Huobi Ventures Weekly Report #22
Huobi Ventures Weekly Insights
Insight provided by Ian of Huobi Ventures
What is Web 3.0 & How will it change the world in 2022
2021 was a busy year for the crypto world, with a lot of happenings in the market, fundraising and projects. One of the superhot topics was Web 3.0. But what is Web 3.0 exactly?
• Web 2.0 is certainly not the final form of the Internet. The weakness and problems exposed in Web 2.0 will be solved with decentralized technologies;
• If Web 2.0 is about “providing”, then as discussed nowadays Web 3.0 will be about “distributing”;
• While Web 2.0 brought about social networking, Web 3.0 will introduce unexpected and exciting applications and products.
The Web 2.0 wave has given birth to many great Internet companies. Those commonly known Web 2.0 giants include Google, Facebook, Twitter, etc., whose loyal users have generated most of internet traffic.
Under Metcalfe’s Law, as the number of Internet users rises, the rapid accumulation of user behavior data allows the financial valuation of business giants to reach a point where they are ‘’too big to fail’’.
As the giants continue to obtain more user data, the user tagging data will rapidly expand. With the acquired data, these giants are able to train and iterate towards more efficient algorithms in order to generate more business returns and occupy a bigger market share.
While each country has laws and regulations in place for governing these giants, what the actual source of data — those who provide the fundamental input of such a profitable cycle — the ordinary customer can get as incentives or rewards? Nothing, and instead, they become customers who pay to use the products of these giants whilst providing valuable behavioral data. Doesn’t this sound absurd? The users who offer the core value (data) of Web 2.0 are actually the consumers who pay to keep the whole Internet running.
Web 3.0 is reforming towards creating ‘user data access authorization’, ‘user identity authorization’ and a system of ‘what data can be authorized to whom’.
In the future, there might even be a feature of auction(s) where Internet companies can get access rights to user information and data. This will inevitably change the relationship between users and the Internet giants and will enable innovative SMEs to have the same access rights to user data as the giants, thus distributing part of the benefits or equity to the users who provide the data in the first place.
Conclusion: Web 3.0 will bring in a new model of asset and value distribution to the Internet.
Huobi Ventures Latest Update
Huobi Ventures announced partners with Mizar.
Portfolios Weekly Status
Acala announced the launch of $aUSD, Acala’s decentralized, multi-collateral stablecoin. Details
ALL.ART Partners With Darkblock to Bring Unlockable Content to SolSea NFT Marketplace. Details
Mesh Plus joins the Assembly ecosystem to accelerate the development of the first incentivized. Details
$ATS staking will be live on its platform this month. Details
Biconomy announced a partnership with The Sandbox. Details
XDAO was successfully deployed on Boba Network. Details
CESS started testing the decentralized cloud storage system v0.2.0 version. Details
KuCoin Presents Chingari star Contest with massive rewards worth Rs 20 Mn. Details
Connext is bringing its interoperability protocol to zkSync. Details
Terra Now LIVE On DeFi Yield. Details
ERA7 will have IFO on Pancakeswap. Details
Beta version is coming soon. Details
Immutable is taking another leap forward in the gaming & blockchain industry by partnering with GameStop to power their NFT Marketplace. Details
Introducing Lithium Finance New Roadmap. Details
Moonbeam at ETHDenver 2022. Details
About Huobi Ventures
Huobi Ventures is focused on growing its venture investment portfolio and supporting blockchain projects through long-term investment strategies.Huobi Ventures aims to identify strategic opportunities across different blockchain verticals to complement and expand Huobi’s product offerings. Acquisitions will be integrated into Huobi’s growing suite of blockchain-enabled applications and services to expand the business into new markets.