The next generation of the Internet is Web 3.0 and more and more investors are discovering this for themselves. Although still in the early stages, it is an investment with far-reaching implications for investment decisions. According to a study by ARK Investment Management:
The rise of Web3, blockchain & NFTs has disrupted many industries, including video gaming. To help us unpack the role of Web3 in the video game industry, @johnwastakenCEO of @playmythicaljoins @GrousARK & @andrewkimARK on an episode of FYI. lists! https://t.co/X2m7XNvH3C
— ARK Invest (@ARKInvest) April 25, 2023
By 2030, we project Web3 will reduce annual offline consumption by $7.3 trillion and increase direct online spend by 28% annually, from $1.4 trillion today to 12 $5 trillion per year.
- Owning digital assets fuels Web 3.0 development
- Web 3.0 can create and promote a completely new financial system
- DeFi offers all aspects like payments, lending, investing and trading
- The sector for DeFi is valued at over $486 trillion
Investments in Web 3.0 are increasing
ARK Invest has just participated in a Series C investment round from Web3 gaming studio Mythical Games. Along with partners such as Andreessen Horowitz and Animoca Brands, multi-million dollars have again been invested in the $1.25 billion company, this time 37 after $150 million in November 2021.
Mythical Games is known for its Mythical Chain blockchain and gaming ecosystem, Mythical Marketplace and the popular blockchain-based games NFL Rivals and Blanks Block Party. NFL Rivals hit one million downloads last week, two months after its release.
Web 3.0 benefits from consumers spending more time and money online. This increases acceptance and trust in digital assets such as NFTs, which at the same time strengthens the relevance of the metaverse.
As a fundamental technology, blockchain forms the necessary platforms for owning digital assets. If consumers and users of the new technologies can not only use or rent digital assets, but also own them, then a whole new ecosystem will emerge.
The potential of Web 3.0
Currently, users are typically subject to product or service restrictions, for example when they want to transfer in-game assets from one game to another. In contrast, public and decentralized blockchains allow users to store and trade their assets on a legitimate secondary market.
Web 3.0 offers an opportunity in the form of a decentralized alternative for many areas of everyday life. Starting with creating and owning digital assets, through blockchain games and DeFi. Users will be able to prove their identity online without trusting or relying on a central authority. Crypto wallets or special Web3 wallets will be used for this.
Decentralized networks create a token economy with financial incentives for processing and immutable data recording. This allows the creation of any type of application with any permission system.
Complexity will increase as identity, data storage, smart contracts and digital applications combine. Platforms like Launchpad.XYZ have created the ideal basis for this, because from there users and token holders control all areas of the future Internet.
Instead of having to rely on a network of different providers with different credentials and digital identities, Launchpad.XYZ grants central access to Web 3 and its potential, which seamlessly switches between the different areas.
The five main potentials of Web 3.0
- An automated, rule-based financial system based entirely on the system of the Internet. DeFi, including NFTs, will lead to the emergence of a more open, efficient and innovative financial system than we know today. DeFi is considered the main driver for building economies in Web 3.0.
- Complete online control of identity, data and privacy leads to sovereign identities. These prevent someone else from impersonating a person or stealing their identity. In times when users are increasingly going digital, the development of these sovereign identities takes on a new meaning. Web3 wallets will be available in the future to manage digital identities.
- New ways to organize and coordinate online communities. Decentralized Autonomous Organizations, DAOs, take over the self-government of ecosystems on behalf of the members. They may be elected or eligible to participate in the DAO by holding tokens in a project. Also the control of social activities in large communities, something with the more than 1.1 million followers of Wall Street memesbecomes much easier and more efficient with Web 3.0 and the DAOs.
- Gaming and Metaverse experiences are converging with offerings of decentralized finance products. With digital ownership and sovereign identities, immersive and virtual user experiences are emerging that will go well beyond Web 2.0. The surface of the games and applications will not differ significantly from the current offers. But deep down, DeFi, Sovereign Identities, DAOs and other areas of Web 3.0 have led to immense changes that significantly improve the user experience. This also includes giving users complete control over their private data.
Immersive and virtual gaming experiences in Web 3.0
In Web 3.0, complex applications and organizations can be created completely digitally. The items, land or possessions in games can be tokenized with NFT and made readable for smart contracts. DeFi allows players to pay for these so-called in-app items. The money will be a key revenue stream for gaming and Metaverses experience providers.
Thanks to the sovereign identities, ownership can be clearly verified and checked. Players can take their assets, friends, and achievements with them when exiting a game. There will also be a large gaming hub at Launchpad.XYZ. This one is also geared towards building lasting communities beyond the games and metaverses.
Currently, current game and Metaverse developers are committed to the major platforms. If you remove titles from a platform, they risk losing their revenue. Web 3.0 improves the current situation for everyone involved, in which few companies are holding participants “as capitalist hostages”.
provider like Launchpad.XYZ give users the chance to build a community of like-minded people who can also take over some or all of the governance tasks.
Conclusion: With Launchpad.XYZ a platform is available that takes users into Web 3.0. The Internet of the future has enormous potential and is becoming very complex in many areas. This complexity harbors the risk that not all Internet users will have easy access to all Web 3.0 offerings.
Therefore, developments of platforms and solutions like Launchpad.XYZ are particularly important. They give everyone an opportunity to benefit from the great opportunities around DeFi, NFTs, digital identities or gaming.
The native utility token $LPX is currently available in pre-sales for only $0.0445. The development of the platform is already fixed in the roadmap, as is the schedule for it. Investors can access immersive offerings on an accessible platform and later trade the coin on public trading platforms. The developers are also currently considering a staking option, but nothing has been decided yet.
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About the author: Stefanie Herrnberger works as a freelance speaker and editor. Her many years of professional experience in the areas of blockchain, cryptocurrencies and NFTs offer her the perfect background to report on current news and developments in decentralized and central financial markets. Stefanie has been investing in cryptocurrencies for several years. She understands the challenges and opportunities for crypto traders. Publications: https://de.cryptonews.com/editors/stefanie-herrnberger https://blockchain-technologie.digital/ https://www.facebook.com/groups/cryptonewsde/