Zug, Switzerland – The charming city of Zug, renowned as the heart of Crypto Valley, played host to the highly anticipated WEB3FEST 2024, marking the beginning of a new chapter Web3. The event, which commenced with a vibrant opening brunch, was organized by Inacta Ventures in collaboration with the main event coordinators, Crypto Valley Association, and Crypto Oasis.
Our team was privileged to be part of this great gathering, where our founder, Stefan, along with Jon and Philip, enjoyed the opening event. The atmosphere was charged with a sense of maturity and forward-thinking, a stark contrast to the exuberant hype that once characterized the crypto space. This shift towards a more measured and pragmatic approach reflects the growing understanding of Web3’s potential, balanced with the complexities of regulation and sustainable growth.
The WEB3 Landscape
Web3 represents the next generation of the internet, one that is fundamentally decentralized and powered by blockchain technology. This new paradigm offers new opportunities for businesses and users alike, enabling greater control over data ownership and fostering innovative forms of collaboration and value creation. However, as with any emerging technology, Web3 is not without its critics, who rightly point to the risks and challenges that must be navigated as this space continues to evolve.
During the event, Ralf Glabischnig of INACTA delivered a compelling presentation on the “Future of Digital Worlds and the Exchange between Zug and Various Regions and Universities.” Glabischnig emphasized the critical role of talent development in driving innovation and positioned Zug as a burgeoning counterbalance to Silicon Valley. His insights underscored the importance of cultivating a vibrant ecosystem that not only nurtures new ideas but also facilitates meaningful exchanges between key regions and academic institutions.
Spotlight on Gaming & Monetarization
A key highlight of the brunch was the presentation by Robby Yung of Animoca Brands, a company with a wide-ranging portfolio of investments but with a keen focus on the gaming sector within Web3. Animoca has made significant strides in this area, with 138 investments already under its belt. Yung shared his vision for the future of gaming and monetization, particularly through Ton, a payment system integrated with Telegram. He also highlighted the immense size and impressive conversion rates of the Telegram community, illustrating the platform’s potential as a powerhouse for gaming and digital economies.
Building Connections and Gathering Insights
The event provided not only a platform for thought-provoking presentations but also an invaluable opportunity for networking and exchanging ideas. Our team engaged in meaningful discussions, gathering insights and feedback on critical issues such as regulation and transparency in the digital world. These conversations will undoubtedly inform our strategies as we continue to navigate the complexities of the Web3 space.