Web3.0 Innovation Expected to be a Six Trillion Dollar Market

FinancialNewsMedia.com News Commentary

Palm Beach, FL, Sept. 8, 2022 /PRNewswire/ — From financial services to retail and e-commerce, media and entertainment, healthcare, IT, government and energy: Almost every sector is expected to adopt Web3.0 blockchain. Because Web3.0 relies heavily on blockchain, many wrongly believe that its fate is inevitably linked to the volatile cryptocurrency market. However, cryptos are just one part of the new sector. Gartner explains that while cryptocurrencies crashed in the first half of 2022, decision-makers should not assume that the value of Web3.0 technology is affected. According to the research and consulting firm, Web3.0 tech will soon reach its adoption tipping point and industries from aircraft maintenance to food safety will tokenize their applications. “Blockchain has been a proven technology that ensured the security of the crypto and NFTs to the next level — now, it is ready to ultimately transform the next generation of web technologies,” Aarti Dhapte, senior research analyst at Market Research Future told TechRepublic. “Web3 blockchain will completely transform the existing conventional processes of the different sectors.”  In 2023, the Web3.0 blockchain technology sector will be worth more than six trillion dollars, according to Market Research Future, and Web3.0 will continue to grow at a CAGR of 44.6% from 2023 to 2030. The report said: “The concept of Web3.0 implies data ownership and decentralized control. The first version of the internet, Web1.0, was built solely on content produced by governments, organizations and businesses. This web was mainly oriented to information and slowly but gradually shifted to a consumer-driven space. Few users of this web version were content creators.”  Active companies in the markets this week include ShiftPixy, Inc. (NASDAQ: PIXY), NVIDIA (NASDAQ: NVDA), Coupa Software (NASDAQ: COUP), Marqeta, Inc. (NASDAQ: MQ), Fastly, Inc. ( NYSE: FSLY).

The article added: “Forbes explains that with Web 2.0, users became creators, turning to social media, blogs and websites. However, they relied on centralized web services owned mostly by big tech companies. Content creation became a business that required audience building, and advertising became the top revenue income for web tech companies. From the extensive embrace of NFTs and cryptos to the proliferation of decentralized autonomous organizations and blockchain-based infrastructure and storage, rapid Web3.0 innovations are happening across the board. According to the report, leaders, decision-makers and IT executives should be looking at the metaverse, the decentralized apps industry, AI, video gaming and machine learning. These technologies will further accelerate the growth of Web3.0.”

ShiftPixy, Inc. (NASDAQ: PIXY) BREAKING NEWS:  ShiftPixy Announces Plans to Spin-off ShiftPixy Labs and Dividend its Digital Securities to Shareholders – ShiftPixy (“ShiftPixy” or “the Company”), a Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today announced plans to transfer ShiftPixy Lab’s Virtual Brand development pipeline and technology stack to a wholly-owned subsidiary, ShiftPixy Labs, Inc., which will then be dividended to ShiftPixy shareholders, using a record date of September 8, 2022. The spin-off transaction will be subject to various conditions, including the Company’s ability at the time of distribution to comply with applicable Wyoming law, and ShiftPixy Labs, Inc.’s meeting the qualifications for future listing on the Blockchain-powered Securities Exchange Upstream, and if successful, would eventually result in two standalone public companies. Management’s intention is to publicly list ShiftPixy Labs, Inc. via an initial public offering on both NASDAQ and Upstream during October 2022.

“Immediately on the heels of our exciting announcement of…