Last week I had the privilege to moderate a discussion around new business models for Web3 projects in the European Blockchain convention in Barcelona.
As expected for a Venture Capitalist, I surrounded myself with experts who know much more about the matter at hand than myself, such as Anton Pastoriza, Associate Director at BCG Platinon and Alan Draguilow, Head of Product & Ops at Prosegur Crypto.
We covered quite a lot of ground in our discussion, but these are the key topics that resonated for me. It is clear by now that, Web3 is becoming a new wave of disruption, with conventional intermediaries adopting new roles. But this transition will take some time, with Web2 and Web3 coexisting for a while, just as Web2 coexisted with the early web.
There is a tendency to reproduce Web2 business models with Web3 dynamics and technology, while we discussed that new business models need to be developed, taking advantage of the unique characteristics of Web3, and moving beyond the limitations of Web2. Most of the technology is already in place and what is needed to ensure mainstream adoption is actually a change of mindset.