Giant Opportunity
“Giant Opportunity” – a cartoon that illustrates why Web3 companies need to look beyond their own market if they want to realize the true potential of their vision.
Web3 is the next evolution of the web, which is designed to provide consumers with more control of their digital life through decentralization, blockchain technologies, and token-based economics.
The journey to the sunny uplands of Web3 has been a rocky one, and while zealotry has kept the faith, the current global Web3 market according to Grand View Research was a puny $1.36 billion in 2021 (equivalent to 1 month’s sales of Apple AirPods).
The same report promises a 45% annual growth to 2033, but this market alone is hard to justify the billions of venture dollars and public coin offerings.
The only way that the Web3 market can realize its potential is by building relationships with the larger economy.
To this end, there were some recent positive announcements by blockchain leaders, such as Solana’s partnership with Google to build a smartphone and Arweave’s partnership with Meta to provide cloud storage to support Instagram.
For Web3 companies, building a business development team to work with Web 2 partners should be more important than getting a booth at the next crypto conference.
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