What are the opportunities to look for next year in Web3?
In this Twitter space of WSJ, host Elena Corchero is joined by Robby Yung, Daria, Modya and Dave Carr to discuss what happened in the recent 12 months, gaming, NFTs and what to look forward to next year.
Read our notes below to learn more
About Dave Carr
Director of global partnerships at Verse Digital.
Verse Digital onboards brands to Web3 in the metaverse.
About Daria
Founder of DRESSX.
Worked in the fashion industry.
About Modya
Co-Founder of DRESSX.
Worked as a media journalist.
Worked as an editor of a magazine in the fashion industry.
Launched an international showroom out of Paris for wholesale and helping brands to participate in the global economy.
The first use case of DRESSX when it was launched was dressing up people for their photos.
About Robby Yung
CEO of Animoca Brands.
Involved in the gaming industry for 10 years.
Almost 6 years of experience in the blockchain.
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Gaming, NFTs and Learn-to-Earn
Robby recommends thinking about sustainable economies because one of the things that’s very different about creating a tokenized economy for a game is that it’s an open economy.
Launched an education product which is a series of NFTs throughout their tiny tap subsidiary and the idea behind it is to see if they can leverage NFTs and tokens then think about teachers as creators.
Released Publisher NFTs which serves as publishing rights of a specific course from a specific teacher.
Dave thinks people need to investigate what it means to gamify something.
Many scientific studies have shown that kids and adults will absorb more information and education because it’s done in a playful, challenging and reward type system.
FTX effects on B2B
Robby noticed over the last several weeks that what happened with FTX is most likely criminal activity and has nothing to do with Web3, people he’s talking to regarding entertainment or consumer products clearly understand the difference now between that and fintech.
Dave thinks the trust comes from education.
Education is key to make sense allow people to sift through the mainstream coverage which tends to lump everything in together.
Daria thinks it's important to make it simpler and better for people to understand Web3.
Dress X partnership with Meta
Dress X will provide access to deliver fashion in Meta products.
Dress X is a digital fashion company first, not the other way around.
Web3 and NFT are among the ways to distribute digital fashion.
Dress X NFTs come with several utilities, one is the possibility to wear it in augmented reality.
Interoperability
Robby thinks it’s the biggest challenge because one of the fundamental ideas of Web3 is to have property rights over digital stuff but the only to truly present that is if people are able to take their digital stuff with them from place to place.
This year, they’ve offered interoperability between PFP projects and gaming projects like The Sandbox.
It is a challenge because all of the existing metaverse have been built in different ways with different types of technologies or game engines.
They opened the metaverse alliance which is a non-profit consortium that they use as a platform like a town circle where companies and individuals can join to work on community driven solutions to these technical problems.
What to look forward to next year
Robby thinks VR in particular is going to remain a relatively niche high end technology due to the cost of the hardware, you have to have the hardware to begin with and the distribution of a new hardware into the hands of consumers on a mass basis is always a challenge.
Robby thinks AR would have a higher uptake in terms of consumers using applications because people can do it on their smartphone.
AR and VR will be a big game changer in the fashion industry.
Check out these important links
TODAY’S EDITION IS BROUGHT TO YOU BY TREZOR HARDWARE WALLET
Navigating the waters of crypto is risky; even the biggest CEXs & stablecoins can have huge risks…
This Christmas you can help onboard your friends & family in the best way, by introducing them to self-custody. Don’t trust CEXs or wallet providers, trust yourself.
Act now, click the link below & give the gift of security.