3 things that need to happen for Web3 to (really) take off

VentureBeat July 31, 2022
Emma Cui, LongHash Ventures

Web3 is the next generation of the internet that will redefine our everyday digital experiences. Leveraging cryptography and distributed-ledger technology, Web3 is laying the framework for a user-owned and controlled internet. A tsunami of Web3 projects has emerged, unlocking new opportunities for various industries like financial services, gaming, esports, media, entertainment, retail, and more.

The Web3 ecosystem is currently undergoing significant growth in terms of funding from venture capital. There is an ever-expanding list of Web3 startups, be it DeFi protocols, NFTs, decentralized autonomous organizations (DAOs), play-to-earn (P2E) games, data storage and social media services.

According to a report by DappRadar, venture capital funds and investors have already invested more than $2.5 billion into blockchain gaming and related infrastructure during...

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