With any technology, the breakthrough comes great opportunities for entrepreneurship. so have you considered Web3 and Entrepreneurship? There’s a fantastic opportunity for brands and marketers willing to engage with it. let’s discuss it further in the way we all love “Numbers”.
Web3 has attracted great attention from capital markets. According to metrics reported by Forbes, “VCs deployed $30B+ globally in 2021 into crypto startups. “ and “There are 65+ crypto unicorns, with over 40 of them created in 2021. There were close to 50 crypto startups that raised over $100M in 2021.”
Ok a lot of big numbers but do you even know
what is exactly web3?
Web3, the third generation of the internet, is all that we dreamed of it is secure, decentralized, democratized, and had the power to transform the way we interact with each other in the digital world.
A Web3 business is based on blockchain that incorporates decentralized and token-based economics to unlock new ways to generate value. This value is found within a token rather than traditional currencies. As an entrepreneur
web3 empowers the consumer, by allowing them to share data, and gain profit, a sense of ownership, and equity by being stakeholders in the brand – through digital assets, NFTs, tokens, achievements, experiences, etc.
What are the most famous web3 applications?
Cryptocurrencies, Decentralized Finance (DeFi), and Non-fungible tokens (NFTs) are the first applications that have found product-market fit and gained consumer adoption. let’s get to know them a little bit:
A digital payment system that exists purely as digital entries to an online database and instead of rely on banks to verify transactions It is based on blockchain technology, describing specific transactions and stored in digital wallets.
Bitcoin is the most and first famous representation of it.
2- Decentralized finance DeFi
It uses cryptocurrency and blockchain technology to manage financial transactions. DeFi provides a full spectrum of financial services, from everyday banking, loans, and mortgages, to complicated contractual relationships and asset trading.
3- Non-fungible tokens (NFTs)
It is a digital asset that represents real-world objects like art, music, in-game items, and videos. They are bought and sold online, frequently with cryptocurrency. and they actually might be sold for millions of dollars.
As an entrepreneur, this provides a fantastic opportunity to reimagine how you can build a business or even create a new one. Moreover, what is provided in this article only hints about Web3 and Entrepreneurship and there is a lot more to come yet about this topic.
Let’s Grow… Big… Fast together.
Have you checked the latest instaDeel’s Mena startup news roundup yet? if still not you can check it out from here