The Disruption Of The Media: Huge Web3 Opportunity

The old joke in cryptocurrency is "I am here for the technology".

While people laugh at that, the reality is that is exactly what is happening. To be honest, the latest meme coin is nothing compared to the technological disruptions that are taking place. blockchain is playing a large part in this.

If you want to make big money, ignore the nonsense and bet on the major technological innovations that will unfold over the next decade.

We are immersed in this wave of advancement that is taking place. How much we benefit remains to be seen. It will depend upon how we position ourselves along with the development that takes place.

Once you enter this realm, disruption becomes something you should look for. In fact, do this for a while and it starts to become evident.

In this article we will discuss the Web3 opportunity that is available to everyone and how it is going to disrupt the media as we know it.

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Decentralization Is Happening

We often discuss decentralization like it is some far off dream. To me, we have to operate from the premise that decentralization is not a destination but, rather, a direction. It is also not something novel.

The disruption of the media is not going to come as a result of Web3. That said, it is a huge opportunity for those involved in this. We already see steps to move in this direction which means Web3 platforms can step right in.

What we are dealing with is the attention economy. By the way, this is not a concept being only discussed by people involved in this industry.

Here is a video clip of a conversation talking about how the mainstream media, as we know it, is done within the next few years. As far as I know, neither of these guys are crypto or blockchain people. Nevertheless, they understand what is taking place.

One of the keys is the mention of long term mindset. Now if this doesn't strike a chord with me?

The tatement that most are looking to build something to cash out on sounds very familiar. We know people are looking for the quick buck. That means that 99% are eliminated from the game right off the bat.

Another point worth mentioning is the move from Hollywood to the east cost. It is true the first movie epicenter was 3,000 miles away from Los Angeles. Because people were not happy, the industry ended up moving West. Now we are seeing a reverse according to the video.

It is also a point I disagree with somewhat.

To me, the future is it moving from Hollywood and going in every direction. This is what Web3 promises.

Media Companies Are Going To Pop Up Everywhere

Let us consider the news.

Where do you get your information from? Is there one source?

For most people, we get our news from all over the place. By this I mean, most anywhere you turn, there is some form of "news". When we click on many applications, there is information about the latest events. We see this when we open up our email. Turn to many websites and there are headlines being streamed across. Of course, enter social media and we see trending along with feeds giving us the latest stories.

This is a medium, text, that was decentralized long ago. We saw the results as many newspapers, the original controllers of news information, obliterated. While some are still standing, their business model changed completely.

They are also suffering from reduced profitability as compared to decades ago.

It is the future for many of the media companies. These outfits are going to see their[revenues reduced as things are altered.

This is a sentiment the CEO of Warner Bros made after having a lousy quarter.

"This is a generational disruption we're going through. Going through that with a streaming service that's losing billions of dollars, it's really difficult to go on offense," CEO David Zaslav said during the earnings conference call.

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The company's ad revenue was down 12% from a year ago. It is no surprise when we consider the attention economy and where eyeballs are going.

Reason For Web3 Opportunity

This is going to be the subject of its own article so we will not go too deep into it here.

However, there are two factors which I think will put Web3 in the middle of this disruption.

First, we start off with the tools that will be available to content creators. Technology is advancing rapidly providing individuals with the ability to generate higher quality content. This is pushing the narrative of "good enough" just like we saw with text.

It is true that few bloggers were writing Pulitzer Prize winning articles. Few were trained in classical journalism. None of that mattered since the content was good enough for what the masses were expecting. A literary classic was not the expectation.

The same is developing with social video. People are starting to realize that what individuals put together is good enough to warrant 10 or 15 minutes of their time. That is a game changer when we look at the mass implications.

Our second factor is drawing in viewers. Web 2.0 leaves this to the applications. While it is wildly successful, it is also creating more centralization. The difference between Warner Brothers and Facebook in this instance is none.

With Web 3 platforms, there is a different structure and appeal being erected. Here we see the opportunity for something much larger. When we add in the financial aspect to this, it changes everything.

Suddenly, content creators AND viewers have stake. They can all benefit in a financial manner off what success of others. This is not the case with the traditional media outlets. They are going to try and retain people while tokenized networks are forming.

A few days ago we discussed loyalty as the scarcity of the future. It is likely the loyalty these corporations have is not very strong. Media companies have all seen their numbers fall. This is only going to continue.

As for the YouTube "influencers", I believe their time is limited without change. While this is a newer paradigm as compared to traditional broadcast, it is going to be disrupted.

Web3 is the future. Ironic that the massive push into artificial intelligence that we are seeing is only going to promote this idea.

Data is key. These influencers, for the most part, are playing an old game. The next generation of success on the content creation is going to come from the Web3 realm. It is inevitable. Technology is pushing us in that direction with an incentive structure designed to attract, and retain, loyalty.

By the end of the decade, which is a little over 6 years away, we are going to see the media landscape completely different.

Keep this in mind each time you spend 10 minutes reading or watching something on a Web3 platform. That is time away from either the broadcast or Web 2.0 world.

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