Web3 for TradBiz-Path forward (14 of 14)

Charting your Web3 path forward

Next steps and curated resources for exploring, investing in, engaging with, and building your Web3 future

If you’ve completed the entire Web3 for TradBiz Executives and Investors series, then congratulations! This series has provided you with foundational knowledge you can use to chart your path forward in the evolving Web3 world. We’ve covered what is Web3 and why we believe it is an inevitable next phase of socioeconomic development, crypto 101 basics, some advanced Web3 topics, and how to use wallets not only to buy and sell cryptoassets, but also engage with Web3 ecosystems. We introduced the broad range of emerging Web3 use cases and value propositions, taking a closer look at hot topics like decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized autonomous organizations (DAOs). We then explored Web3 implications for TradBiz, followed by a discussion of Web3 investment opportunities, vehicles, and assessment methodologies. Finally, we showed that while adoption of cryptoassets and Web3 solutions by investors, mainstream businesses, and the overall population has grown rapidly, we are still very early in the transition from Web2 to Web3.

You have now completed the first phase of your Web3 journey — and are well on your way to integrating Web3 opportunities into your business, professional and personal life. So where do you go from here? While the answer is highly dependent on who you are and what you want to accomplish, consider next steps you may take in four areas: explore, invest, engage, and build.

Explore — Continue to explore Web3 evolution and implications. A wide variety of sources and formats exist based upon your objectives and time availability. Subscribe to newsletters, articles, podcasts, and videos that cover a wide range of crypto and Web3 trends and developments. Review crypto news and data portals that aggregate news and provide real-time market data. Leverage curated resource lists such as Web3 Resources by AcceleratingBiz, which are also often developed by Web3 investors and research teams. Read published reports and studies provided by crypto-focused research firms as well as mainstream professional services firms. Attend crypto and Web3-related conferences, which can be either in-person or virtual, held regularly around the world. Explore the websites of leading Web3 platforms, which often provide white papers, roadmaps, tutorials, and other documentation explaining the ecosystem’s value and how it works. If time allows, consider attending self-directed courses and online classes provided by ecosystems, schools, and other businesses.

Invest — Begin investing in cryptoassets and Web3. Nothing makes Web3 more real than investing in crypto and other Web3 assets. As we’ve mentioned elsewhere, this is not investment advice; prospective investors should do their own research, get advice from investment advisors, and never invest more than they can afford to lose. That said, you can start your investment journey by setting up a crypto exchange account linked to your bank account, which you can fund with an initial amount of fiat currency like U.S. dollars or Euros. Next, consider setting up one or more self-custodied crypto wallets on your desktop or mobile device. If you haven’t already, make your first crypto investments, perhaps buying small amounts of Bitcoin or Ethereum to get started. With a self-custodied wallet in place, you can also begin to learn about, buy and potentially trade your first nonfungible tokens (NFTs). You can also join decentralized finance (DeFi) yield farming protocols to earn yield on stablecoins and other cryptoassets you hold. Don’t forget to subscribe to a service that tracks your cryptoassets transactions, helping you prepare annual tax filings that specify capital gains and losses.

Engage — Participate in Web3 communities. If you prefer engaging socially, there is no shortage of online and physical social communities in which you can connect with other Web3-focused professionals. So-called Crypto Twitter is a good starting point here, as Twitter is the go-to social network for following and engaging with Web3 influencers. Join and engage proactively in online communities on Discord, Telegram, Reddit and other platforms, many of which are specific to individual crypto projects and ecosystems. Seek out and participate in local meetups of like-minded people exploring Web3-related topics. If you’re an executive, consider organizing working sessions within your organization to identify, evaluate, and act upon Web3-related opportunities and challenges. AcceleratingBiz can help you prepare for and facilitate working sessions with leadership teams, board members, investment committees, and other groups to understand Web3 implications, prioritize opportunities to address, and develop plans for moving forward. Other opportunities for engaging include finding ways to contribute your skills to a decentralized autonomous organization (DAO) that interests you, staking your cryptoassets in selected ecosystems to earn yield, and participating in on-chain governance by voting on proposals for cryptoassets you hold.

Build — Get involved in Web3 initiatives. Once you’ve explored, invested, and engaged in some of the crypto and Web3 activities discussed above, consider how you can use your overall experience, skills, and connections to further Web3 projects. Perhaps join a DAO by offering a tribute (making an investment) or performing measurable work. Or begin to futureproof your organization by building upon what you’ve learned to develop an enhanced or even new Web3-fied business model. Start a native Web3 project that solves previously unsolved problem leveraging Web3 technologies, models, and ecosystems. Learn more about what DAOs need to run efficiently and grow their ecosystems, providing B2DAO solutions that enhance your business’ existing products and services to support those needs. Or contribute to existing Web3 ecosystems by submitting proposals for the development or enhancement of new features and capabilities.

While the number of options available to you may be overwhelming, we’ve curated some of the best of the above sources and ideas for your reference, which you can explore in the Web3 resources page of our website.

Monchester Macapagal and Kris Caigas of AcceleratingBiz contributed significantly to the research, writing, and production of this series.

Explore other Web3 for TradBiz insights and resources at acceleratingbiz.com.

Click on the links below to go back to the earlier chapters of this Web3 for TradBiz series:

[1] Web3 for TradBiz introduction

Web3 and crypto foundations
[2] Why embrace Web3 now
[3] Inevitable Web3 future
[4] Crypto and Web3 basics
[5] Advanced Web3 topics
[6] Using crypto wallets

Use cases and value propositions
[7] Web3 use case categories
[8] Decentralized finance (DeFi)
[9] Non-fungible tokens (NFTs) and the Metaverse
[10] Decentralized autonomous organizations (DAOs)

Web3 implications and opportunities
[11] Web3 impact on TradBiz market and business models
[12] Emerging Web3 investment opportunities
[13] Evidence of mainstream Web3 adoption

[14] Charting your Web3 path forward