Web 3.0 Development Insights
Web 3.0 Background
The amount of data and information on the internet continues to grow exponentially daily by the second
It follows on constant availability of new data sources from articles, images, podcasts, videos and everything else available on the web
As a result, with the present and past large data pool, businesses need to better understand and process this data in such a way, that is cost-effective. Businesses are developing new understandings, that are presented to them with investment opportunities such as digital assets.
What is Web 3.0
Web 3.0 or Semantic Web combines the virtues of Web 1.0 and 2.0 by adding machine intelligence. This continuous Web development, is moving fast towards a more dynamic and faster changing data analysis, where the availability of data, knowledge banks and digital rights with monetisation can propel businesses in almost all areas.
Investment as a new asset class
Digital assets continue to be highly desirable, now including NFTs availability to purchase via reputable international brokers and auctioneers houses. New developments can also be seen that VCs have invested $20.7bn in cryptocurrency start-ups as of October 2021, which is an increase of more than 160% from the previous record in 2018.
Andreessen Horowitz in June 2021, launched its third crypto fund raising $2.2 billion, which then it was “largest crypto fund ever raised”. It then followed by the VC firm Paradigm announcing a new $2.5 billion crypto venture fund. These funds at the time have raised twice as much as they had hoped for.
As the universe of digital assets has expanded with such speed in the past few years, most tech-focused VCs are growing their focus into digital assets and incorporating into the ecosystem. To note there are certain aspects of a digital assets or a Web3 fund that differ from traditional ‘equity’ VC funds which derives new challenges including regulation.
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