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If you’ve been watching the blockchain news, you’ve probably seen the troubling numbers of Web3 startup funding declining. 74% However, mega brands such as Starbucks master Card and Nike, both launching Web3 or Metaverse projects this year, paint conflicting pictures of Web3’s current state and future development.
While this may seem like a déjà vu from the NFT boom of big brands in 2021 and early 2022, these projects are about delivering tangible value rather than manufacturing exclusivity. seems to be much more based on Major mainstream players clearly see value in certain aspects of Web3, but with massive infrastructure still in the works, is this grand re-entry premature?
Related: 4 Things to Consider Before Investing in Web3
Big brand mercy
The debut and re-entry of big companies into Web3 will benefit the sector by giving the industry as a whole an undeniable prestige. Blockchain-based development has often been marked as a gimmick or marketing ploy, but a low-profile launch is a way of putting tangible user benefits at the forefront of product launches, making Web3 technology less flashy. is shown.
Stamps of approval from companies outside the blockchain space, and even a tech bubble, can solidify which Web3 use cases are viable.Gamer’s wrath drives game companies back pedal We’re serious about NFT integration, but Starbucks already incredibly successful A rewards program for NFT-based frameworks. Yes, it’s essentially the same technology, but utilized in a way that enhances services that non-cryptocurrency users already love, rather than drawing unnecessary attention away from their primary product.
Another key difference this time is the focus on more technical and innovation-centric aspects of Web3, such as augmented reality (AR). Yes, Meta has been a leader in this space with Oculus for a long time, but for more information on Apple launching its own product, see “mixed realityThis spring headset brings a new level of prestige to AR advancements. Given Apple’s reputation for watching technology developments from the sidelines until a clear victory is achieved, the news is getting even more attention.
If you measure Web3’s progress by the constant influx of VC dollars, the state of the industry doesn’t look rosy in the short term. But the clear and sustained interest from giants outside the industry indicates a definite curiosity and appetite for Web3 technology. That said, it’s questionable whether Web3’s skeletal infrastructure and limited interoperability will keep up as big players enter.
RELATED: Venture capitalists are funding Web3. This is why.
too fast?
Confidence votes are essential to the growth of any industry, especially when small projects are on track to build something innovative. However, external support does not always guarantee the long-term success of a platform or industry. Look at how many companies are hiring outpost Primordial Metaverse Project in Second Life.
A large metaverse infrastructure is more of a sketch than a finished portrait. Large investments in brands certainly spur the existence of more frameworks, but not always with the best interests of the community in mind. What could end up happening is that brands are marginalized and develop siled Web3 worlds that only serve their customers, “walled garden” It is the ecosystem that currently describes many internet platforms.
Companies that ignore the need for community-based frameworks will be penalized.Silicon Valley’s infamous “Move fast and break things” The idea backfired somewhat on the Web3 project, which didn’t realize that the infrastructure had to exist before it could be destroyed.
By creating an ecosystem that is not conducive to community growth, Web3’s development and infrastructure becomes a black box, inaccessible to other projects and developers. This is a software development kit (SDK) with tools that her Web3 developers of all sizes can use to create community-centric platforms, projects such as SendingNetwork to form an interconnected digital landscape. This is a place to intervene for These cross-cutting initiatives are also important for creating his Web3 foundation in common with projects that seek to shape the image of the industry.
RELATED: They say Web3 is the future of the Internet. But how?
Making sure the Web3 infrastructure is solid before committing to a large project will also help secure their profits in the long run. Companies of any size have no hesitation in experimenting with new areas that could generate revenue, but only retreat after one bad quarter or stagnant growth. This has been seen before in the blockchain world, so it would be wise not to reread this path.
Ultimately, there are clear pros and cons to mega-brands bringing Web3 back into the mainstream. If a particular company can give his Web3 space some legitimacy, it’s important not to ignore the unglamorous but important advances smaller projects are making to create common ground. Essentially, brands should consider taking a big-picture approach to becoming Web3 fixtures that bring new communities outside their corporateized space while investing in projects.