Industry Heavyweights Mull Future of Web3: ‘This Is Not a Fad, it’s a Technology’ – FilMart

variety.com:

Naman Ramachandran The future is Web3 was the consensus at a high-powered panel discussing the subject at Hong Kong’s FilMart on Wednesday.

Weighing in with their knowledge and experience were Evan Auyang, group president, Animoca Brands; Jenefer Brown, executive VP and head of global products and experiences, Lionsgate; Lucas Cheungmanaging partner, Hong Kong, Gusto Collective and Jaeson Ma co-founder, 88rising, OP3N and EST Media.

For the benefit of the lay people in the audience, Ma provided a handy definition of what exactly Web3 is. Ma explained that web1 was a phase where people could search for and read content, web2 is where companies were able to publish content and web3 is all about ownership. “Now people are able to actually publish content, but also prove that they are the ideas, originators, authenticators of that content.

And so Web3 really is about the ability for people to own what they create on the internet,” Ma said. Continuing the explanations, Cheung described blockchain, one of the building blocks of Web3 as “a decentralized public ledger,” while Brown simplified NFTs or non fungible tokens as unique digital assets and Auyang the metaverse as a virtual space where users are able to perform many functions.