Gen-Z’s Place in Web3 and Cryptocurrency World

Generation Zero (Gen-Z) is the most internet-aware generation as they were born with the internet and access to mobile phones right from the start. This way, they got tons of information to their fingertip right away. They are the first ones to have tasted the decentralization and the freedom it brings along.

related: The Path Ahead For Web3: Onboarding The Next Billion Users

Web Revolution

On January 8, 2021, the Twitter account of US President @realDonaldTrump was suspended and that’s when most people realized the degree of control on the internet these giant companies have. We have encountered or at least heard of videos being removed from YouTube. This unwanted censorship bothers everyone, especially Gen-Z when it comes to their social engagements.

It’s not only about Twitter and YouTube alone, almost every Web1 and Web2 platform has some sort of hurdle that keeps this generation from their full exposure and paves the way to Bitcoin, other cryptocurrencies, and Web3 adoption as a solution.

Web1 was the first internet we interacted with. Those web pages were more read-only requiring no input from users. Then as Web2, we encountered which took input from users and provided the results correspondingly. This includes Facebook, Google and YouTube. Now comes Web3, which is more intelligent and interactive in every way claiming to provide users the control instead of VCs (Venture Capitals) and LPs (Limited Partners). Web3 offers users to post the data without any fears of sponsorship.

Gen-Z and millennials are the reasons why Web3 assets are soaring to the moon on regular basis. These are the ones pouring hefty amounts into the venture with the belief of WAGMI. On events like Web3, holiday gifts were bought worth thousands of dollars. Some gifted NFTs on women empowerment and others bought virtual land plots for their loved ones. Gen-Z finds it safer to store their money in digital assets and willingly spend on something that brings freedom (Web3).

Recall the first time you saw an emoji and how easy it was to adapt to it because it communicated more than words shorthand. That’s the difference between Web2 and Web3 with the freedom at its core – thanks to blockchain. Web3 and cryptocurrencies are borrowing heavily from this generation to contribute to building the tools like dApps (Decentralized Applications) and DeFi (Decentralized Finance).

Conclusion

The good thing with Gen-Z is they are not the consumers or customers only, however, there are teenagers building internet and blockchain protocols to empower their community and people. These teens are conquering the decentralized world of crypto as “age doesn’t matter, only product and community and does”.

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sources: twitter

author: Rene Remsik, mnmansha

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.