Web3 and the Meme Economy

In theory, Web 3.0 is a game-changer. In a lot of ways, Web 1.0 and Web 2.0 were game-changers too — but it's generally agreed that Web 2.0's revolution was the more important of the two. This is despite the fact that some claimed that the internet, in Web 2.0 format, wouldn't be more important than the Fax Machine.

Today, we already have structures that are already put in place in preparation for Web 3.0. We have a Bitcoin payment processing gateway and business crypto wallets like Coinspaid. Here you can accept payments in Bitcoin, Ethereum, USDT, and other digital currencies.

On the blockchain end of things, there are other tools available right now that allow you to access infrastructure, earning yields, and integrate DeFi solutions. Ankr decentralizes Web3 infrastructure, an important next step in DeFi. If “decentralized” infrastructure is centralized, then it defeats the purpose. It becomes vulnerable to attacks and regulations. Polygon and Binance are already using this protocol to supplement their own networks.

The scale of the changes that Web 2.0 brought to our world shows just how immense Web 3.0 could be. Unlike Web 2.0, Web 3.0 will be heavily based on machine learning, artificial intelligence, and will create even more transparent systems for the web to run on.

Memes are shaping up to be an important part of the infrastructure of both webs.

And that similarity is shaping up to be a huge part of Web 3.

There are a lot of components that make up Web 3.0, but of all those components, three stand out right now. The first is the blockchain, the second is a cryptocurrency, and the third is NFTs.

There are a lot of components that make up Web 3.0, but of all those components, three stand out right now. The first is the blockchain, the second is a cryptocurrency, and the third is NFTs.

Crypto isn't the only element of Web 3.0 that has a huge meme influence either.

NFTs, which could be a lot more, are essentially being marketed by memes these days. Coincidentally, some of the most expensive NFTs in the world are memes. Right near the top of that list is the NFT of the dogecoin,(a crypto coin based on a meme), which recently sold for four million dollars.

The Disaster girl NFT, sold by Disaster girl herself no less, sold at around $500,000. The Overly Attached Girlfriend NFT, sold by the girl in the meme herself, raked in $411,000. And lastly, a literal flying, rainbow, Pop Tart cat meme sold for $590,000.

In December of 2018, Dogecoin, a cryptocurrency based on a meme joke, was worth around $0.017. In less than two years, the coin went from being worth $0.017 to being worth $0.50, which means it experienced a 20,000% increase in just around three years or so.

For some reason, memes and virality are very essential tools for bringing groups of people together. They essentially work like flags — they signal camaraderie, they are a quick way of spreading information, and they are funny.

And just like making recipes and the ability to create cookbooks were used to market the very first personal computers, memes can be an important channel for creating the first Web 3 communities.

Building more products around memes could just be that magic pill to populate the space, and create the economy needed to truly build a connected Web 3.0.