As the concept of Web3 gains popularity, a growing number of people have recognized the irreplaceable role of crypto technology in the future development of the Internet. Although Web3 remains in its infancy, its technical features have made it the utopia for Internet users: Web3 rebuilds Web2 with crypto technology, allowing users to take full control of their identities and data. In the Web3 world, users take the reins in their own hands, disrupting the monopoly of traditional Internet giants.
Although Web3 has been repeatedly questioned, the crypto market has seen countless new applications that focus on Web3. Moreover, the world of Web3 has attracted plenty of entrepreneurs, office workers, and speculators. Today, let’s check out what are they up to in Web3.
1. Entrepreneurs embrace Web3 to build a powerhouse of business startups
As Hong Kong releases a series of crypto-friendly signals, more and more entrepreneurs are shifting their focus to the city. Since 2022, Hong Kong has rolled out a number of crypto policies, including the Policy Statement on the Development of Virtual Assets in Hong Kong and the Conclusions on Discussion Paper on Crypto-assets and Stablecoins. Moreover, the city has also established a Web3 hub and allocated HKD 50 million to bolster the development of the Web3 ecosystem. It is therefore clear that Hong Kong is embracing Web3 and striving to become a global center of cryptocurrency.
Over the years, as the crypto market goes through its ups and downs, crypto giants like FTX and BitMEX have emerged from Hong Kong. However, for several reasons, FTX crashed to the ground, and the crypto market in Hong Kong remained dormant for a while. But since last year, the city has introduced a series of powerful policies, and its crypto-friendly government has also been promoting Web3 developments. As a result, Hong Kong has become a new cradle of an increasing number of crypto institutions, providing fertile soil for startups. Meanwhile, more and more entrepreneurs are turning their attention back to Hong Kong. For instance, Justin Sun previously announced his plans to move to Hong Kong.
2. Office workers venture into Web3 to take the reins in their hands
In Web3, the market is no longer monopolized by Internet giants but is shared by individual users who control their own crypto assets. The boom of Web3 has attracted not only entrepreneurs but also office workers to the field. As Web3 continues to evolve, many new positions have been created in the crypto industry, such as Web3 developers and engineers. Attracted by perks like telecommuting and decent salaries that come with those new Web3 positions, many office workers have forayed into Web3 to escape from conventional working environments. More importantly, unlike in Web2, which is dominated by traditional Internet giants, in the Web3 world, users are in charge, and workers work hard for the benefits of themselves, rather than centralized institutions.
It is worth noting that Web3 developers can build Web3 applications on compatible public chains with high TPS and low fees. For instance, CoinEx Smart Chain (CSC) has focused on incubating Web3 applications since 2022. Compatible with EVM, CSC uses the PoS consensus mechanism and offers high TPS and low fees. Aiming to build an enabling development environment for Web3 developers, the chain provides funding support for outstanding Web3 projects. Furthermore, CSC also hosted the MetaFi global hackathon to attract more promising Web3 projects and facilitate their development, making itself a good choice for Web3 developers.
3. Speculators invest in Web3 projects to seek high returns
Speculation has been an inherent feature of Web3 ever since its inception. For crypto speculators, Web3 might present a chance to make a fortune, helping them go from rags to riches. In Web3, most speculators are retail investors who intend to get handsome returns by investing in Web3 projects.
As we all know, GameFi projects centering on the Play to Earn model are one of the icons of Web3, and their tremendous popularity has sent Web3 to stardom in the non-crypto world, introducing Web3 to a growing number of conventional consumers and users. Additionally, a large number of GameFi projects are available on crypto trading platforms, which builds a bridge that connects ordinary individuals with the Web3 world and earns Web3 a large user base.
In the world of Web3, many speculators are gamers who hope to earn profits by buying low and selling high. As such, they don’t really care whether Web3 could realize data sovereignty and decentralization. Instead, Web3 speculators are more concerned about whether Web3 could present new market legends and help them make a fortune.
CoinEx, a global crypto exchange, has listed multiple outstanding, innovative GameFi projects to help more speculators invest in crypto with ease and seek high returns. Aiming to make crypto trading easier, the exchange follows the same doctrine with Web3, as it intends to break free from traditional financial shackles and market monopolies, build a bridge between global investors and the crypto space, and help more people enjoy the perks of crypto finance.
It is noteworthy that CoinEx has introduced the GameFi tag to help users identify premium GameFi projects. By clicking on different tags in the [Market] webpage, users can pick their favorite crypto categories and invest in cryptos for profit.
Entrepreneurs, office workers, and speculators are all key components of Web3. In the Web3 world, they are the ones who are constantly pushing for progress. In the future, Web3 will be the key to the advancement of crypto technology. We believe that Web3 will soon play a greater role in reaching out to non-crypto users. Furthermore, as Web3 infrastructures evolve, more Web3 applications will emerge, which will empower the crypto ecosystem.