Web3, NFTs & The Metaverse: Making the Future Of Web 3.0
Cointelegraph spoke to attendees at the BlockDown Croatia 2022 festival about the sociopolitics of the Web3 ecosystem, non-fungible tokens (NFTs), and the Metaverse. It turns out that ongoing innovations across the crypto ecosystem are well-positioned to dictate the future of media and entertainment.
While crypto-related innovations continue to blur the digital and physical worlds, Cointelegraph’s editor-in-chief Kristina Cornèr agreed that “It’s been a crazy year” when discussing the rising impact of blockchain technology in media companies during the BlockDown festival.
Cornèr spoke about use cases in the NFT space that allow independent artists and journalists to raise funds and counter real-world challenges such as climate change. In a separate discussion with Dylan Dewdney, founder of NFT3, Cornèr talked about merging virtual and physical worlds in the Metaverse.
Dewdney believes that real-world problems have a good chance of seeping into the Metaverse. But he suggests developing a pseudonym system, wherein users are verified but can choose not to disclose their identities to other members of the Metaverse.
Dewdney believes that the real world will become better as the world shifts into a new virtual home. However, it will take some people to start thinking of equity and personal responsibility as the crypto ethos for this to happen.
BlockShow — Cointelegraph’s flagship event — is rebranding as a decentralized autonomous organization (DAO) that allows attendees to own a stake in the show and participate in organizing events. According to BlockShow CEO Addy Crezee, the goal at BlockShow DAO is “to bring more people to Web3 and help people feel the benefits of the ownership economy.”
Dewdney told Cornèr that in the Metaverse, “we’re still going to have all the same problems because we’re still the same old human beings who do the same old petty things and great things.”
If the crypto community can successfully decentralize the internet, “it’s a future worth getting excited about” — at an individual and another social level.
Venture capital firm Andreessen Horowitz recently launched a $600 million Games Fund One. The fund will invest in gaming startups with a focus on Web3. It aims to support game studios, consumer applications, and gaming infrastructure providers.
Cointelegraph previously reported that Metaverse projects are attracting investments from gaming industry titans like Epic Games, the creator of Fortnite. In April, Epic raised $2 billion to create a metaverse with funding.
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