Web3: Take Back Power and Ownership of Your Data

By Jackie Dutton

by Elysian Magazine

“How much money would you spend at Target on random things you didn’t need?” 

This was the question I asked my sister before I convinced her to buy some of a crypto token. When the conversation began, she’d started by telling me she was afraid to lose money, and I countered by pointing out she was losing money in the dollar section of Target every time she bought unnecessary things anyway, so she might as well try something that might turn into more money than she spent.

Within six weeks, the $100 of tokens she’d purchased had turned into $3,000.

Welcome to the financial potential of Web3. On the surface it seems as irrelevant and as useless as the knick-knacks in the dollar section at Target, but the deeper potential is a possible key to financial freedom. 

From digital art images of monkeys now purchased by celebrities like Madonna, to meme coins like Doge becoming billionaire Elon Musk’s favorite digital asset, there’s something for everyone in the world of “Web3,” as it’s called. But what does this term actually mean, and why is it the key to financial freedom and individual ownership?

The answer is revealed by exposing what was “Web2.” Every app you have created a profile for, entered data about yourself, uploaded content you’ve made, or even transferred money through, has maintained a business model that you may use their services “for free.” 

But the ugly truth of this is that when something is free, you are the product. Whether it be Meta (Facebook and Instagram), YouTube, Google, etc, your data and content you have willingly entered and uploaded has been used for profit by these companies because they owned it the second you gave it away.

Web3 is about taking that power and ownership of your data and content back. 

Instead of a company like Google generating revenue off your content and giving you a tiny portion of profits, with Web3 you maintain the lion’s share, along with ownership rights in perpetuity that can be easily tracked thanks to the record of the blockchain. Think of it like royalties in the music industry or perpetual commissions on art sales.

ELYSIAN is breaking through another ceiling for women and integrating this incredible technological opportunity into its user experience, and I hope you’ll enjoy learning about the endless opportunity that awaits and wandering the aisles of possibilities in Web3, like we all enjoy the aisles at Target.

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