Web3, NFTs, Metaverse: The tools for a truly decentralized future


Attendees at the Blockdown Croatia 2022 celebration witnessed Cointelegraph’s discussions about the Web3 ecosystem, non-fungible tokens (NFTs) and the sociology of the metaverse. It turns out that ongoing innovations in the crypto ecosystem are well positioned to determine the future of media and entertainment.

While crypto continues to blur the lines between the virtual and physical worlds, Cointelegraph’s editor-in-chief, Christina Corner, agreed that “it’s a crazy year” as the growing influence of crypto innovations within media companies during the blockchain festivities. was talked about.


Corner highlighted use cases within the NFT space that provides a platform for independent artists and journalists to raise funds and combat real-world challenges such as climate change. In a separate discussion with Dylan Dudney, founder of NFT3, a unified identity network, Corner raised questions concerning the merging of the virtual and physical worlds in the metaverse.

According to Dudney, real-world problems have a good chance of seeping into the metaverse despite the merger of the two worlds. However, he suggested developing a proxy system in which users are verified but can choose not to disclose their identities to other members of the metaverse.

As the world slowly shifts to its new home, the Metaverse, Dudney believes that “the real world will get better.” However, people will need to develop some of the ethos of crypto – particularly with regards to fairness and personal responsibility:

“I think it’s time for the world to evolve and we’re starting to lay the technical foundation for it. You have to be mindful of how it plays out and take personal responsibility to really spread that message.” Will be.”

Demonstrating an internal effort to create the largest community-owned Web3 festival, Corner also revealed the relaunch of BlockShow – Cointelegraph’s flagship event – ​​as a decentralized autonomous organization (DAO) that allows attendees Allows to share and participate in shows. Organizing events. According to BlockShow CEO Addy Crezee, the BlockShow DAO aims to “bring more people to Web3 and help people realize the benefits of the ownership economy.”

Moving on in discussing the sociology associated with living in the metaverse, Dudney told The Corner:

“We’re still going to have the same problems because we’re still the same old boring human beings doing the same old little things, and great things too.”

If the crypto community can successfully decentralize the internet, then “this is a really future worth getting excited about” – at an individual as well as other societal levels.

With NFT3, Dewdney aims to provide a decentralized identity service for the Metaverse ecosystem. The service can combine various information with pseudonyms but with real-life identities. Ultimately, Dudney believed that the crypto ecosystem needed to evolve beyond the financial use case to the “human use case” of blockchain.

related: $600M . $3B flows to Metaverse and Web3 Gaming this month as a16z tips in

Venture capital firm Andreessen Horowitz (a16z) recently launched the $600 million Games Fund One, dedicated to gaming startups with a focus on Web3. The purpose of the fund is to support game studios, consumer application and gaming infrastructure providers.

As previously reported by Cointelegraph, the Metaverse project is also attracting investment from gaming industry giants. In April, Epic Games, creator of the popular Fortnite title, raised $2 billion to build the Metaverse with funding from Sony and Lego.