As the race for enterprise adoption in web3 accelerates, some folks imagine it’s not one-sided progress, however a journey the place each mainstream enterprises and crypto startups can deliver on new alternatives.
“The signals that we see right now are that the innovation is coming more from enterprises,” Gagan Mac, head of product and senior director of web3 providers at Circle, mentioned on a panel on the Avalanche House occasion in Seoul, South Korea.
For instance, Nike and Starbucks launched their very own NFT-linked providers: a market and a loyalty program, respectively. “NFTs may be down in value, but every single person who minted a Starbucks NFT with the Odyssey program, they’re all positive, and the value of their NFTs have grown,” Mac mentioned.
Dan Sun, startup success supervisor for web3 APAC lead at Google Cloud, mentioned that this market continues to be nascent. “We’ve been seeing what value we could bring to the new emerging markets and what kind of positioning we should be taking,” he mentioned. “So we’re still discussing, we’re still learning, and we’re still seeing which values we can provide.”
Lowering the barrier to entry might be so simple as fixing the terminology to make the know-how and web3 parts extra approachable. This is one thing we’ve seen occur with massive model corporations moving into the area; they use phrases like “digital” or “virtual” as an alternative of calling it web3 or the metaverse.
But what concerning the startups? “I think both parties have chances,” mentioned Lihan Lee, co-CEO and founding father of web3 information intelligence platform Xangle.