Josef Poetzinger. © Private
Backstage PRO: Hi Josef, let’s start with the basics: what does Web 3.0 actually mean?
Joseph Potzinger: After Web 1.0 and 2.0, Web 3.0 represents the idea of the next evolutionary stage of the Internet. It promises to end or at least reduce the problems associated with Web 2.0, such as central data storage and the concentration of power in a few large Internet companies.
Whether this will really succeed, or whether the promises of Web 3.0 will eventually become more of a marketing gimmick, remains to be seen, since we are still at the very beginning of this evolution: existing Web 2.0 sites are currently trying to use the first tools to make the transition in the first place.
“Web 3.0 is decentralized”
Backstage PRO: What techniques, trends and tools are associated with Web 3.0?
Joseph Potzinger: Web 3.0 is largely based on blockchain technology, which allows data to be stored in a decentralized, secure, transparent and irreversible way. Non-Fungible Tokens (NFTs) are closely tied to the blockchain and play a crucial role in making digital objects tradable and proving their authenticity.
→ Find here our detailed article on “NFT”!
One of the current trends in the field of Web 3.0 is of course the metaverse, that is, the idea of a virtual “universe” in which users can move freely and, as on the Internet, interact with each other and make social contacts, for example. example power.
Additionally, there is currently a lot of hype around DAOs, the so-called Decentralized Autonomous Organizations. It is the name of communities and organizations that are organized using program code that cannot be centrally controlled and that grant their members co-determination or co-creation rights.
“NFTs can transform the streaming economy”
Backstage PRO: How DIY artists can benefit from new Web 3.0 technologies. advantage?
Joseph Potzinger: The most obvious benefit of Web 3.0 for artists is the so-called tokenization of our music via NFTs. An NFT is like a unique digital copy of our music which can then be sold as a work of art. It gives us, as artists, the ability to give our music or digital content fair or meaningful value in the broadest sense.
At one point, streaming services like Spotify simply put that value on our music, and now we realize that system doesn’t quite work. Even with a large number of streams, this system does not generate enough revenue for us.
Artists use social media and other channels such as streaming platforms as a pure marketing tool in hopes of reaching large numbers of people. They should buy concert tickets, t-shirts, vinyl or CDs. This shows that our purely digital content, i.e. our music or our visual concepts, is almost worthless in the streaming economy. NFTs can change that.
“Getting started can be daunting”
Backstage PRO: How is a simple or “low threshold” entry into the possibilities of Web 3.0 possible?
Joseph Potzinger: The essential first step to using Web 3.0 is to create a digital wallet. On the one hand, you can digitally sign monetary transactions; on the other hand, you need it on web 3.0 platforms to be able to login.
I advise artists who want to create NFTs without too much prior knowledge to create them on the so-called polygonal blockchain via OpenSea, currently the largest NFT marketplace.
The advantage of this approach is that you don’t need any cryptocurrency here, just the so-called Metamask wallet. If you want to start with NFTs, the first content is a song that has already been released or a music video that you offer through a platform like OpenSea.
Backstage PRO: How high are the technical hurdles in Web 3.0, especially for DIY artists?
Joseph Potzinger: Unfortunately, the hurdles are still relatively high, and the wealth of information and new terms relating to Web 3.0 can be quite daunting at first. It starts with choosing a blockchain and a marketplace – the Polygon blockchain and OpenSea are just one option among many.
“The offer is growing”
As mentioned above, most of these platforms require at least two things: cryptocurrencies and a wallet, which can be thought of as a browser extension, to manage them. Cryptocurrencies can be obtained from common crypto exchanges. As already mentioned, OpenSea/Polygon can be used without cryptocurrencies to bypass this process.
Depending on the market and blockchain you want to create your NFT on, other cryptocurrencies and sometimes other wallets may be required.
After a while, users willing to experiment will already have several different wallets to try out different blockchains.
Backstage PRO: What approach have you and your whoiswelanski group decided to adopt?
Joseph Potzinger: The offer is getting bigger and bigger here and there are different reasons to choose a platform from it. The environmental issue is very important here, i.e. the question of the ecological footprint of the respective blockchain.
With whoiswelanski, for example, we offer our music on marketplaces based on the Tezos and Polygon blockchains. We have had very good experiences with Tezos marketplaces in particular and have already sold a few musical NFTs. We do not use the usual route via the Ethereum blockchain, as this is both expensive and problematic from an environmental point of view.
“Popularity continues to rise”
Backstage PRO: How will current Web 3.0 trends evolve? Will they attract more attention, or are you already seeing a decline in popularity?
Joseph Potzinger: I have been watching Web 3.0 development for about a year and a half and so far there is only one direction – upwards. The whole Web 3.0 space is moving so fast that after just a few weeks of inactivity, you feel like you’ve missed a lot.
Of course, there are always little ups and downs.
For example, the topic Metaverse received huge hype after Facebook’s parent company Meta announced that it would be creating its own Metaverse. That now feels like it’s gone down a bit, at least if you look at digital land prices.
Backstage PRO: So is the idea of the Metaverse “out” again?
Joseph Potzinger: I do not think so. Already with whoiswelanski we notice that the metaverse is very popular: our NFTs can be experienced here in our virtual gallery. There are regular exhibitions with different artists and live music – a concept well received by the public.
Large companies are currently investing huge sums in setting up a metaverse and Web 3.0 applications and I don’t think this trend will decrease in the future, but rather increase.
In his interview “As a DIY artist in Web 3.0”, Josef Pötzinger will present the techniques and trends of Web 3.0 in detail and explain how artists can use the new developments for themselves. The exact time of the session has not yet been determined, but will be added at this stage.