A-list speakers from Animoca Brands, Hex Trust, Alchemy Pay, NFTScan, BuilderDAO, Desyn Protocol, GBV Capital, Blockchain Academy Group, and more predict a boom in consumer-facing applications.
HONG KONG SAR – News Direct – 19 April 2023 – Bing Ventures, a pioneering VC firm in Asia that backs entrepreneurs and early-stage startups in Web3 and blockchain, concluded its side event entitled “Web3 Reimagined” at the Hong Kong Web3 Festival 2023 on April 14.
It was worth noticing that panelists on both stages shared positive views on the development of the industry and believed the flipping point for a boom in Web3 consumer applications may be imminent. Entrepreneurs in several sectors indicated that the fundamentals of the industry were not shacked by the high-profile black swan incidents and bankruptcies in 2022. Talents continue to flow into the space, entrepreneurial activities are strong, and regulators worldwide are gradually learning about Web3. In addition, empowering technologies such as AI are bringing new possibilities to the industry.
Sector-wise, several investors including Animoca Brands mentioned that they are doubling down on consumer-facing applications from gaming, fashion, music, and education to custody solutions, payments, and social networking. As more and more already-successful Web2 companies realize that their business models can work better with Web3 technologies, the number of consumer-facing applications will grow exponentially.