Companies will be driven to improve their digital offerings to protect market share.

X.LA Foundation and the Arrival of Web 3.0

The Development of the Internet

The internet is undoubtedly the most significant technological development in human history. It has no boundaries and provides enormous economic opportunities for people in every country. People can use the internet to improve their quality of life. It gives people access to previously inaccessible things. With estimated billions of users, the internet is quickly becoming one of the most significant communication instruments.

X.LA Foundation and Web 3.0

The X.LA foundation is a community-driven organization created by Aleksandr “Shurick” Agapitov. Agapitov is the founder of Xsolla. Xsolla is a gaming industry forum that delivers value and possibilities for programmers, publishers, IP owners, and investors throughout the world. The X.LA Foundation has an objective in evolving traditional corporate partnerships and assisting people all over the world in becoming equal benefactors for their work, creations, and services through the use of novel Web 3.0 technologies and concepts.

“Creators are natural visionaries,” Agapitov said. “Now, as interest in NFTs, cryptocurrency and blockchain technologies grow, theyre seeing the opportunities in the Metaverse and X.LA is here to make that future a reality.”

On February 17th, 2022, the public witnessed the debut of the X.LA Foundation which will offer a range of its prospects to contractors, influencers, content creators, inventors, entrepreneurs, and academics. With the current interest in NFTs, bitcoin, and blockchain technology, the advent of this new project will bring the notions of Web 3.0 closer to becoming a reality. Its only logical for entrepreneurs and innovators to seize the chance to make their imprint on the rapidly evolving Web3.

In contrast; Web 1.0 came with scarce content creators accompanied by the majority of users who were merely consuming content. Web 2.0 brought people to the web as a medium, while Web 3.0 relates to a decentralized concept in which content creators can produce, control, trade, and be compensated for their work via NFTs, all while utilizing blockchain technology components. In a nutshell, minting NFTs is the process of creating a one-of-a-kind digital asset that can be traded alongside a token that serves as proof of ownership.

Some advantages (pros) of web 3.0

End-users will be able to reclaim entire ownership and control of their data while still benefiting from the protection of encryption. The ability to access data from any location is mostly driven by the widespread use of smartphones and Cloud applications. Blockchains, such as Ethereum, offer a secure environment where data is entirely secured and rules are unbreakable. Anyone can generate a blockchain address and use it to communicate with the network. Account suspensions and distribution service denials are drastically minimized.

Cons

Some cons that might likely accompany the advent of the web 3.0 can be seen as:

The inability for less advanced devices to access Web 3.0. Regulating would likely become a challenge. Some analysts believe that decentralization will make it more difficult to govern and manage Web 3.0. This could, among other things, lead to a rise in cybercrime and online abuse.

According to former Twitter CEO Jack Dorsey, ordinary people will not be the owners of Web 3.0 businesses, contrary to common opinion. He argues that it will be owned by venture investors and financiers. As a result, control might still be centralized. Existing website owners will be obliged to update their sites. As Web 3.0 apps and websites become more popular, incumbent companies will be driven to improve their digital offerings in order to protect market share.