Web3 and its Launch; Raising Queries Among Public

If you follow blockchain-related news and articles, you must be very well aware of the fact that the startup funding of blockchain fell by 74% in the previous year. But still, the launch of Web3 and Metaverse projects by certain companies is raising questions about Web3’s current performance and the future it will bring for us. The names associated with the recent launch of blockchains are Starbucks, MasterCard, and Nike.

This step of revitalizing Web3 was taken by such mega-companies and has benefitted the industry as a whole by providing an undeniable cachet to it. Since, blockchain-based development is often regarded as a marketing ploy, the launch of Web3 has shown that it can work well without immense fanfare by just prioritizing the significant user benefits at the upfront product launch.

The approval of companies outside the network of blockchain and the names associated with the tech world can also provide a better understanding of which Web3 cases are viable. We have not seen any backlash on Starbucks by the public for transitioning its already successful reward programs to an NFT-based network. It is basically the same technology, but with an improved layout that allows the users to utilize it efficiently without getting distracted from the main point.