What Is Web3 Used For?

Web3 is the buzzing word around the globe, the new version of the internet. It acquires some specific features that make it different than web2. Some of the great uses of web3 are as follows:

• Decentralised Autonomous organizations: It is one of the best uses of Web3. It is the best example of on-chain governance.

It has introduced corporate governance in virtual means by using specific policies in intelligent contracts. It mainly highlights the decentralization of web3.

• Decentralized Finance: It is based on the use of decentralized applications for financial services. It is software that is based on applications that are based on smart contracts.

It is an alternative to traditional financial services. One of the most significant advantages of this is that it will last as long as blockchain exists.

• Blockchain Games: The fascinating use of Web3 is NFTs, various types of NFTs. These NFTs and games are one of the most popular NFTs.

Here games are built on blockchain technology, where games offer personalized economics and the actual ownership of the games.

They can win tokens and buy avatars and game assets by playing games. You can create your own NFT games and sell them in the marketplace.