The instruments for a future that is really decentralized

“It’s a future truly worth getting excited about,” NFT3 creator Dylan Dewdney said if the crypto community is successful in decentralizing the internet.

Our conversations about the Web3 ecosystem’s socio-politics, nonfungible tokens (NFT), and the Metaverse were broadcast to attendees of the BlockDown Croatia 2022 event. It turns out that the crypto ecosystem’s continuing developments are perfectly positioned to shape the future of media and entertainment.

When discussing the growing effect of crypto innovations among media organizations during the BlockDown festival, our editor-in-chief, acknowledged that “it’s been a hectic year.”

Cornr emphasized NFT use cases that provide independent artists and journalists with a platform to gather funding and address real-world issues like climate change. Cornr expressed worries about the mixing of virtual and real worlds in the Metaverse in a separate conversation with Dylan Dewdney, the inventor of NFT3, a unified identity network.

Despite the merging of the two realms, real-world problems, according to Dewdney, have a significant probability of leaking into the Metaverse. He did propose, though, creating a pseudonymous system in which individuals are authenticated but can opt not to reveal their names to other Metaverse members.

Dewdney believes that “the actual world will grow better” when the world gradually transfers into its new home, the Metaverse. However, it will be necessary for individuals to adopt elements of the crypto ethos, particularly in terms of equitability and personal accountability.

Cornr also disclosed the relaunch of BlockShow a flagship event as a decentralized autonomous organization (DAO) that allows spectators to hold a share in the show and participate in arranging events, as part of an in-house initiative to establish the largest fully community-owned Web3 festival. The purpose of BlockShow DAO, according to BlockShow CEO Addy Crezee, is to “attract more people to Web3 and allow individuals to enjoy the benefits of the ownership economy.”

If the crypto community succeeds in decentralizing the internet, “it’s a future worth getting excited about,” both on an individual and communal level.
Dewdney hopes to give the Metaverse ecosystem a decentralized identification service via NFT3. The service may link a pseudonymous yet real-life person to a variety of data. Finally, Dewdney believes that the crypto ecosystem must progress beyond the financial use case of blockchain to the “human use case.”

Andreessen Horowitz (a16z), a venture capital company, has created the Games Fund One, a $600 million fund dedicated to gaming businesses with a focus on Web3. The money will help game developers, consumer apps, and gaming infrastructure, suppliers.

Metaverse initiatives are drawing financing from game industry heavyweights, as previously reported. Epic Games, the maker of the famous Fortnite game, raised $2 billion in April with help from Sony and Lego to develop a metaverse.

Related