#61 - Big names making moves (Meta, Visa, and Škoda)

The Wild West of Web3 by BorgoAcademy

GM 🤙 

In today's edition, we’re diving into some exciting (recently launched) products/ideas that demonstrate how our space is evolving fast.

From a financial giant tokenizing assets on the blockchain to augmented reality glasses making the virtual world feel more accessible, we are witnessing an interesting moment for innovations.

But while it’s cool to talk about blockchains, immersive experiences, cryptocurrencies, etc., we’ll also dedicate some space to cover a simple yet interesting use of Web3 - one the most companies/projects, despite its size (or pocket) can explore.

LFG

Visa’s blockchain move:
Tokenizing the future of payments

Sauce: VisaNews’s X

Announced recently, Visa Tokenized Asset Platform (VTAP) is a blockchain-based tokenization solution designed to allow financial institutions to tokenize fiat currencies on blockchain networks.

But more than “just” being about digital payments, this also opens doors to a whole new way of managing and transferring value in a secure, programmable way.

It’s not the first time we mention Visa in the Wild West of Web3. In fact, back in February, we published a whole edition about the company’s Web3 Loyalty Engagement.

Now, what’s exciting about VTAP is the infrastructure it provides → Financial institutions can mint, burn, and transfer fiat-backed tokens, all through a single API-based integration. This kind of programmability brings a lot of convenience, which is great in a space already full of complexities.

Think about programmable money - tokens that can have permissions baked into them, dictating who can use them and under what conditions. Whether it’s automating workflows or creating new, custom digital assets, VTAP has the potential to reshape how we think about transactions in the digital world.

Visa’s platform also addresses one of the major concerns institutions have with blockchain technology: security and compliance. VTAP operates on a permissioned, EVM-compatible blockchain, giving institutions the ability to safely test their use cases within a secure, sandbox environment. This allows clients to experiment with blockchain solutions without having to fully commit their resources or take on unnecessary risks from the get-go.

At the end of the day, VTAP is a robust, highly programmable infrastructure that can power the next generation of digital payment solutions. For those who’ve been following Visa’s moves in crypto and blockchain over the past few years, this platform is a clear indicator of where things are headed. It’s not just about experimenting anymore, but this may be the boost for a (more) tokenized future for mainstream finance.

We're excited to leverage our experience with tokenization to help banks integrate blockchain technologies into their operations

Vanessa Colella - Visa’s Global Head of Innovation and Digital Partnerships

And while we can discuss the whole thing about having “centralized powers” or “funds controlled/minted by big companies” we can’t deny it’s a very interesting move for anyone following the space.

Orion:
Meta’s move into augmented reality

Sauce: Meta’s website

Back in #22, we had a whole edition focused on exploring “Spatial Computing”. In that conversation, the conversation was around Apple’s Vision Pro.

Nearly 9 months later, here we are with a different player joining the discussion.

But a bit of context first: Meta has never been shy about its ambitions for the future of augmented reality, and with Orion, they seem to planning to take things to a new level. Five years in the making, Orion represents Meta’s most advanced AR glasses to date, offering a glimpse into how we’ll (seamlessly hopefully) integrate the digital and physical worlds.

Based on the content already released, it seems that the potential of Orion lies in its ability to deliver immersive, hands-free experiences that go beyond the limitations of a smartphone screen. With large holographic displays, users can interact with 2D and 3D content in real time, placing digital elements anywhere in their physical environment.

But the true game-changer is Orion’s contextual AI. This feature allows the glasses to “understand” your surroundings and respond proactively. Picture this: you open your fridge, and the glasses suggest a recipe based on what’s inside. Or, in the company’s own words:

(…) seamlessly integrate contextual AI that can sense and understand the world around you in order to anticipate and proactively address your needs.

One of my favorite aspects in comparison with previous AR attempts is its seamless integration into daily life (and here I’m specifically talking about the “fashion” aspect). Unlike bulky headsets, these glasses are lightweight, and built for all-day wear. You can see others' eyes and expressions while still engaging with your digital environment, making it ideal for both social and professional use.
In my opinion, Orion’s combination of functionality and comfort is what may give it real staying power.

It’s not hitting the shelves just yet, and although we can not confirm when (if?) this will happen, it helps bring eyes and brains to the “immersive experiences” discussion, which can certainly help the industry move forward.

But I really want to hear from you: do you think this kind of device (be it a pair of glasses, a headset, whatever) will ever become popular?

So, will AR devices hit mainstream someday?

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Škoda + POAP:
Simple & Clever

Škoda has recently launched the new Elroq model, but as you can imagine, we’re not going to talk about the car itself.

The company has long been known for pushing the boundaries in automotive design - and they have also been for a while in the Web3 space (they were featured in edition #14).

For this specific launch, among other more “traditional” initiatives, they have leveraged NFTs/Web3 in a super simple, yet clever way → They’ve distributed 200 NFTs as proof of attendance (POAP) to the livestream audience of the world premiere.

So basically, all these spectators awarded with a POAP have verifiable proof that they have attended that specific event by Škoda. It may end up being “just” a collectible - which is already a great use, or the company can decide to create experiences, gifts, or any other action directed to these people.

Even though this use case may sound super simple (and it is), it’s a great example of what we discussed last week: “Web3 doesn't have to be complicated”. The company can keep exploring Web3 solutions as part of more traditional strategies.

How would you rate this edition of The Wild West of Web3?

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See you soon.

#LFGrow
Diego Borgo