Web Summit 2022, Web3 is on the move

The Web Summit, born in 2010 in Lisbon, will take place in Lisbon until 2028.

Lisbon is once again a welcoming city for the over 71,000 attendees of the 2022 Web Summit, 42% of whom are women. The Web Summit is the flagship conference setting the tone in Europe this year with 2,630 startups (+140 Web3) and exhibiting companies, 1,120 investors, as well as 1,040 speakers from 160 countries participating in talks on nearly two dozen scenes . Back to Web Conferences3.

This year’s event focused on such important topics as NFT development, the future of Metaverse, and most importantly, where Web3 is heading. In the first two days there were discussions on Finance, Metaverse and Gaming, with leading names in the industry including Charles Hoskinson, founder of Cardano, Molly White, creator of Web3, and Ben Mackenzie, actor and journalist. Topics range from bitcoin adoption in El Salvador to whether it is a success or a failure. There have been discussions on how NFTs can define digital ownership with the CEO of Yuga Labs and how to prevent crypto hacks with the CEO of Chainalysis.

The speakers promise many opportunities with web3 and the metaverse where web3 adaptation is accelerating in the corporate world and many companies are already designing experiences and testing the metaverse space and its potential on different platforms.

The concepts of NFT, Metaverse and Web3 are still not clear to many people. Similarly, many people still do not understand the transformation brought about by the so-called “data age”, in which virtually everything in consumers’ lives can be mapped by companies via the Internet. But in tech and innovation environments, such as the Web Summit conference, the problems are not only obvious, but also high on the agenda. The idea that the future has already begun permeates the atmosphere of the event and the word of the moment is often autonomy, decentralization. The main idea is the decentralization of power with the blockchain, the same used as the basis for trading cryptocurrencies. It functions as a kind of encrypted cashbook, which records information (including financial transactions) on the Internet, but in a permanent and immutable way. This system is shared, so anyone can save information to you through any platform that allows it, such as the Ethereum network. Therefore, only that person (and the other party involved in that transaction or information exchange) has access to the information.

It goes without saying that investments for Web3 will have to focus more on sustainable business models, margins, impact creation and consolidation rather than rapid growth. It is through the blockchain that NFTs are exchanged and the metaverse is built. The Web Summit is also building its future with the potential of Web3.

The Web Garage3

Continue in this week 04 newsletter:

  • The Startup Heritages.io
  • 🎙️Audio disc (14 minutes): Margaux Klein CEO Heritages.io
  • Decentralized Storage Alliance
  • Strategic partnership in Korea
  • Go all the way to NFTs
  • Web Summit: Nicole Muniz, CEO of Yuga Labs
  • Web Summit: The inventor of the Web, Tim Berners-Lee
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