Web3 Explained Quiz

What is a key difference between web 2.0 and the ethos of web3?

Web3 aims for a decentralisation of power and decision-making
Web3 aims for a society fully powered by cryptocurrencies
Web3 allows users to be producers of content, whereas in web 2.0 they are only consumers

What is one of the benefits blockchain brings?

Blockchain databases are unhackable
Blockchain can create more transparency and trust without the need for a trusted third-party
As all transactions on blockchains are anonymous there is no way to trace transactions back to an individual

The more energy-efficient and dominant blockchain consensus mechanism is:

Every Metaverse is build on the blockchain. (True or False)

What is the promise of web3 for the music industry? (Choose all that apply)

‘Utility’ in NFTs refers to:

Which of the below NFT platforms is dedicated to music:

What can be incentives for a fan to want to own an artist’s social currency? (Choose all that apply)

They might get access to exclusive perks and content depending on how much currency they own
They might get voting rights within an artist’s DAO
Social currencies are often traded very profitably on crypto exchanges

The free VoxEdit software allows you to create voxel-based NFTs to be used within:

What is a key difference between web 2.0 DSPs and web3 music services?

Web3 music services charge a higher monthly subscription fee, to generate a per stream revenue for artists
Web3 music services usually generate more money per user from a smaller community whereas web 2.0 DSPs focus more on enabling artists to reaching mass-scale audiences

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