Web3 for beginners - a new realm with endless possibilities

The author is an investor in technology start-ups at Samos Investments

Web3 - or the new Internet - approaches the mainstream. This new version of the website is based on the blockchain technology, which is based on the concept of decentralization and enables more transparency. Blockchain supports digital assets such as cryptocurrencies and non -fungible tokens (NFTS).

The art, fashion, play and finance world already explore the potential of this new world. From the plans of Starbucks, to bring NFTs on the market for coffee drinkers, to gain access to "experiences", to Gucci, who auctions auctioned to collect money for Unicef ​​USA.

The complexity of the space and the lack of technical know-how to create tokens were an obstacle to participation-many people simply do not know where to start. I am a late adopter, but I am fascinated and decided that I have to learn a lot more.

A friend of mine told me about a Community called Astro Girls Society who belonged to her. With a collection of 3,888 painted "Astro Girl" NFTS, it is an initiative to bring women in Web3 and is the perfect place to learn from other NFT owners. The first condition for accession was of course the purchase of an Astro Girl, which I did about the NFT marketplace OpenSea.

As a member, I have access to learning meetings. It is even more important that the artists who design the NFTs receive part of the income from their sale. But the selection of a NFT is like choosing art - you do not know whether the value is increasing, so buy something you really like that gives you access to a community that you appreciate. As soon as I found the NFT that I wanted ("Peaceful Saturn", with purple hair and with stars), I bought it with Metamask, a wallet for cryptocurrencies. I was then included in the Astro Girls Discord Canal-an online group meeting point. And so learning started.

The transition of the game world to Web3 is probably the easiest for beginners. Sandbox was founded in 2012 and is a gaming meta verse in which players can create, own and monetize their games. Sand, a utility token based on the blockchain technology called Ethereum, is used for transactions and interactions.

For those who have to deal with the concept of possession of real estate in the meta verse, Sandbox helps to put it in a context. You must own digital land to build digital assets. If you have experience with the online gaming platforms Roblox or Minecraft, it is similar as if you are responsible for creating a patch of the game that others can experience.

Web3 also changes the approach to recruitment. Techtree, a job market, has built up an online community for developers who encourages you to recommend the best developers for jobs by using "premiums" as a reward. This is a solution for everyone who is fed up with having to take commissions or recommend friends for jobs and receive no reward. The platform gives you the feeling of being in the "meta verse", and premiums can either be redeemed or passed on to a charity.

But the interface between Web3 and finance is one that can really accelerate positive changes, reduce inequalities and increase economic participation. For example in Africa "The potential and the importance of Defi [Decentralized Finance] cannot be understood," says Yele Bademosi, the co-founder of Nestcoin, a Nigerian start-up that focuses on making cryptocurrencies accessible.

People in difficult -to -reach communities have no access to bank accounts and other financial services, but bathrooms add that everyone can access stable coins and savings accounts with an internet connection and a smartphone. Stable coins are less volatile cryptocurrencies that are bound to an asset or a Fiat currency.

However, there are also disadvantages. Some blockchains use algorithms that need enormous computing power and are therefore energy -intensive. Although the blockchain is considered highly safe, it is not impenetrable. One of the top -class hacks is Ether worth more than $ 300 million, another cryptocurrency stolen from Wormhole, a bridge that makes the movement from crypto easier from one blockchain to another.

These concerns should not be taken lightly, but the opportunity to redistribute power and even expand access to financial resources and even employment opportunities is exciting.