tokens (which you can read more about in our last blog post). Tokens, in turn, can be exchanged for real-world currencies (known in the crypto world as fiat).


Want to learn more about the key terms of web3 like NFTs, DeFi (decentralized finance), Metaverse, Stablecoins and more? Eve Wealth have put together a free webinar for you!


Okay, so that's the history. But what does this mean for me?


We’re glad you asked! There are three key ways that this matters for Gen-Z and millennials.


Investing in tech


Web3 is our generation’s new wealth building revolution. 42% of millennial millionaires have at least 25% of their net worth in crypto. This is a proportion that is more realistic for crypto enthusiasts, but 1-5% could be a good amount for a holistic portfolio.


Just like the internet revolution in the 2000s, investing in crypto could be seen as equivalent to owning small cap tech stocks.


Virtual real estate


Real-world home prices are still going up (in part because investors are increasingly pushing first-time buyers out of the market), but virtual land ownership is happening in Metaverses like Decentraland, Sandbox, Somnium Space, and Cryptovoxels.


Metaverse real estate are purchasable pixels where people can meet up, advertise, or host virtual events. This land can be flipped or leased like real-world real estate.


Digital identity


The average person spends almost 7 hours online a day (we’ve all been called out by our screen time notifications before!), and 31% of users are online almost constantly.


How we think about our identities has shifted as a result. Instead of private member clubs in the real world, we’re seeing dollars shift to pfp (picture for proof) membership clubs where NFTs show your clout, wealth, access, and connect you to a community of other individuals with similar values.


You might have seen the Bored Ape Yacht Club monkeys, or women-led projects like Crypto Coven. Members change their profile pictures, attend exclusive events, and get different kinds of perks for buying in. The shift is taking place in legacy industries too, with Tommy Hilfiger set to show their first set of NFTs at Metaverse Fashion Week.


It seems like I have a lot to catch up on...


The potential is endless, and we are just getting started. Remember, you’re not too late to get involved! DeFi became popular in summer 2020, NFTs really started to take off in February 2021, and Metaverse didn’t become a searched word until November 2021.


Wanna build your own personal roadmap for navigating Web3? Come along to our event with Eve Wealth on March 29th and continue your journey.


 

About Alana Podrx, our guest author for this article


Alana is the CEO of Eve Wealth which helps women invest in a web3 world. She is an experienced entrepreneur, investor, and women’s wealth advocate. Eve Wealth, the worlds first Wealth DAO, has created an easy 3-level course to quickly learn web3 wealth building & basics at www.evedefi.com.

She previously launched McKinsey’s New Venture group and Corporate Venture Capital Service line which included investing in, building and scaling companies with some of the most influential corporations (Fortune500). Within the web3 space Alana is a contributor & member of ValuesIndex, Seed Club HQ, Index Coop, FWB and Womenoncaptables.com. Her art is what brought her into the early crypto space, with collectors at DG and later NFTs at Digital XYZ.

 

Financial disclaimer:


Juno is an education-only platform. If you are unclear about anything concerning our services please do not hesitate to contact us at margot@herjuno.com.


Please note that we do not provide any financial planning, accounting, investment advisory or tax advisory or planning advice. If you need financial advice please contact an independent financial advisor.


Juno’s content has been prepared exclusively for the informational and educational purposes of our users. Nothing on the Juno platform constitutes an offer to buy or sell or an inducement to buy or sell any security, product, service or investment. The content available on Juno does not constitute investment advice nor does Juno provide any warranty or guarantee as to the accuracy, completeness or suitability of the information provided for any particular individual purpose. As Juno is an education-only platform, it is not regulated by the Financial Conduct Authority nor is its content protected by the Financial Services Compensation Scheme.