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- 1 Web 3 in comparison to web1 and web2 provides more new features with the help of blockchain systems such as read, write, and own.
- 2 Non-replaceable or unique represents the ownership of the unique items.
- 3 The companies have filed patents for NFTS and WEB3.
Web 3
It all starts with web1 which was only for reading. In comparison web 2.0 allowed the users to read as well as to write. In this sense, they post their own blog and are only by three large platforms which own the user’s posts.
Web 3 in comparison to web1 and web2 provides more new features with the help of blockchain systems such as read, write, and own. Web contributors earn tokens and cryptocurrencies for trading their data. The earning tokens can be transferred to the other ones. Web3 is also known as a decentralized version of the internet based on the technology of the blockchain.
Ethereum is one of the popular platforms on which the web3 services are built. In 2014 Gavin Wood with other thoughts about the first coin of the web3 term. It is user-friendly.
NFTs- Non-Fungible Tokens
Non-replaceable or unique represents the ownership of the unique items. These digital assets can be videos, pictures, audio files and artworks, and more. And the transactions of these NFTs are recorded by the blockchain over the internet. Whereas every currency has a digital signature.
NFTs hold a value that is formally set by the market. These are the digital representations of the assets. Whereas the market can be considered as high risk, and its volatile highs and lows can be deter experienced by the investors.
Companies to file the patents for NFT and web3
FICO
FICO is formerly known as Fair, Isaac, and Company. First applied for the patent in 2018 which already holds more than 200 patents with itself.
NIKE
Continues its web3 push into the bear market in April 2022. Also launched a Metaverse sneaker line called RTFKT. At the end of November 2020, the company announced the SWOOSH platform that will allow community members to create and trade digital collectibles.
GUCCI
An Italian luxury fashion company has a multi-face WEB3 strategy that uses the NFTs and the Metaverse for landing the investing in DAO which allows cryptocurrency payments.
FUJITSU
A Japanese electronic giant filed the US patent in March which also shows the tech firm exploring money, and crypto exchange with digital management. The company was established in 1923 as a joint venture in order to boost the production of the company.
Formula One
In 2022 filed the crypto-related trademark which is an auto racing league firm related to F1 trademarks.
The companies have filed patents that provide them with a digital asset on the upswing. Businesses across the board have been locking down blockchain-related patents. It generally innovates the companies to reconsider their business process. The NFTs provide benefits in the traditional business world.
Rather than going to a third party to sell their content, the users will be able to sell them directly through peer-to-peer.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
