- Web 2.5, a new phrase among companies and developers, provides a more practical stepping stone as brands establish plans in the face of crypto market volatility.
- Web3 is considered as the next iteration of the internet, and is still in its infancy, and will serve as the base for Metaverse.
- The Crypto market is going through a hard time now, as it is witnessing a heavy downfall amid the stablecoin collapse.
While NFTs and cryptocurrency are being investigated, as well as metaverse and Web3 initiatives, some worry that the luxury fashion and beauty industry is growing too quickly.
Recent drops in the cryptocurrency market have jitters, and customers are resisting the allure of a quickly oversaturated NFT sector. And the metaverse is still in its infancy; experts predict that a decentralized metaverse’ will take years to emerge.
Web2.5 is a new word — and solution — being quietly discussed among executives under pressure to upgrade from Web2 to Web3.
As per Serotonin, a marketing company that has developed metaverse and Web3 strategies for Adidas and Sotheby’s, Web2.5 represents the reality of a transition era. “Brands are still figuring out [Web3], and a few of them are uneasy with the sensation of not understanding,” says Claire Jencks, Serotonin’s content editor.
She further added, however, that the businesses who are moving into this sector are a little more willing to try new things.”
According to Everett Muzzy, Serotonin’s VP of content, linking Web3 assets like NFTs to actual things is a classic example of Web2.5. The amount of times Nike has relaunched itself or its target customers only goes to show how adaptable a corporation it is.
Everett Added that it not only accesses but also attracts a large Web3 population. It did so very cleverly through Rtfkt, which had evolved organically among a highly loyal and engaged Web3 native audience.
Web2.5 is the first step toward Web3. According to Muzzy, Coinbase is an example of a cryptocurrency exchange that allows users to swap Web3 assets utilizing Web2 infrastructures like credit cards and fiat currencies. Web2.5 is defined by the mix of Web3 assets with Web2 technology, he concludes.
ALSO READ: Resolving Conflicts In Metaverse And How To Avoid Them
Source: https://www.thecoinrepublic.com/2022/05/24/web3-is-a-slippery-concept-should-we-go-for-web2-5/