The decentralization of business models is the primary characteristic of Web3. In that sense, it ushers in a third stage of the internet (thus the name “Web3”) and a change in users’ perceptions of the status quo. Web3, the next edition powered by blockchain development services, potentially upends that power structure with a shift back to users. Open standards and protocols could make their return. The idea is that power will be widely distributed through “permissionless” decentralized blockchains and smart contracts, rather than remaining centralized in big platforms and aggregators. Web3 is currently gaining traction in a wide range of different industries, such as the social sector, carbon markets, art, real estate, gaming, and more. Below, we will look into each of these web3 use cases in greater depth. But first, let’s define web3 for those who are unfamiliar before we go into the topic.