9 Web3: Exploring Technologies, Challenges, and Innovative Applications in the Media and Creative Industries

Abstract

In this chapter, I present and discuss Web3 as a technology enabling new forms of decentralized governance and operation on the Internet. I first provide a brief history of the evolution of the World Wide Web from Web1.0 to Web3, and then provide examples of Web3 technologies and existing use cases. This chapter also considers some of the key changes that Web3 brings along and the positive possibilities in industries and societies these will present. This chapter further considers some of the challenges and issues that must be addressed for Web3 to realize its full potential and to have a positive impact. I introduce a range of innovative Web3 applications within the media and creative industries. These innovations target contemporary industryspecific issues characterized by a lack of transparency and power imbalances. I focus on the music industry, the film and series industry, as well as on the social media creator industry. Lastly, this chapter points to the challenge of system-wide adoption of Web3 technologies and the importance of interdisciplinary research.