Participants in the BlockDown Croatia 2022 festival witnessed the Cointelegraph’s discussion on the social politics of the Web3 ecosystem, the Unchangeable Symbols (NFT) and Metaverse. It turns out that ongoing innovations in the cryptocurrency ecosystem are well placed to shape the future of media and entertainment.
While cryptocurrencies continue to blur the lines between the virtual world and the material world, Cointelegraph editor Kristina Cornèr agreed that “this has been a crazy year” when talking about the growing impact of cryptocurrency innovation within media companies at the BlockDown festival.
Cornèr pointed out cases of use within the NFT space that provide independent artists and journalists with a platform to raise funds and work against real-world challenges such as climate change. In a special discussion with Dylan Dewdney, founder of NFT3, the unified identification network, Cornèr raised questions related to the fusion of virtual and material worlds in Metaverse.
According to Dewdney, real problems have a good chance of infiltrating Metaverse despite the merger of the two worlds. However, he suggested developing a psuodenomous system where users are authenticated but may choose not to disclose their IDs to other Metaverse members.
As the world slowly moves into its new home, Metaverse, Dewdney believes that “the real world will get better”. However, it will require people to instill some of the ethics of cryptocurrency – especially in the context of fairness and personal responsibility:
“I think it’s time for the world to evolve and we’re laying the groundwork for a lot of that. You have to be careful how it plays out and take real personal responsibility for spreading this message. “
Cornèr demonstrated an in-house attempt to create the largest Web3 festival actually owned by the community and also showed the reboot of BlockShow – the Cointelegraph’s flagship event – as a Distributed Independent Organization (DAO) that allows participants to participate in and organize events. According to BlockShow CEO Addy Crezee, the goal of BlockShow DAO is “to bring more people to Web3 and help people find the benefits of the ownership economy.
When Dewdney went further into discussing the social politics associated with living in Metaverse, Dewdney told Corner:
“We’ll still have the same problems because we’re still the same old and boring people who do the same old little things and also great things.
If the cryptocurrency community can successfully decentralize the internet, “it’s a future that’s really worth getting excited about” – at the individual as well as other social levels.
With NFT3, Dewdney aims to provide distributed authentication services for the Metaverse ecosystem. The service can associate various information with pseudonyms but real identities. Finally, Dewdney argued that the cryptocurrency ecosystem needed to evolve beyond the financial use case into a “human use case” blockchain.
Connected: $ 3B slips to metaverse and Web3 gaming this month as a16z tips at $ 600M
The venture capital firm Andreessen Horowitz (a16z) recently launched a $ 600 million Games Fund One dedicated to startup companies focusing on Web3. The fund aims to support gaming studios, consumer programs and gaming infrastructure providers.
As Cointelegraph reported earlier, Metaverse projects are attracting investment from gaming industry titlers. In April, Epic Games, the creator of the popular Fortnite title, raised $ 2 billion to create a metaverse with funding from Sony and Lego.
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