Despite Crypto&NFT Bear Market, Web3 industry still growth

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Generation Foundation

3 min readOct 14, 2022

Economic markets around the world are facing the biggest recession. The ETH chain’s TVL fell to about $40B in October, compared with $135.19B on January 1 this year. However, various reports and experts are optimistic about the WEB3 industry.

Former Google Ads Department President, WEB3 Startup Founded : Link

Ramaswamy, who was in charge of Google’s advertising business from 2013 to 2018, received an investment of 40 million dollars from Coinbase and Sequoia, and established ‘nxyz’, a WEB3 search startup.

“To me, the big advancement with a blockchain is that it introduces this idea of decentralized computation, where you’re uploading a piece of code to a blockchain and the code is running there,” Ramaswamy said in a CNBC interview. “No one is in charge. It is decentralized storage that is owned by a collective. Plus, they also have utility in the form of a native token currency that has been designed to give incentive for the system.”

Uniswap creates WEB3 ecosystem beyond WEB2 : Link

Uniswap has raised $165 million in investments from Polychain Capital, A16z, Paradigm, SVAngel, and VariantFund to separate and strengthen the WEB2 and WEB3 ecosystems.

Princess of Monaco, “WEB3 allows us to create assets and connect backers.” : Link

The Princess of Monaco wants to aim for the WEB3 ecosystem and help the poor through the issuance of NFTs. She says starts by connecting her sponsored ecosystem, which is why she’s oriented towards the WEB3 ecosystem.

About Generation

Generation (GEN) is an interoperable protocol for extending the Web 3.0 ecosystem.

GEN intends to actively support the three values of ‘freedom’, ‘sovereignty’, and ‘decentralization’ while composing the Web 3.0 ecosystem. The first ‘freedom’ guarantees ‘freedom’ of expression and the privacy of data by utilizing blockchain. The second ‘sovereignty’ allows users to strengthen and own the ‘data sovereignty’ in the Generation ecosystem in line with the Web 3.0 era and obtain rewards by using it. The third ‘decentralization’ utilizes Generation Protocol to operate decentralized networks and assets.

Through these three values, users can experience the true Web 3.0 and become the members of GEN ecosystem.

Why Generation?

GEN utilizes the GEN Protocol to allow projects of various blockchain networks to solve the on-chain scalability trilemma of the blockchain network by utilizing the functions of GEN Protocol and Generation’s products, Pinetree Space and 3 Seconds Club. Participants can expand and complete the Web 3.0 ecosystem with users through fast transaction speed and payment.

For more information or partnership inquiries, please contact us at contact@gen.foundation.