A Starter-friendly Guide to Web3
Web3 — an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economics — is a relatively new space where there are so many opportunities for everyone. According to Forbes, in 2021 VCs deployed $30B+ globally into crypto startups; blockchain-related startups raise $20 million, and the average seed raise has risen from $1.5M in 2020 to $3.3M. Still, according to a recent report from cryptocurrency marketplace Gemini, women make up just 26% of Web3 investors. In addition, women make up less than 15% of bitcoin investors. This is alarming because web3 is all about disrupting the current system and building a more democratized world. As Marieke Flament mentioned in this post, “In this new world of Web3, diversity is even more paramount: as the rules are being redefined, we need diversity of thought to build an inclusive future around these new tools”.
To bring more women into web3, F3Ventures in Vancouver recently organized a 2-day “intro to web3” F3STIVAL, showcasing trailblazing women in the space. SoGal’s own Pocket Sun taught a masterclass on how to invest in web3 companies. It was a super energetic event filled with exceptional women, innovators and builders!
SoGal’s co-founder Pocket Sun at F3STIVAL
During the event, the remarkable panelists shared many easy-to-understand resources to help people get started with web3. We decided to compile some of the resources shared during F3STIVAL in this blog post, with the hope that they will give you the nudge you were looking for to join web3 and its community.
So…where TF do we start?
One of my absolute favourite resources shared during F3STIVAL is a Twitter thread by Taylor Monahan, Founder and CEO of MyCrypto. You don’t want to miss this guide, as it is one of the most complete and easy-to-understand lists of resources I’ve seen so far. Tay made our life easy by covering the fundamentals, Bitcoin, Ethereum, How to NOT lose your crypto, Web3 and more!
Looking for the ultimate explainer of web3 in a newcomer-friendly language? Check out “The Latecomer’s Guide to Crypto” by Kevin Roose in the New York Times. What I love about these articles is that they are written in a Q&A format and touch on the initial doubts people have when trying to understand web3. I also appreciate that Roose writes in a balanced tone, portraying both the good and the bad, which I find really useful as a newbie.
If you are into books, the Token Economy: How the Web3 Reinvents the Internet came highly recommended at F3STIVAL as a starter guide into all things web3.
If you are not into reading, that is totally fine! During F3STIVAL, the panelists shared many useful YouTube channels, like Dapp University, HashLips, Coin Bureau, and aantonop which is my go-to channel for learning more about crypto and blockchain.
Bankless was also a popular recommendation among the panelists, as a channel where you can explore more about crypto money and crypto finance. You can also follow them on Twitter or listen to their podcast.
And speaking about podcasts, Into the Metaverse was recommended, where Bloomberg Intelligence Senior Analyst Matthew Kanterman and Supersocial founder and CEO Yonatan Raz-Fridman bring guests from the industry to break down the concept of Metaverse.
Do you want to invest in web3 or other cutting-edge companies but don’t know where to start? Check out Fempire x SoGal, SoGal own angel investment community & syndicate empowering more women to get on hyper-growth startups’ cap tables. You can get a headstart at Angel Bootcamp, THE most accessible, inclusive, and holistic online angel training program. You can also start with this podcast episode about getting started as an investor.
I saved the BEST for last: F3STIVAL speakers! Without a doubt, the event’s highlight was this list of powerful women who inspired the attendees through their personal stories. What better way to learn about web3 than following these fantastic women? I encourage you to look at the list of speakers, follow as many of them as possible, and check out their communities. Believe me, this is a friendly source of web3 knowledge and inspiration!
Web3 and crypto can be intimidating as it is a new concept for most of us, and it is disrupting what we know and how we know. However, it can also be a powerful tool to increase equality in communities that most need it, give people access to opportunities that have long been denied to them by the current system, and, when used properly, a pathway to freedom. One of my biggest takeaways from the event that I would pass on to you is that we are all learning about web3. Even those who are deeply in the space are constantly learning and re-learning as it is in development and many questions are yet to be answered. Just take one step at a time and give it a chance! You might end up surprising yourself.
Regina is a Venture Fellow at SoGal Ventures, a Pre-seed & Seed VC firm for next-gen women and diverse entrepreneurs changing the future of living, working, and staying healthy.
