All the Web3 news you missed this week
Here’s the Web3 news from the past week
General
Why Venture Capitalists Won’t Be Held Accountable for Investing in FTX (Coindesk)
As impossible as it is to believe that venture capital funds did proper due diligence on mismanaged and allegedly fraudulent FTX, the inherent risk of early-stage investing makes regulatory change unlikely in the fallout.
NFTs
Amazon NFT Initiative Coming Soon: Exclusive (Blockworks)
Amazon is launching a digital assets enterprise, according to four sources familiar with the matter, who said that an NFT initiative is expected in the spring.
DAOs
To DAO or not to DAO (Influencive)
DAOs can be extremely beneficial for projects that require a lot of voting or decision making by the community, as it allows for much faster processing. Additionally, using DAOs instills a code of ethics among members, which can be extremely important in fostering trust and collaboration. However, depending on the project in question, forming a DAO may not always be necessary or cost-effective. In certain cases, having control lie with the visionaries or founders may be more suitable due to potential legal considerations and other costs involved.
What's Holding DAOs Back? (Coindesk)
Despite their potential for creating a fairer internet, DAOs can be hindered by immense coordination and regulatory costs. To make them viable, entrepreneurs are building tools to reduce these burdens while regulators address policy issues like securities laws. By lowering coordination and regulatory costs, we can help fulfill the vision of a more democratic internet through DAOs.
Metaverse
We're Already Living in the Metaverse (The Atlantic)
Our constant need for entertainment has blurred the line between fiction and reality—on television, in politics, and in our everyday lives
DeFi
Real World Assets Can Deliver DeFi’s Promise (The Defiant)
In DeFi, “real-world assets” means many things to many people. It’s a buzzword of the future, the last bastion of hope in an apocalyptic bear market, and certainly the best way to set up your VC ticket for the next cycle. RWA has become jargon that can mean everything, nothing, and whatever it needs to mean for marketing purposes. What are real-world assets really about? What really matters here? And, maybe most importantly, what does it mean for investors in the market?
Regulatory
Crypto Gets the Regulation It Deserves (Coindesk)
Crypto services may need to look more like the institutions regulators are already familiar with. Rather than saying they deserve to be part of the financial system, they’ll need to show it.
Here's why crypto markets need more regulation and supervision (World Economic Forum)
The collapse of one of the largest crypto platforms highlights risks from crypto assets that lack basic protections, says the International Monetary Fund (IMF). Strengthening financial regulation and supervision, and developing global standards, can help address these concerns. These are the IMF’s 5 recommendations for regulating the crypto ecosystem.
Off topic stories I found interesting
In case you missed it - this was the most opened article from last week’s news roundup
Adoption of DeFi, ZK Tech, NFTs and More Will Continue to Increase in 2023 (CoinDesk)
Patnera partner, Paul Veradittakit, top predictions for 2023 are:
1. Tremendous ZK adoption
2. Institutions will increasingly tokenize financial assets
3. More companies will emerge to leverage blockchain data
4. The developer tooling stack will continue to grow as blockchain engineers increasingly seek easy and efficient ways to deploy Web3 projects
5. Non-fungible tokens that provide some kind of value to their holder, such as gaming NFTs and identity NFTs, will expand
About Me
Hi, I’m Andrew Chang - I created the Web3 Roundup to share what I’m learning in this space. I’ve spent my career at the forefront of the technology industry in areas such as crypto/blockchain (Former COO @ Paxos, co-founding partner of Liberty City Ventures), video and adtech. I learn by meeting with founders, investors and other thought leaders and approach Web3 with the same enthusiasm – and skepticism – I had about crypto/blockchain technologies 10 years ago.
You can connect with me on LinkedIn
Love this wrap up! I did a recent Web3 brand entry wrap up and would love your thoughts: https://nativemarketer.substack.com/p/native-fortnightly-vital-lessons :)