Web3 Revolutionizes Startup and Investor Landscape

At Paris Blockchain Week 2023, a panel of experts in Web3 gathered to discuss the ways in which this new paradigm is transforming the startup and investor landscape. The panel discussion titled “Crypto, Culture, and Capital: How Web3 is Changing the Game for Startups and Investors” focused on the opportunities and challenges that come with the emergence of Web3.

Web3 represents a fundamental shift from the traditional Web2 paradigm, with new opportunities for startups and investors. The panelists discussed how Web3 startups are different from Web2 startups, with different cultures shaping and affecting the various ecosystems.

Laurenz Apiarius, founder and managing partner of Blockwall Digital and Blockwall Capital, noted that there are positive and negative effects of the Web3 revolution. While there have been awesome milestones achieved by Web3 entrepreneurs, there are also negative effects resulting from entrepreneurs who take advantage of the Web3 narrative. Some entrepreneurs overestimate their valuation, failing to deliver on their promises, which harms investors who lose money in the process.

Amos Meiri, founding partner of Node Capital, emphasized the need for investors to understand the technical, legal, and marketing aspects of the projects being built. Meiri stated that it is crucial for investors to support entrepreneurs in the right way, helping them navigate the challenges of the Web3 landscape.

Igneus Terrenus, head of partner relations of BitDAO, spoke about the decentralized autonomous organization (DAO) model of Web3 startup governance. DAOs are organizations that operate through rules encoded as computer programs, with decisions made through a consensus mechanism. Terrenus noted that while the DAO is not a perfect model, it offers exciting opportunities for startups and investors. DAOs can help to reduce the need for intermediaries, increasing efficiency and reducing costs.

However, the success of DAOs depends on incentivization and education of stakeholders. DAO stakeholders need to be incentivized to participate in the decision-making process, and educated about the rules and processes involved.

The panelists also discussed the challenges that entrepreneurs face in navigating the Web3 landscape. Web3 startups require a deep understanding of technology and legal frameworks, which can be daunting for many entrepreneurs. In addition, the lack of clear regulatory frameworks for Web3 startups can make it difficult for entrepreneurs to operate in a compliant manner.

Despite these challenges, the panelists were optimistic about the potential of Web3 to transform the business landscape. With its disruptive potential and new opportunities for startups and investors, Web3 represents a major shift in the way we think about business and innovation.

The emergence of Web3 has also led to a renewed focus on building community resilience to crises through mutual aid. The Web3 paradigm emphasizes decentralized, peer-to-peer networks that enable individuals and organizations to collaborate and support each other. This can be seen in the rise of decentralized finance (DeFi) platforms that allow individuals to lend, borrow, and invest in a decentralized manner, without the need for intermediaries.

Overall, the panel discussion highlighted the exciting opportunities and challenges that come with the Web3 revolution. With its potential to disrupt traditional business models and provide new opportunities for startups and investors, Web3 is set to transform the way we think about innovation and entrepreneurship.


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AI-Generated NFT Collection to Preserve Ukrainian Art and Offer Humanitarian Support

Through a global coalition of advocates, digital innovators, artists, and educators, an AI-generated NFT collection has been established to conserve Ukrainian art and raise funds for humanitarian aid.

Dubbed MINT FOR UKRAINE, the non-fungible token (NFT) collection of one million artworks is seen as a stepping stone toward keeping Ukrainian culture in the history books. 

Tymofiy Mylovanov, the President of the Kyiv School of Economics, noted:

“There is no nation without its culture. Now with the help of AI and the blockchain, we have a chance to make pieces of Ukraine stay forever in the world’s history. While we are fighting for the freedom of our country, join us in the fight for our culture and help Ukraine.” 

Minting the NFT art pieces will be done for free after creating a wallet and donations channelled through crypto or currency of choice. Per the announcement:

“Up to 10% of donations are directed to support the Ukrainian culture (artists and cultural institutions), while the remaining 90% are devoted to humanitarian support of Ukraine, through the vetted network of charities.”

Phil Bosua, the creator of the collection, pointed out:

“I think the human/AI collaboration is the next great art movement. We now have a direct line from thought to expression and we can create as much art as we can imagine. When we pair these ideas with a global cultural crisis, art has the ability to cause change on a scale we’ve not yet imagined.”

The MINT FOR UKRAINE is also being made a reality through a joint effort by OpenSea, the Kyiv School of Economics Foundation, four Ukrainian Ministries, Polygon, Artificial Intelligent Mind Collective, Ukraine.ua, Polygon Studios, and Reface. 

Last month, Ukraine’s Ministry of Digital Transformation launched a MetaHistory NFT Museum, a blockchain-based collection of digital images, to tell the story of the Russian invasion of Ukraine.

Image source: Shutterstock


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