A Sneak Peek in the Media Industry and Retail in the Age of WEB 3.0

In the previous blog, we gave you a little background about WEB 3.0 or the Spatial Web. We walked you through its architecture to help you understand this upcoming digital revolution and the things that contribute to its creation.

By now, you should know that the convergence of the new-era of technologies such as 5G connection, AI, sensors, IoT, Blockchain, Virtual and Augmented Reality, and more will make the Spatial Web a reality. People will be able to map a real world in the virtual space through an infinite number of digital layers. We will be able to create a digital twin of reality where we can extend our real-world activities. What’s more, this digital world will focus greatly on enhancing data privacy to avoid misuse of information and cybercrime. Advanced blockchain technology will ensure that a person’s identity and assets are protected and secured.

In this blog, we will focus more on the impact of WEB 3.0 in news and media coverage as well as in advertising. Both industries affect another predominant industry: retail.

Ready? Let’s roll.

The ‘New’ News Networks

Telling the news is multi-billion dollar business. Its revenue comes from circulation and advertising combined.

However, some find the content to be biased towards what attracts public attention. There is more news about violence, disasters, conflict, and popular people saying nasty, hateful, or evil comments. Negative emotions like anger and fear attract viewers and readers. Sure, news networks tell and publish good news too, but people remember the negative events better than the positive ones.

We all know that the stories that news corporations and their reporters tell the public can shape our beliefs and values. Showing us negative angles of a story can make some of us feel defeatist and hopeless.

What we need is an objective benchmark for the news. A platform where no biased message is communicated. A platform where no person is manipulated and everyone can decide which message is essential to them.

Once WEB 3.0 happens, the news will be different. Peter Diamandis, a world renown engineer, physician, entrepreneur, and tech visionary believes that the news in the future will be “crowd sourced and sensor-collected” and ordinary people can tour the site like a journalist.

According to him, it is possible through the convergence of mesh networks, artificial intelligence, public ledgers, and virtual reality.

Imagine what can happen when all mobile phones can establish a local mesh network. When a protest breaks out, activists can broadcast 360-degree videos. Using advanced photogrammetry and AI, you can access a real-time hologram of the protest. You can experience the event closely and understand what’s happening. You can interpret the news according to your own values.

In addition, public ledgers and powerful AI enable you to verify the information that you gathered on your own. Think about it — you’re not just accepting information. You end up doing quick yet valuable research. At the end of the day, you know what’s happening, you know why it happened, and you might have an idea about what will happen next. Nobody is ignorant.

Diamandis believes that when this happens, the world will not be polarized anymore. More people will engage more in civic and reasoned dialogues. People will become open and listen to other people’s ideas and assumptions, allowing us to empathize and compromise when needed.

READ: VR Marketing is Effective Because VR Helps People Remember

No More Annoying Ads and False Advertising

When WEB 3.0 arrives, there will be fewer to zero internet advertisements that try to sell you things you might not want. Remember, WEB 3.0 will feature a secure data layer which prevents third-party applications from acquiring information about you. Hence, no more advertisements that relate to your recent search history will bombard you.

Also, WEB 3.0 will you to do an AI-powered fact-checking wherein you validate an online seller’s claims through scouring the internet for reviews. It’ll be quick since AI will do the work and will only give you the highlights. At the end of the day, you are an informed buyer and you feel comfortable with your purchase. Money well spent.

But that’s not all.

We think that the marriage of artificial intelligence and augmented reality will disrupt the entire advertising history.

Imagine yourself shopping in the malls of the future. You are wearing augmented reality glasses that look pretty much the same as today’s eyewear. Then, you told your personal AI that you want to buy a smart refrigerator. Your glasses give you directions to where you can find home appliances. You follow it and arrive in the store.

Once you find the fridge you like, the brand’s AI shows up in front of you and assists you. You see a virtual salesperson which is either an avatar or hologram. It aims to give you all the information about the product you want to buy.

If you don’t want this feature, you can simply turn them off.

READ: Augmented Reality will Power Mobile Commerce, says IBM

The WEB 3.0 is all about the user’s preferences. You control the data you receive and advertisers work on your own terms. In the era of the Spatial Web, the brands must exert more effort to personalise their advertising approach.

Now, this scenario gives us an idea of how WEB 3.0 will disrupt the retail industry and how we buy things in stores and online.

Retail Stores in the Spatial Web

Today, we see kiddie virtual reality games about grocery shopping. In the near future, we will walk through a digital mall or supermarket. We will be able to shop without leaving the house. All we need to do is wait for a drone to deliver the items you bought.

READ: VR Shopping is the Future of E-Commerce

When shopping for clothes, your personal AI will help you choose clothes that fit and will help you pair two or more pieces of clothing together. It’s called AI fashion and it will help you get dressed every single day and for the special moments of your life. You won’t need to think too much about your next office outfit or the dress you’ll wear on your date tonight.

Of course, you also need to buy clothes for your avatar in the virtual world. When the WEB 3.0 arrives, some of the biggest fashion brands will release virtual apparel which people can buy and use in the virtual world.

The future is clear. WEB 3.0 will change the retail industry. In fact, huge updates are already happening. Several big players in the retail industry like Walmart, IKEA, Amazon, and Alibaba are embracing AR and VR technology.

In addition, new wearable technology promises gloves that pair with AR glasses and VR headsets. Together, these two make virtual shopping very realistic. Soon, we will hold the product virtually in our hands and customise it as we explore it in the virtual world.

Truly, the retail industry has a great future in the Spatial Web.

In the next article, we will discuss how the Spatial Web will affect the way we work and entertain ourselves. Brace yourselves and hold on to something strong. We’re just discussing the beginning of a new era.