Such actors often focus on product revenue optimization, neglecting transparency and open-source pillars of the Web3 narrative,” Aleksandra Nik and Polina Vertex, co-founders of Web3 consulting agency Syntagma Labs, tells The Recursive. “It has underlined a still unresolved issue of the prevalence of semi-centralized agents in the industry. And the current dynamic became even more complicated with the collapses of big industry players that were plugged deep into the key infrastructure projects.
The current Web3 cycle might be longer than previous ones not only because of internal factors but also due to the overall state of the global economy, experts argue. We also expect to see other Web3 trends such as regenerative finance take off. While 2022 has brought many challenges particularly for blockchain and crypto-related projects, whose technology is also intertwined with Web3, the next year could be crucial for the practical implementation of many of these concepts.
With a market size expected to reach $81 billion by 2030, the future of the Web3 industry looks to be bright as many companies and startups worldwide are working to introduce new products and solutions in the following period.
