Web 3 cryptos are a new generation of cryptocurrencies that incentivize the building of a new decentralized internet. These native tokens of Web3 projects are distributed as incentives to network participants or investors (such as users, validators, service providers, content creators) for their support.
Web3 cryptocurrencies combine smart contract and blockchain technology and promises artists and the creator economy a much fairer sharing of revenue world wild, such as royalties and commission, since Web2 firms like Meta or Facebook, Spotify and YouTube no longer receive the lion’s share for providing a centralized platform service.

In the other word, the Web3 term is used to represent the next generation of the internet — which is being created to free internet users from the need to use Web 2 firms (centralized intermediaries like YouTube Facebook Instagram and more (who have gained a bad reputation for exploiting users’ rights to privacy and freedom of speech for financial gain) by replacing them with decentralized service providers instead. This is similar to how Bitcoin and other cryptocurrencies have removed the need for people to use banks and other financial institutions when transferring or storing asset.

Web3 a Cryptocurrency?

According to our research, Web3 itself is not a specific blockchain or cryptocurrency in itself, but rather a decentralized version of the Internet that uses cryptocurrencies to provide specific services to users. However, Web3 and cryptocurrencies both run on borderless public blockchains and share important similarities such as enabling decentralization, faithless, open-source mechanization and equal access for all investors world wild.

What Do Web3 Cryptos Do?

According to our research, Web3 crypto coins and tokens are used to incentivize a decentralized range of services previously provided by centralized tech companies.

These critical services include data storage Filecoin and Arweave, network infrastructure (Helium for better understanding of all investors), bandwidth and processing power sharing Theta and Render, data indexing (like The Graph) identification, web hosting.

What Are the Best Web3 Cryptos in 2023?

There are hundreds of Web3 projects currently building throughout the crypto winter since 2022, although falling token prices, bankruptcies and fall of major players like FTX, who invested heavily in the Web3 space, may end up killing these projects. Therefore, it’s best to play it safe during a bear market and only consider Web3 cryptos that already have measurable network effect, utility and continuing traction above are the name of couple project or coin that run the web 3 field according to coinmarkecap, but always remember to do your own research before fomo in. let us know in the comment what you guys think. stay safe.