There is not a day in which the carrier terms of Web 3.0 technologies, blockchain and metaverse, are not used within the startup world.
But let's take a step back: what do these technologies consist of? And what correlations does the startup world find with the metaverse and Web 3.0? Let's find out together.
The Metaverse: a new immersive and decentralized world
Since its origin in Silicon Valley, the metaverse is understood as a new "digital and immersive world" within which we could transfer a part of our everyday life. Impossible not to associate therefore also therefore all the technologies related to the virtual reality and gaming market in this new universe, which makes the User Experience of the user its core asset.
However, a key aspect that we must pay special attention to when we talk about the metaverse is that it was not purely created "to play games," but rather was created to allow the user to interact in this environment through other contexts as well: the work environment, the place to meet friends and make new connections, entertainment at certain events (for example, Rocket Dreams through Nfactory was responsible for the creation and management of the Monza Meta Circuit) or shopping, and much more. Accordingly, we can refer to the metaverse as an environment within which the user can experience many freely explorable digital environments with interactive experiences.
Having arrived at this point, it is natural to wonder how Zuckerberg, who coined this name, defines the term metaverse: according to his presentation, the metaverse will be the definition used to bring together all these interconnected digital worlds, for example, by giving the user, with his or her avatar, the ability to move freely from one environment to another, allowing the storage of purchased digital assets and all property acquired within individual ecosystems.
The role of blockchain in web 3.0
The pillar of technology on which Web 3.0 is based is blockchain technology.
This new technology has as its first goal to create a decentralized version of the network, supported by a digital and participatory economy, potentially an alternative to the current centralized economy governed by the banking system and the actions of banks.
In the blockchain, values are thus exchanged peer-to-peer between users, without any intermediation, and also allow the makers of digital assets to set up "contractual" rules (such as Smart Contracts) that allow them to remunerate and distribute the proceeds from the sales of the tokens made, potentially in a version similar to the distribution of proceeds according to company shares.
Behind each transaction, potentially everyone can in fact become a "partner" in the realized project, or enjoy benefits that the asset generator makes available.
Similarly, tokens can also be exchanged by users through NFTs, actual non-fungible electronic certificates that attest ownership of an asset and are currently the most successful application of this new technology in Loyalty, Collection, Influencer Marketing & Fan Communities.
At this juncture, Web 3.0 does not presume to replace the current Web, but to complement it and move it toward a new standard. The new digital economy open to all will be realized when the mass market adoption of this technology occurs through a truly new ecosystem, decentralized and interconnected, supported by hardware and technology.
The role of startups in web3.0
The Web 3.0 ecosystem thrives on innovation, and startups by definition bring it. Experimentation, use of new algorithms, and technologies that lead to massive adoption of this new standard are the main areas where successful startups are focusing right now.
Investors play a key role, validating pioneering investments in an as-yet unexplored field that sees the potential for mass adoption of these technologies as key to the development of Web 3.0 itself.
2022: Some Successful Startups in the Web 3.0 & Metaverse
Here are some interesting startups at the European level:
Crowdpad in London
It was founded in 2021, with a final investment round in 2022, this Web 3.0 startup has raised $2.62 million. Crowdpad sees community tokens as a new tool for creators to interact with their fans, making available exclusive content, behind-the-scenes experiences, and even royalties. Although it is still in its infancy, it is expected to be an incredible revolution in the community space: the future prospects "tokenize" much of the community, allowing members to earn rewards given in proportion to their time and contribution.
Cryptio in Paris
Founded in 2017, with a final investment round in 2022, it has raised $11.2 million. Cryptio is a tax and accounting platform for digital assets. Its products would provide a bridge between Web2 companies that want to enter Web3, so as to make Web3 more accessible.
Alps Blockchain in Italy
Founded in 2018, with a turnover of 17 mln euros annually, Alps Blockchain is a leading company in Italy specializing in blockchain and mining research and development and is composed of entrepreneurs, IT technicians, hardware and software developers, and technology and innovation enthusiasts.
They are responsible for building and operating computing power generation centers necessary for blockchain development, powered by clean energy sources.