INDUSTRY OUTLOOK
The average person spends around 2 hours and 17 minutes per day but provides little value to most users , eating up our most precious resource – time . However , there is hope that a new breed of technologists and entrepreneurs can build a system with a community that benefits all .
• Composability and interoperability are gaining ground in Web 3.0 gaming and Web 3.0 social . For example , Laguna Games , a Web 3.0 game development and R & D studio , have announced a collaboration with Lens Protocol that will enable players to connect across multiple gaming experiences .
• Decentralisation in the gaming world will lead to a democracy and aid smaller game developers to breakthrough and establish their games without as many obstacles . This will only lead to more innovations in gaming .
Social media x Web 3.0
Crypto is a social tool that breaks down industrial-age economies of scale and replaces them with digital-age coordination at scale . In the current macroeconomic atmosphere , today ’ s workforce is on the lookout for ‘ side hustles ’. Continuing in this direction , we predict that social protocols will define how people organise and how culture flows .
Furthermore , we can explore the concept of decentralised social networks , which are based on open-source protocols where platforms are legally obligated to share the algorithm that decides what appears in users ’ feeds . Decentralised social networks play a key role in crypto as developers can examine and innovate on code , giving full control of data to the user and content to the creator .
It also greatly impacts the evolution of DeFi . In TradFi , most of the financial operations are performed on credit scores where little collateral is necessary . In DeFi the opposite applies , transactions are fully or over-collateralised . With the progress of Web 3.0 , soon we will be able to provide credit scores based on digital identity and by extension undercollateralised peer-to-peer loans . At this exact moment , DeFi will replace TradFi .
Anthony Lesoismier , Co-founder & Chief Strategy Officer at SwissBorg
How is this all linked ?
Countries , companies , the gaming guild – these are all social networks , and to thrive , humanity likes to reinvent the way we operate with technology .
Web 3.0 technology is providing a very strong foundation to build a new nation governed by humans and enforced by technology . Something impossible in the ‘ corrupted and censored ’ Web 2.0 world . The ultimate goal of crypto firms is to empower , connect and govern a community unfettered by borders – and we are slowly moving towards this . Stakeholders who jump on the Web 3.0 bandwagon will be the key decisionmakers in its adoption and will leave behind a legacy for future generations . �
In the last 20 years , social networks have reshaped our life from the way we communicate to the way we collaborate .
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