Bringing Web3 to Life with Artificial Intelligence

Much has been said about the manner in which Web3 would herald the dawn of a new future for the Internet. Whilst Web3 is certainly a buzzword that has generated much hype, the key to unlocking the full potential of Web3 still remains elusive. The key to unlocking the full potential of Web3 may lie in the use of artificial intelligence (AI)-based technologies.to drive the marketing and development of Web3 products and services.

AI for Web3 Sentiment Analysis

With its emphasis on user autonomy and content ownership, the coming to the fore of Web3 brings with it the age of user-generated content (UGC) which can be owned by users through non-fungible tokens (NFTs). The rise of generative art opens the door for Web3 users to be digital artists using AI-based tools such as OpenAI’s DALL-E for visual art generation and Google’s MusicLM for musical tunes composition. From the perspective of Web3 product and marketing, AI-based natural language processing (NLP) can be used for the sentiment analysis aka opinion mining of the UGC generated by Web3 users to understand more about their hopes and dreams to meet their wants and needs from the decentralised Internet.

A real world use case of AI for Web3 sentiment analysis is Moonblock whose analytics platform facilitates Web3 product and marketing by deriving insights from NFT data to understand more about the preferences of Web3 users. The data-driven insights generated by Moonblock help inform the decision-making processes of Web3 product and marketing by providing a more comprehensive understanding of the the preferences of Web3 users based on the tokenized UGC generated by them.

Moonblock’s User Interface (Source: Moonblock.io)

AI for Web3 Predictive Analysis

Along with the buzz and hype, Web3 has given rise to a plethora of trends that cover the decentralised finance (DeFi), gamification (GameFi) and social finance (SocialFi) domains. In time to come, some of the current trends would develop through innovation into mainstream adoption whereas others would fade away to be replaced with new ones. From the perspective of Web3 product and marketing, AI-based machine learning (ML) can be used for predictive analysis of future Web3 trends to separate signals from noise to understand more about the direction in which the decentralised internet would develop moving forward

A real world use case of Ai for Web3 predictive analysis is DexCheck which is a cryptocurrency and NFT platform that uses AI to analyse vast amounts of real time onchain data to undertake predictive analysis for trend predictions. DexCheck’s platform leverages the TensorFlow open-source machine learning library to provide actionable insights that help users stay ahead of the Web3 product and marketing curve by making informed and strategic decisions based on the prevalent trends in the digital assets markets to capitalise on the investment and trading opportunities in the markets.

DexCheck’s User Interface (Source:DexCheck.ai)

AI for Web3 Metaverse Immersion

Besides being the decentralised Internet, Web3 also functions as the immersive Internet through the Metaverse realm which functions as a crossover domain between the physical and digital worlds. From social communications to gaming activities, the Metaverse would bridge the gaps between the physical and digital worlds to allow Web3 users to interact with the virtual environment in a surreal manner. From the perspective of Web3 product and marketing, AI-based computer versions can be used for virtual simulation in Web3’s Metaverse to enable immersive interaction by facilitating body tracking and gesture tracking of users’ digital avatars.

A real world use case of AI for Web3 Metaverse immersion is Unreal Engine which offers a real-time 3D creation tool for the production of photoreal visuals and immersive experiences that powers the Metaverse through Web3 games such as Illuvium and Star Atlas. Unreal Engine supports Microsoft’s HoloLens mixed reality headset which combines elements of both virtual reality (VR) and augmented reality (AR) to create a “mixed” or “blended” reality experience. UnrealCV is an open source project that aims to help computer vision researchers build virtual worlds using Unreal Engine 4 (UE4).

Unreal Engine’s User Interface (Source:UnrealEngine.com)

Web3 is a conceptual framework which sets out the blueprint for the future development of the Internet. AI would be bringing Web3 to life through the use of NLP to make sense of UGC data through sentiment analysis and machine learning to project future trends through predictive analysis as well as computer vision to build the immersive Metaverse.