Can Web3 outgrow expectations?

source
How big is the internet? A statistical research as of four years showed over 64 zetabytes. If you were to tear this down in gigabyte then you'll be expecting close to a trillion if not more. This is indeed big in terms of capacity and more is coming. Ok, let's come back to the financial figures and chanel it down to the web3 industry. Using the current feasible figure, web3 is caped at a market value around $4.6b. Even this figure looks small for me when comparing the diverse sectors web3 has penetrated and still at infant stage .

Still looking at figures, the Internet is mostly classified by users. 2024 data release reveals that 67% of people globally use the internet. If this figures be a near true, I would pesernally say the internet is ongoing a fast spread than expected when trying to look at infrastructural limitation, under education and high cost to access by the low class and underdeveloped countries. Maybe something to bargain another day. That said, a more attentive figure to look at is the number of social media users presents in the mentioned figure. The dominance of social media users takes 92% of internet users and 62% world's population.

Do you know what this means? Firstly, the world is estimated to hold 8.1 billion people as of 2024. In the 8.1 billion population, 5.44 billion uses the internet, and 5 billion are the social media users world wide. Here is where opportunity is presented. Web3 is mostly coined from being a decentralized socialfi network and currently, there is over 5 billion social media users to leverage on. Looking at the web3 market cap above, expert predict the market size of web3 to reach nearly $118 billion by 2033. While others doubt it can't, my answer will be, 'why can't?', in short the expected market figures seems too small from my views.

source
How often do we misunderstand both technology and numbers. We are entering an era of virtual activities. The rate at which non-tangible assets are being virtualized through tokenization is enough eye opener of what web3 is likely to become in a space of another decade. There is a rising need for cryptocurrencies and tokens. I just discussed on PoliFi (politics and finance) and how it could help blow the web3 industry in my recent article can poliFi be a big web3 oppprtunity. The adoption of incentivization and virtual rewards will continue to boost market impact for the web3 ecosystem.

Out of the 5 billion social media users, how many are currently in the web3 ecosystem? I have not been able to get a more concise figures but it trends mostly with the younger generation. Definitely, the figures will not be encouraging ( web3 is currently more attributed to developers) yet if you understand that this tech is at it baby phase and still able to garner such attention in a dominant web2 ecosystem, you'll readjust to be a full time beneficiary of the next internet movement.

Even with its slow adoption, why are big companies pumping money into this industry. Over 430 companies have been attributed to raise funds in billions to see through web3. With startups offering both web3 products and services, where do you think the figures will soon get to? We have to be very realistic here, there is an Evolution here, one in which doubt cannot annul. If this web2 industry which has been a one sided platform(owner's centered) within twenty five years made this massive impact how about one in which users become true owners?.

source
Data privacy is on a demanding increase, one which has seen investors gradually give attention to this rising need. How do you see the market size in the space of awareness?, ofcourse users sensitization is ongoing, one that will continue to add new users to this ecosystem. Many believe we've become very use to web2. Inasmuch as this is true yet I would say to some point. scalability coupled with better UI and UX will draw attention to this industry. Platform ownership means everything in your blog is price tagged, this will grow the NFT market. If I were to explode the future effect of tokenization, we may have to put up a novel.

Have you paid attention to web3 gaming? You need to see number of Play To Earn gamers that make up this industry. Without doubts, this figures will double in the next five years and quadruple in a decade. ALL this figures will add up to financial growth. The full advantage of decentralized finance is yet to be uncovered. In short, I see this being the source avenue for entrepreneurial fundraising. As the web3 complexities continues to be diluted we are going to see a full house market that exceed the limited numbers.

Let's assume the web3 internet users are currently around 100 million (some estimated nearly 73 million as of 2021). We must admit that most users on chain are just crypto users or holders and we are focusing on web3 specific. If a 100 million users can create a market value of $4.6 billion dollars, what happens if this figures double up. We know, if the activities doubles it goes to the financial figures too. So can web3 have a 2 to 3 billion users in five years? If yes, what does this mean, if no, why not and can't the 'not' be addressed. Definitely, it can and this market cap will soar. Note, I didn't say ten year but five.

To conclude, letm me add, web3 is very promising. I see it breaking beyond expected figures to trillions in the next decade. Don't be surprised if the trillion figure are in tens, this is a big financial movement that will favor those that understand the technological wind. As we await the ten years possibilities, my suggestion would not be to just watch but rather get involved, this web has not surface to disappear anytime soon.

Posted Using InLeo Alpha