Web 3.0, Metaverse decentralising content, say experts at T-Hub Innovation Summit

Hyderabad: This year saw the growth of new technology terms – Web 3.0 and Metaverse. In order to demystify these terms, four industry experts and one government representative sat for a panel discussion at the T-Hub Innovation Summit.

Aptly titled De-Mystifying Web 3.0 and Metaverse, ITE&C Department director of emerging technology Rama Devi Lanka, Mzaalo COO Vikram Tanna, Kalaari Capital partner Ravinder Singh, Borderless Capital general partner Amit Mehra and Autonomy founder Santosh Yellajosula spent 45 minutes talking about them and their future.

Lanka mentioned that about 12-plus government projects are being run where technologies like blockchain and Web 3.0 are being used and added that the government has developed an e-voting app wherein one can vote using their smartphone and dry run has been conducted in the State.

Mehra spoke about how Web 3.0 is all about secured social commerce. “Right now apps like Uber and Zomato are centralized and Web 3.0 is about decentralizing them wherein the power is given to the consumer,” he said.

Tanna mentioned that the way content is consumed is changing with gamification coming into play and that is where Metaverse will have a key role to play. “Now, content creators can directly engage with fans through NFTs and monetize part of their content,” says Tanna.