Within the next 10 years, NFTs will be the largest Web3 segment in terms of market capitalisation. They are simply a much more natural way to represent assets, rights and even facets of identity and reputation.
Much of the value in Web3 has been circular because we haven’t built an actual digital economy yet. NFTs are the answer to that, through use cases in games, metaverse, music, and more.
Of course, speculative activity and volume have slowed down due to market conditions, but builders and investors are still incredibly vibrant, with billions in investment in gaming and NFT projects and infrastructure this year itself.
That’s why at LongHash Ventures, our mission is to accelerate the adoption of Web3 by investing and working with builders, which we have done through our accelerator and fund since 2018.
What attracted me to ARC, began with my early conversations with Elroy where we spoke about the potential of a community centred on co-creation. That spirit aligns closely with the values of Web3 which I have always championed.
One that incorporates the essence of Web3 values – open collaboration, shared ownership, and a call for everyone to rise up to contribute in your own way to missions you care about.
Also, curating and qualifying the first members entering the community can help form a strong initial kernel of trust and culture from which new connections, ideas, and ventures are born.