Why do professionals in different fields migrate to Web 3.0?

In this report, Rockaway China Blockchain Fund chief investment officer examines the challenge between potential Web 2 and Web 3 fans. You may not have heard of today’s technology companies that liken the dinosaur world to endangerment, but these companies deserve it. description and if they do not develop, they will be destroyed and will remain in history.

According to Kevin Desk, technology giants such as Amazon, Google, Meta and… have become too dependent on old business models, which is to make money from advertising. With this revenue model, these companies grow by an average of 15.7% per year.
Although advertising technology is still an attractive option, the Chinese bloc has much higher potential for growth.

Dusan Kovacic is the Chief Investment Officer of Rakawi China Blockchain. This venture capital fund (VC) invests in digital assets and infrastructure.
Adhesion rates are growing rapidly in Web 3 businesses. For example, the number of daily active addresses in Atrium has increased from 200,000 in January 2020 to 550,000, an increase of about 65% per year.
Revenue from Atrium projects, which were estimated at $ 200,000 a week in January 2020, has now risen to $ 31 million a week. The advent of Layer 1 protocols also promises significant growth in the future. Solana’s daily active addresses have grown like Atrium, with 550,000 active addresses in the Solana ecosystem since January 2020, when there were no active addresses.

Continuing to use this 20-year-old business model that is content with online advertising is no longer so appealing to the best talent. These smart and educated people are looking for new opportunities that Web 3 will bring them.

We are now witnessing the arrival of a large number of new technologists in this field. Electric Capital reports that the number of Gathab public reservoirs related to Chinese blockchain projects increased by 100 percent last year.

Read also: The best countries in the world to start a digital currency business

This increase in popularity is not limited to technical developers, but also includes talented people in management positions. New, former senior marketing manager (COM) of the Meta Wallet project, now holds the same position at Circle. The former CEO of Amazon AWS is now Gemeni’s chief technology officer. The former chief financial officer of Lyft and the former director of development of Uber have joined OpenSea.

Chris Leahyn, a former CEO of Airbnb, now manages a venture capital fund for digital currencies. The former YouTube boss has also joined Polygon Studios. Many items can be added to this list.

To understand the popularity of this space, in addition to hiring these people, you have to take into account the huge budget that Chinese blockchain startups received last year. The volume of investments in these start-ups is 33 billion dollars, which is 8.1 times more than the previous year.

Web 3 businesses are also keen to use talented and expert people in this field. In the United Kingdom, job vacancies related to the Chinese bloc are at the top of the list. According to LinkedIn, job postings related to this industry have increased by 400% since 2020 (2009).

Rockaway also pays close attention to technology in this area. The fund’s investment manager adds:

Each of our stock companies uses these technologies. The Hacker House event, hosted by Solana, was attended by more than 30 teams and 800 developers from across Europe to present and develop their product and team.
We also welcome the upcoming conference and hackathon on the Cosmos ecosystem in Prague. Before the Crown epidemic, we shared a hackathon with Binance and Oasis Lab, which was attended by about 30 software developers.

These data reflect the high resilience of the industry and strengthen the confidence of long-term investors to invest in Web 3. Combining the economy of Web 3 ownership with the influx of technically savvy professionals and the huge budgets allocated to this area is what seems attractive to risk capitalist.

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