For our group project , we have chosen to analyze on dataset “WEB 3”.Would you recommend us to continue with the same dataset.
Motivation: Web2 (2005 – 2020) is a centralized platform in which services are run by a few companies like internet gatekeepers such as apple, google. Although developers were benefitted initially later it become tough for them to survive due to the centralized platform.
Examples include – Epic vs Apple, Facebook vs Zynga, Google vs Yelp (Chris Dixon, 2021, November 4)
So web3 is a decentralized platform with advanced features of web2 but owned by developers and users.
Rationale: In web3, ownership and control are decentralized. Users and builders can own pieces of internet services by owning tokens, both non-fungible (NFTs) and fungible. Tokens give them the property rights to own a piece of the internet.
By having tokens owned by many users they can work towards a common goal which is the growth of community and appreciation of the token.
Business Implications: Issuing native assets, Holding the native asset-building network, building the financial infrastructure of these native assets, payment tokens, work tokens, burn tokens (Mersch, M. (2019, May 4).)
So, in our project, We would like to do sentiment analysis on web3 using Twitter data.
Chris Dixon is a general partner at a16z. (2021, November 4). Why web3 matters. Future. Retrieved November 11, 2021, from https://future.a16z.com/why-web3-matters/.
Mersch, M. (2019, May 4). Which new business models will be unleashed by web 3.0? Medium. Retrieved November 11, 2021, from https://medium.com/fabric-ventures/which-new-business-models-will-be-unleashed-by-web-3-0-4e67c17dbd10.