🌎 Engaging Use Cases Drive Web3 Adoption in the Crypto Space

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Engaging Use Cases: The Key to Web3 Adoption

High ideologies and complex narratives won’t attract the next billion users to web3. What will? Engaging use cases. The general public seeks practical solutions rather than intricate tools. With meme coins becoming a significant trend, it’s clear that simple, relatable concepts are winning. As living costs increase by over 3% annually, people are looking for new ways to achieve financial gains.

Web3 memes have become a primary gateway for retail users. Meanwhile, institutions are supporting web3 gaming and entertainment platforms. Venture capitalists invested $988 million in this sector in April 2024 alone, surpassing the total funding for Q2 2023.

The Role of Media in Web3

Media serves as a crucial link between meme coins and gaming, positioning itself as a foundational principle for designing web3 systems. It’s also a practical means to achieve user-centricity. Users clearly desire entertainment, but adapting to this entertainment-led paradigm can be challenging for web3 developers who have long focused on forcing use cases onto blockchain technology.

Disruption for its own sake often leads to instability rather than positive change. While the early days of web3 saw a push to overhaul legacy systems, it’s now more important to focus on practical improvements that meet users where they are.

Learning from Web2

Legacy systems have their issues, but poor user experience isn’t one of them. Companies like Google and Netflix have made the web highly usable. Similarly, gaming giants like Bandai Namco and Ubisoft have brought high-quality entertainment to the masses.

Instead of rejecting these successful frameworks, we can adapt them to develop engaging web3 products and services more quickly. By incorporating privacy, data ownership, and other user-centric features, we can enhance the user experience.

Collaboration is more productive than negativity. Building on existing infrastructure and knowledge can expand their scope, boosting both adoption and revenue. The success of entertainment franchises, as opposed to standalone IPs, highlights the economic benefits of this approach.

Creating Continuity in Web3

Creating new IPs for every release is economically restrictive for studios. For users, familiar IPs offer a shorter learning curve and appeal to community sentiments. Web3 can benefit from translating established IPs to its ecosystem to drive adoption and interest.

For instance, collaborations like the Meta-Stadiums and Luis Moncada project, which merges Breaking Bad with GTA V, can bring diverse gaming communities together. Leveraging popular IPs can build entertainment-led adoption engines for web3 without inheriting the problems of centralized systems.

Implementing new revenue streams and ownership models can make these IPs more attractive and immersive. Creators of new web3 IPs can use hybrid licensing frameworks to enhance autonomy and reduce costs, combining traditional methods with innovative approaches.

Bridging Web2 and Web3

Web3’s ability to support both patents and open-source models exemplifies the potential for bridging gaps rather than increasing them. Recognizing that web2 and web3 can complement each other is crucial for future development.

Upcoming generations can benefit from the best of both worlds, depending on our willingness to explore progressive paths. Let’s work towards a future that leverages the strengths of both web2 and web3 for the benefit of all.