www.ceotodaymagazine.com a paradigm shift in how entrepreneurs can raise non-dilutive capital and then raise long term growth capital through long duration institutional stakeholders. A good balance between the equity and token-based business models is however still rare. If the space is to grow and power web 3.0, layer 1 blockchains need to be reliable and robust, useability needs to increase for mainstream adoption and the nurture of communities who can bring support and ideas to projects is vital. What is web3 and why is it so important that there is now a bridge for technology firms to cross from web2 to web3? Web 1.0 laid the grounds for the information economy, made the internet more usable and gave us the ability to ‘read’. Web 2.0 led to the creation of the ‘frontend’ platform economy and allowed apps to provide ‘read and write’ capabilities. Web 3.0 is the ‘backend’ token economy is powered by smart contracts and the blockchain with applications connected to users’ wallets. Applications in the Web 2.0 world rely on some form of a centralised database to deliver data and help to enable functionality. In Web 3.0 applications make use of a decentralised blockchain. With blockchain, the basic idea is that we replace a central authority with consensus whereby we allow anyone to participate in the verification of transactions and be compensated through a network token. Emerging governance within the blockchain and Web 3.0 community is the concept of a Decentralised Autonomous Goldman Sachs predicts that the metaverse is an $8 trillion opportunity in terms of monetisation and revenue generation and I firmly believe in the scale of the marketplace, give or take a trillion. “ “ metaverse special 15
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