{"id":10989,"date":"2022-05-21T12:54:42","date_gmt":"2022-05-21T12:54:42","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/web3-nfts-metaverse-the-tools-for-a-truly-decentralized-future\/"},"modified":"2022-05-21T12:54:44","modified_gmt":"2022-05-21T12:54:44","slug":"web3-nfts-metaverse-the-tools-for-a-truly-decentralized-future","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/web3-nfts-metaverse-the-tools-for-a-truly-decentralized-future\/","title":{"rendered":"Web3, NFTs, Metaverse: The tools for a truly decentralized future"},"content":{"rendered":"<p><\/p>\n<div data-v-2a0745c6=\"\">\n<p>Attendees to the BlockDown Croatia 2022 festival were witness to Cointelegraph\u2019s discussions around sociopolitics of the Web3 ecosystem, non-fungible tokens (NFT) and the Metaverse. It turns out that ongoing innovations across the crypto ecosystem are well-positioned to dictate the future of media and entertainment.<\/p>\n<p>While crypto continues to blur the lines between the virtual and physical worlds, Cointelegraph\u2019s editor-in-chief, Kristina Corn\u00e8r, agreed that \u201cIt\u2019s been a crazy year\u201d when talking about the rising impact of crypto innovations within media companies during the BlockDown festival.<\/p>\n<p>Corn\u00e8r highlighted use cases within the NFT space that gives independent artists and journalists a platform to raise funds and counter real-world challenges such as climate change. In a separate discussion with Dylan Dewdney, the founder of NFT3, a unified identity network, Corn\u00e8r raised questions related to the merging of virtual and physical worlds in the Metaverse.<\/p>\n<p>According to Dewdney, real-world problems have a good chance of seeping into the Metaverse despite the merger of the two worlds. However, he suggested developing a psuodenomous system wherein users are verified but can choose not to disclose their identities to other members of the Metaverse. <\/p>\n<p>As the world slowly shifts into its new home, the Metaverse, Dewdney believes that \u201cthe real world will become better.\u201d However, it will require the people to inculcate some of the ethos of crypto \u2014 especially in relation to equitability and personal responsibility: <\/p>\n<blockquote><p>\u201cI think its time for the world to evolve and we are starting to lay the technical foundations for a lot of that. You have to be careful about how this plays out and really take individual responsibility about spreading that message.\u201d<\/p><\/blockquote>\n<p>Showcasing an in-house attempt to create the biggest truly community-owned Web3 festival, Corn\u00e8r too revealed the relaunch of BlockShow \u2014 Cointelegraph\u2019s flagship event \u2014 as a decentralized autonomous organization (DAO) that allows attendees to own a stake in the show and participate in organizing events. According to BlockShow CEO Addy Crezee, the goal at BlockShow DAO is \u201cto bring more people to Web3 and help people feel the benefits of the ownership economy.\u201d<\/p>\n<p>Getting further into discussing the sociopolitics involved with living in the Metaverse, Dewdney told Corn\u00e8r:<\/p>\n<blockquote><p>\u201cWe\u2019re still going to have all the same problems because we\u2019re still the same old boring humans who do the same old petty things, and also great things.\u201d<\/p><\/blockquote>\n<p>If the crypto community can successfully decentralize the internet, \u201cit\u2019s a future really worth getting excited about\u201d \u2014 at an individual as well as other social levels. <\/p>\n<p>With NFT3, Dewdney aims to provide a decentralized identity service for the Metaverse ecosystem. The service can associate various information with a pseudonymous but real-life identity. On an end note, Dewdney believed that the crypto ecosystem needs to evolve beyond the financial use case into the \u201chuman use case\u201d of blockchain.<\/p>\n<p><strong>Related: <\/strong><strong><em>$3B flows to metaverse and Web3 gaming this month as a16z tips in $600M<\/em><\/strong><\/p>\n<p>Venture capital firm Andreessen Horowitz (a16z) recently launched a $600 million Games Fund One dedicated to gaming startups with a focus on Web3. The fund aims to support game studios, consumer applications and gaming infrastructure providers. <\/p>\n<p>As Cointelegraph previously reported, Metaverse projects are too attracting investments from gaming industry titans. In April, Epic Games, creator of the popular Fortnite title, raised $2 billion to create a metaverse with funding from Sony and Lego.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Attendees to the BlockDown Croatia 2022 festival were witness to Cointelegraph\u2019s discussions around sociopolitics of the Web3 ecosystem, non-fungible tokens (NFT) and the Metaverse. It turns out that ongoing innovations across the crypto ecosystem are well-positioned to dictate the future of media and entertainment. While crypto continues to blur the lines between the virtual and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-10989","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Web3, NFTs, Metaverse: The tools for a truly decentralized future | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/web3-nfts-metaverse-the-tools-for-a-truly-decentralized-future\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Web3, NFTs, Metaverse: The tools for a truly decentralized future | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"Attendees to the BlockDown Croatia 2022 festival were witness to Cointelegraph\u2019s discussions around sociopolitics of the Web3 ecosystem, non-fungible tokens (NFT) and the Metaverse. 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