The approaching era of Web3 adoption is comparable to previous technological revolutions in that it marks the beginning of a significant infrastructure inversion for many of our digital and physical systems.
But I don't see Web3 as simply a new set of technologies. It is a new paradigm where individuals and businesses interact through a web that respects their freedoms and choices, empowering them to manage their own lives.
For the first time since the information revolution, we will witness a tipping point where decentralized technology and governance models outpace traditional centralized ones. This is not just an opportunity for technological innovation but also a chance to transform institutions and societies at large.
Web3 infrastructure will fundamentally change every business' processes. These changes are expected to create tremendous opportunities in leading marketplaces, which will be exploited to develop precious advantages. Although these opportunities look lucrative, there is also steep competition due to many players who are keen on taking their part of the pie.
We cannot expect this transition to happen without some pain and disruption. We should anticipate corollary impacts, including:
The loss of well-paying jobs in many sectors of the economy, especially finance.
Privacy and security concerns. In fact, some centralized institutions will likely use their privileged position to try to undermine this competition by violating individuals' privacy or even their physical security.
Corporate consolidation as big companies grow more prominent, and small ones are unable to keep up.
The Web3 movement is about much more than just technology. The technical innovation itself will be the easy part compared to social and political challenges.
I believe the Ethereum community should actively find solutions for these problems and explore new opportunities in verticals where active participation can bring value.
But the blockage will be a human bottleneck. Web3 and metaverse technologies can only grow to a certain degree without increased access to new users across a broader range of demographics.
We should aim to empower the individual and local communities, not just develop solutions to scale existing limitations.
We need more entrepreneurs building on top of Ethereum and more developers contributing to core protocols and infrastructure projects such as PoS, Sharding, Swarm, Whisper, etc...
Web3 infrastructures are expected to be game-changing technologies that will open new possibilities, but their starting point is knowledge. Widespread access requires additional work to bring userbases up to speed with on-chain tech. That means only one thing...
The right companies to invest in are the onboarders.
These companies and organizations are the ones who are willing to help new users with zero exposure to Web3 to learn and adopt new decentralized technologies, as well as build the necessary connections with other market participants.
They are also the ones providing onboarding-related services to institutions and businesses willing to adopt decentralized technologies.
They will need to know how to create effective governance models for their markets and segments. They will need proper incentivization mechanisms to effectively engage network participants and align incentives towards creating value for all.
In this context, the most influential companies will be the ones who invest in bridging the knowledge gap and bringing more non-tech literate users into the space through content, education, interactive engagement, and clear messaging around simple value propositions.
This is where we, as investors in Ethereum communities, can bring value and help shape this new paradigm by focusing on companies involved in building education and engagement infrastructures.
Investment should provide the necessary tools and resources for onboarders to create successful projects, to enable them to increase their success ratio and speed by leveraging knowledge from other players in the space.
It is time for the Ethereum community to understand the importance of onboarding and bring more projects to fruition.
NFTs provide a clear value proposition and foundation for educational onboarding
NFTs can help onboard a multitude of users in a short amount of time, and their success will bring back value to the ecosystem by creating more Ethereum adoptees.
Companies building on top of NFTs have the opportunity to leverage this knowledge and attract new users thanks to greater exposure thanks to both their own projects and the NFT ecosystem as a whole.
Companies that provide an engaging experience to attract new adopters, which quickly show them how they can benefit from using Ethereum in general, will be unique to unlock adoption and widen the market for DeFi and Web3 startups.
Opportunities for decentralized projects building on top of the NFT market to bring value to Ethereum and other blockchain networks by increasing awareness and attracting new users are infinite.
The time has come to embrace the mainstream and unlock the next wave of mainstream adoption by putting education first, which means understanding the importance of onboarding.
Empowerment of individuals and local communities will help decentralization spread beyond its current boundaries, creating more value for Ethereum and Web3 ecosystem participants. Building out robust knowledge-sharing infrastructures is a crucial step towards this direction.