web3 Wins - 20 October

Jeremiah Krage

This week’s WEB3 WINS! 🥳

Web3 is more than just jpegs! Here’s the latest on the big movements happening behind the scenes. 👇

🌐 A truly open metaverse gets 1 step closer! Neal Stephenson, author of ‘Snowcrash’ and ‘inventor of the metaverse’ launches a blockchain.

✨ His company, Lamina1, has been building the infrastructure for an ‘open’ metaverse
✨ The L1 will be on Avalanche & will provide the infrastructure for a creator-first platform
✨ their mission: “the metaverse must not be controlled by mega-platforms or corporations — it will be owned by its citizens — builders, creators, and consumers who deserve ownership, autonomy, and privacy online” 🎊

🇦🇪 Web3 in the UAE! Ras Al Khaimah (RAK), an emirate, has created a free zone for digital assets, Web3 and AI.

🐪 It will be called a DAO, but with a different meaning: Digital Assets Oasis
🐪 Entrepreneurs will have 100% ownership of their businesses and have their own tax schemes and regulatory frameworks
🐪 This is the latest in a series of Web3-friendly zones in the UAE

⛹️ B-ball goes virtual! NBA team Charlotte Hornets launch a virtual fan store (an NBA first!)

🏀 Fans can shop for merch in a virtual fan shop, a digital twin of the IRL version
🏀 The immersive shopping experience includes making your own virtual avatar
🏀 The experience was created by conversational AI company MeetKai

👉 Why this matters: The economic potential of Web3 is vast, and commercially savvy enterprises such as the NBA have taken note. So too have entire governments – the UAE is looking to Web3 & AI to diversify revenue beyond tourism. And Lamina1 are just rockstars building the closest thing yet to the Ready Player Me metaverse. 🤟