Web3 & Media: Impacts, Intersections, and Interests
Web3 intersecting with and impacting media means rewriting many rules. We see the decentralization of information, AI entering the game, and ever more citizen journalism. But how do we balance this innovation with transparency and ethics, the prior north stars of traditional media? And what about financial interests coming into the picture of Web3-oriented media? Read on for the article.
Media has always been a powerful force for shaping narratives and driving understanding of the world. Now, the emergence of Web3 is arguably an inflextion point as to how we can can grasp the world around us, With transparency, decentralization, and innovation at its core, Web3 changes how media is created, shared, and monetized. Naturally, questions about credibility, financial incentives and ethical boundaries remain for time to come.
A recent EcstaSHE panel, hosted by Thrilld Labs’ CEO Alexandra Overgaag, brought together builders, media experts, and academics, including Nadja Bester (co-founder of AdLunam), Carina Schuster (tech journalist and business developer at W3rlds Metaverse), Alexandros Ntolgkov (Web3 consultant and author), and Guneet Kaur (editor at Cointelegraph and academic researcher) to explore the democratization of media, the rise of AI and NFTs, and the ethical challenges facing this innovative yet finance-influenced ecosystem. Loosedly based on our panel discussion, we zoom into the interplay between Web3 and media in Thrilld Labs' new article below. Note that not all opinions and arguments expressed below reflect the opinions of all speakers.
Rebuilding Media?
What do you think about when you consider the media and crypto? Let’s be honest, legacy media tends to focus on volatility and scams, leaving a knowledge gap between crypto-native communities and the broader public. Importantly, one may argue that certain media - whilst bringing corporate, or political interests to the surface - have undermined public trust over the last decades. Depending on one’s perspective, this raises the question of whether traditional media today are well-suited to cover the nuances of decentralized innovation, innovation that is ultimately a challenges to legacy institutions.
Regardless of your stance on traditional media, Web3 certainly empowers grassroots voices and independent creators. Citizen journalism - even those efforts that are not Web3-based - has become an important source of information for many, with platforms like Substack and grassroots networks translating information and opinions into accessible content. These independent efforts challenge traditional media by decentralizing information distribution and helping bridge the gap between niche and mainstream audiences.
Other mechanisms establish a foundation for rebuilding trust between distributors and consumers, addressing long-standing concerns about bias and hidden agendas. More profoundly important therefore, some creators today mint and monetize content as NFTs, ensuring value flows directly to originators. Tying reputation and authorship to on-chain identities can combat misinformation by holding creators accountable, if one would find that of importance beyond the substance of their publications.
The evolution of information distribution extends beyond traditional media channels. For instance, the metaverse—a somewhat less ‘hot’ vertical in Web3, yet nonetheless interesting—shall likely redefine how audiences engage with content. If not today, than perhaps in the near future. By blending journalism, entertainment, and community interaction, immersive environments will offer new ways to tell stories. Let alone the possibilities that AI introduces to this equation, reshaping content and immersive experiences through automation, personalization, and advanced realities beyond what was priorly imaginable.
But let’s be real. Challenges remain. Transparency, while promoting openness, is not a guaranteed antidote to misinformation. Nor is all content well-intended, valuable, or true — decentralized or not, AI-generated or not, interactive or not. As Web3 in its broadest sense continues to evolve, creators and platforms must uphold minimal ethical standards to maintain credibility and fulfill the promise of a transparent and equitable media ecosystem. Human action and inaction remain key in this entire narrative.
To that end, we need to focus swiftly on Web3-oriented media covering the space. Why? Because they are important for how the space is perceived by both ‘insiders’ and ‘outsiders’. We may argue that Web3-oriented media is not immune to the pitfalls of financial incentives. For instance, the “pay-for-play” culture, where exposure of projects, individuals, or tokens is often bought rather than earned, risks to erode credibility of publications. This issue is compounded by the hype-driven nature of the crypto space, where narratives can quickly spiral into misinformation or disinformation.
So what should Web3-oriented media do (or not do) to cope with these financial incentives? The challenge lies in balancing financial sustainability with principles of transparency and accountability. For instance, ethical standards, such as clearly labeling sponsored content on media platforms, may help maintaining trust. The same goes for being transparent and honest about sponsored speaking positions during (online) events, promotional materials, or influencer endorsements across websites, timelines, podcasts, and social media channels.
Intersections and Looking Forward
Long story short: the intersection of Web3 and media isn’t just about ‘the tech’ or the distributionof information. Rather, it’s about rethinking how stories are told, shared, and valued. Transparency, decentralization, and innovation offer a promising pathway forward, but the road ahead is complex—and likely long—given the entrenched power dynamics of legacy institutions. Traditional media won’t change overnight, nor will they easily relinquish their influential positions.
That said, Web3-based media tools and platforms present intriguing and potentially disruptive opportunities. As AI, NFTs, and the metaverse continue to evolve, the future of media will largely depend on the collective efforts of creators, technologists, and audiences to build a system that is both innovative and trustworthy. However, even in a perfectly decentralized media landscape, some degree of informational asymmetry is likely to persist—shaped by financial incentives and other underlying factors. This challenge applies not only to those following crypto today but also to the masses who will engage with it tomorrow.
To that end, let’s never forget - don’t trust, verify. Whatever the channel, distributor, or technology involved.
