Problems in the Web3 Space

Despite the scale of involved funds, the current web3 market is still in an early stage that is largely unstable. The following are some of the issues that drew our team’s attention.

• Exclusivity of web3 services

  • Theoretically, the digital assets provided by blockchain-based platforms are owned by the users of those platforms, not the platforms themselves. However, many current web3 services focus on providing merchandise that only has recognizable value within their platforms. When these projects disappear as they often do in this space, the merchandise loses its value along with them.

• Lack of involvement of web2 services

  • As much as the web3 market is expanding, the vast majority of the time and money we spend is still within the web2 space. As such, bridging the gap between these spaces is crucial to the development of web3 services. However, there have only been a handful of well-executed attempts at this task.

• Limitations of X2E

  • X2E games have made tremendous growth based on blockchain technology. However, most of these games involve a Ponzi-like structure where tokens maintain their value mainly through the addition of new users. Such approaches are problematic in that the entire project can collapse the moment when supply surpasses demand.

The resulting damages often end up in the hands of the users of the web3 services. We designed our business model with our best efforts to address these issues.