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50 editions already! For 50 weeks you’ve been helping me build this space to talk about Web3 - and more.

THANK YOU!

I appreciate every one of you for investing your precious time in reading this.
I mean that.

Muito obrigado :)

LFG!

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DeFiNFTblockchainBITCOINmetaverse:
The Perception of complexity in Web3

Web3 is often perceived as a domain filled with complex, user-unfriendly concepts and technologies.

And as much as I advocated for Web3… That perception is not wrong - And this scenario makes Web3 seem intimidating and inaccessible to the average consumer.

Web3 introduces a range of new paradigms that are different from the familiar Web2 experiences. Terms like "blockchain", "NFTs", "smart contracts", and "DeFi" can be overwhelming for those not well-versed in technical jargon.
And don’t even get me started with all the complexities around managing a Web3 wallet → It requires understanding private keys, seed phrases, and various security measures, which can be a significant barrier to entry.

The transition from centralized to decentralized systems compounds this complexity. In centralized systems, third parties handle most tasks, often simplifying user interaction.
Conversely, decentralized systems place control and responsibility directly in the hands of users. This shift requires a higher level of technical understanding and personal security vigilance.

Speaking specifically of putting “responsibility directly in the hands of users”, I’ll paste something I said in our edition #20, which focused on Decentralized Finance:

“You're the bank, which is great. But you are the bank, which may be bad”.

Moreover, the user interfaces of MANY Web3 applications still lack the intuitive design seen in mature Web2 platforms.
This gap in user experience can make tasks like setting up a digital wallet, participating in DeFi, or purchasing NFTs feel just too confusing for “regular” audiences.

Despite these challenges, it's crucial to note that Web3's complexity does not render it inherently anti-consumer - Or else we wouldn’t be here, right?

Efforts are being made across the industry to develop more user-friendly solutions. Innovations in user-centric design, such as Wallet-as-a-Service (platforms that help overcome the usually complex experience around setting up a Web3 wallet) keep getting created.

In conclusion, while Web3 is indeed complex, this complexity is not here to stay - at least not in a way that it acts as a barrier.
The industry is actively working towards creating a more accessible and intuitive user experience, and as these efforts continue, we are likely to see a significant reduction in the barriers to entry, making Web3 more approachable for the average consumer.

This middle ground - where the benefits of decentralization can be enjoyed without the steep technical hurdles - is where the true potential of consumer Web3 lies.

And as you can imagine, it is also where A LOT of opportunities can be leveraged by creators, brands, and businesses.

And speaking of opportunities, it’s time to discuss some projects that rely on making things easier for consumers/users - which in any industry is not always an easy task.

You don’t have to reinvent the wheel:
OneFootball Club

A recent example of Web3’s potential to engage everyday consumers comes from OneFootball, which announced the launch of "OneFootball Club" in partnership with Animoca Brands (the folks behind The Sandbox and other projects).

This initiative, built on the Base blockchain, aims to reward fan loyalty globally through a gamified experience, which includes achievements, and exclusive benefits.

OneFootball Club leverages collectibles to create a new layer of interaction for sports fans. These digital assets can represent various forms of fan engagement, from loyalty points to items.

The collaboration between OneFootball and Animoca Brands is an interesting example of the growing trend of using Web3 technologies to enhance consumer experiences.

By providing fans with tangible rewards for their loyalty, these brands are exploring a new avenue for fan engagement in the sports industry. And partnerships like this can play a crucial role in driving mainstream adoption - after all, we are talking about a platform that is popular among fans of the world’s most popular sport.

And if “popular” sounds like an exaggeration, an alpha version was launched in February 2024 to a select group of users, and it reached over 300,000 participants.

Interestingly enough, when I was researching for this segment, I noticed that most “official sources” didn’t mention “NFTs”. It was always “collectibles”, “rewards”, or something similar.

And if you ask me, I believe it’s a super-valid approach. A few editions ago (#47), I shared this:

So as long as the users feel that their effort/time is being rewarded, they couldn’t care less about the “correct” term for that item sitting in their wallet/vault.

As easy as sending a message:
Bringing Web3 into Telegram

Originally developed by the creators of Telegram, TON is an open-source project maintained by the community. Its mission is to create a decentralized and open internet where users have control over their data and digital assets.

The integration of TON with Telegram provides users with seamless access to blockchain features without needing extensive technical knowledge. We can’t ignore the fact Telegram is an app already well-known for its consumer-friendly approach and ease of use.

For instance, users can manage their digital assets directly within the Telegram app, making transactions as simple as sending a message. This approach significantly lowers the barrier to entry, allowing everyday users to interact with things like crypto effortlessly.

TON's infrastructure is designed to be scalable, fast, and user-friendly, addressing many of the challenges that have hindered the adoption of Web3 technologies. On top of that, it offers robust security features to protect user data and assets.
TON's architecture also supports smart contracts, enabling developers to build decentralized applications (dApps) that can run directly on the network.

“Oh, but this is currently a small thing, right?”

Well, The Open Network hosts over 600 decentralized apps - and we must highlight the fact that Telegram has over 900M monthly active users.

Yes, nearly 1 BILLION users.

TON Foundation’s target is to onboard 30% of Telegram’s active users in the next 3-5 years. Let’s say they “only” fulfill a third of this target. Well, that’d still be nearly 100 million people joining the space. Not bad at all.

From TON’s website:

In summary, TON has the potential to revolutionize how users interact with Crypto/Web3 by integrating it seamlessly into a widely-used and trusted platform.

Will this become THE THING to bring millions of new users? I don’t know - but I do know that they are on the right track.

Web3 <> Web2 (or vice versa):
Doodles – From NFTs to the Doodleverse

One of the most iconic (and successful) NFT projects is taking a significant step forward with the release of the official trailer for "Dullsville and the Doodleverse" - an animated film that promises to engage a broad audience.

This project marks a move towards creating an immersive universe with interactive experiences.

"Dullsville and the Doodleverse" is directed by Burnt Toast and produced by Golden Wolf, an animation studio acquired by Doodles.
The film features voice performances by prominent artists such as Pharrell Williams, Lil Wayne, and Coi Leray, and it will be accompanied by a soundtrack released through Doodles Records, ensuring a multi-sensory experience that goes beyond the typical NFT offerings.

Set to premiere at the Toronto International Film Festival (TIFF) in September, this project aims to bridge the gap between the NFT community and mainstream audiences.

The choice of collaborating with well-known personalities and premiering at a high-profile event like TIFF underscores Doodles' commitment to reaching a wider audience. This move is expected to bring more visibility to NFTs and their potential beyond digital art collectibles.

The Doodleverse project is part of a larger initiative called Project Gray, which includes transmedia activations such as exclusive merchandise, live events, partnerships, and more. This ensures that the Doodleverse offers more than “just” an animated film, but rather an immersive and interactive environment for fans to explore and enjoy.

Back in edition #9, we talked about Pudgy Penguins’ (another famous NFT project) strategy for “Web2 audiences” - and since then, they kept improving.
Now, Doodles also exemplifies how Web3-native brands can be integrated into mainstream media, providing engaging content that appeals to a broad audience.

Below you can check the trailer I mentioned:

Buuuuuuuuut…. 😆 

When I posted about this on my LinkedIn not long ago, the comments were mixed: From “I'm all here for it. Let's gooo“ and “Awesome! Love it” to “Cool animation, but doubting this will spike interest in NFTs“.

And the truth is: there’s no way to predict whether this project will help onboard people into Web3 - and if that’s even the main goal of the Doodle team’s strategy.

Nonetheless, it’s clear they are building something that goes beyond our Web3 bubble - and that’s always something to keep an eye on.

The Wild West of Web3…
But as an app

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Closing thoughts

A few years ago - and I can’t remember if it was during a podcast or a panel - I said something that I think is worth revisiting since we are talking about “Consumer Web3”.

Back then I made a comparison between Web3 and electricity.
The thing is: I have no f*cking idea how the light turns on when I press the switch; No clue about the “magic” behind a button making a bulb work - and I believe most people reading this are on the same boat.

I said that things like Blockchain should aim for the same thing - The regular folk shouldn’t have to understand why transaction X was generated when wallet A sent a bitcoin to wallet B through the smart contract Y. They just want to see that by pressing the “confirm” button, funds were sent from A to B.

The projects we explored today are examples of how the complexities (and even the jargon - “NFTs” in the One Football case) can be left for the teams in the background, in a way that the final user doesn’t eve see/realize they are dealing with Web3.

And if you are a builder, imagine the amount of opportunities that exist for people willing to build solutions that make (Web3) things easier.

Well, imagine… and the GO BUILD!

See you soon.

#LFGrow
Diego Borgo