Web3 predictions for 2023 from the Web3 Academy team

Transcript

GM GM welcome back to another episode of web3 Academy today we're looking forward we're looking at the future we are looking to 2023 here's what we've done we've had the whole team over here at web3 Academy myself Jaybird Kyle miles Raul and T Yao pulled together our top predictions for 2023 what are our predictions are we bullish are we bearish ooh baby you're gonna have to listen to find out now let's start with 2022 brought us a bunch of events that no one could have predicted uh duquan's ego led to Tara Luna's demise the potential death of

royalties as a business model I mean that's still ongoing we'll see if people are predicting about royalties for 2023 Sam Baker and Freed's downfall from crypto I mean geez what a what an awful story that is and just a yeah a black shadow over the entire crypto world that we will all be glad to move Beyond in 2023 I personally can't wait to no longer discuss it Reddit onboarding the most web3 users to date and 3ac capital betting the farm on volatile assets and just getting wrecked I mean 2022 what a year it was I think a year of massive highs and massive lows so we can all

look forward to hopefully a more smoothier in 2023 and while no one can predict what will happen I mean especially in this crazy space we wanted to share what each member of our team thinks might happen and you might be surprised if some of these things are things that you've thought of already or maybe they're things that might perk your ears and get you thinking about what we can be building in the future you know the thing is us our team here at Webster Academy we started the markets we study this business we study the trends every day we're on top of the news so we can provide you with the most relevant information as possible and

that really allows us to sort of look through the looking glass with an expertise that I think you will find useful and that's our focus is to guide you through this journey into this wonderful Rocky turbulent world of web 3 and make sure that you do so with some confidence and with some knowledge as you go so let's start off our predictions but before we do we're just going to take a minute to hear from our sponsor the future of social media is here and that future lives in web 3 on top of lens protocol web 2 social platforms are broken and right for disruption you see the epicenter of social media is the creators and yet

they are the most neglected web 2 platforms like Facebook Tick Tock and Instagram are all essentially robbing creators of their worth creators are a new type of entrepreneur forming new types of businesses yet with web 2 platforms creators don't own their content to their profiles and that's their product in business instead they are tied to the platforms they choose to create on well just like how crypto is freeing us from Banks web3 is freeing us from these centralized platforms on lens protocol creators own their content own their profile and even their social graphing followers in the form of nfts this allows you to move freely from one social application to another with your content profile and followers moving along with you lens protocol enable self-sovereignty for your social graph

and interoperability across the internet at Webster Academy we believe this is the future of Social and that's why we've partnered with lens to ensure that the path of social media is heading in the right direction visit lens.xyz to learn more today unlock protocol is the nft membership protocol for web 3. content subscriptions Community Access event tickets are all forms of memberships one of the most common business models for creators and entrepreneurs today building an nft membership opens many new possibilities for your members everything from tailored multi-platform experiences to the ability to sell an unfinished subscription on secondary

markets these are things just not possible in web 2. however in order for this business model to work creators need nfts which are time bound or have built-in recurring payments unlock protocol does this for your nfts better yet with a few simple steps you can create your own nft contract without code what WordPress has done for websites unlock protocol is doing for membership nfts if you're an nft Creator you can't rely on royalties as they are likely going to zero you need recurring Revenue you need unlock at web3 Academy We Believe nft memberships are the

future of business and community and that's why we decided to build on unlock learn more at unlock dashprotocol.com welcome back okay first up I've got Kyle reedhead my co-host founder of web3 academy and our very own web3 celebrity here's his predictions number one nft utility is greater than speculation nft dollar denominated trading volume doesn't reach 50 of its all-time high from the bull market however Kyle believes the number of nfts minted slash transacted skyrockets to all-time highs and Beyond number two the U.S approves

regulation for stable coins the USA does this because it allows the US dollar to be used on global crypto rails enabling it to more easily flow and be used around the world he also believes no other crypto slash Webster regulation is approved in 2023. that's a big a big big prediction for crypto regulation on stable coins number three Reddit on board's 50 million people into web3 whoa they have already onboarded four million actually they've onboarded five million now it's amazing how fast this number is going up it's gone up in a week since we last wrote this so when they launched Community tokens and more nft avatars

and related Collectibles Kyle thinks that Reddit users will flood into the space a little Alpha there on their Community tokens launch is that coming in 2023 I think so number four the biggest brands go web3 Amazon launches an nft marketplace with an Amazon native wallet and apple launches a crypto wallet inside of the Apple wallet which Kyle hopes are both non-custodial wallets those would be huge things to happen next year IRL adoption a small country adopts blockchain Tech likely with zero knowledge proofs for some form of identity slash voting purposes with their citizens if Kyle were a betting man he'd say it happens on polygon

oh Baby that would be a that would be a really exciting one I'm not so sure that's going to happen in 2023 I would predict that's further out but my brother Cal he's on that one okay number number six Twitter moves towards becoming the center of social Twitter com becomes the most influential web 2 social media platform and the best social platform create for creators to earn Revenue Kyle believes in elon's ability to build extremely effective teams and tech technology to another level this has nothing to do with web3 but it's a prediction that will impact many of us on crypto Twitter number seven finally some good games a triple a web 3 game Launches on

immutable or polygon and onboards 10 million new wallets Kyle doesn't think this would be a play to earn incentive scenario like Axion 2021 but instead just a really good game that may include some tokenomics to earn I mean it's amazing we just heard already this past week that the first AAA game launched on alluvium Overworld and it's only embeda to about 30 000 people but I think Kyle's on to want something with that prediction okay next up lens protocol surpasses one million active users they're currently in close beta but Kyle's assumption is they will launch publicly in 2033 and most web3 natives flock to the platform

in his final prediction web3 Academy dropped some Alpha what theory Academy Pro becomes the number one trusted source to understand which web3 businesses business models and Concepts will win this is going to be the most valuable newsletter product in web 3 if you know you know PS the first 100 people to sign up to Pro will receive 33 off for life so don't wait okay next up my predictions number one zero knowledge proofs will be the breakout web 3 Tech of 2023. ZK

proofs enable one party to prove to another party that a statement is true without conveying additional information the use cases for this are extensive as we aim to ensure privacy while we move our identity and financial assets onto public blockchains right now star Square ZK sync Aztec espresso immutable X polygons ZK evm and alio are either live on mainnet or in various stages of testnet so we are ready for the ZK proof race that's going to come in 2023 as it is going to be an absolute breakout technology okay next prediction everyone will have a web3 domain name for their wallet ens is almost at 3 million

registrations Nike dot swoosh is in beta Unstoppable domains has millions of registrations and God knows no one is going to remember your 64 character eth wallet address next prediction Starbucks Odyssey will onboard 5 million new wallets with over 25 million users globally on the Starbucks app and their new nft loyalty program rolling out in beta right now they're going to be a lot of Happy Coffee drinkers buying trading and selling their digital stamps to get a trip to a coffee plantation in Costa Rica next year number four prediction blockchain gaming will finally arrive in onboard tens of millions much like Kyle I believe the same after years of

development many AAA games will hit the market in 2023 and drive mainstream adoption driven mostly by the free to own model which will put free nfts in the hands of gamers in the form of in-game items 2023 will be the year in which blockchain games finally break through okay next prediction education will be the second largest industry after gaming to onboard Millions to web3 this one may seem like a surprise because education isn't exactly known as the fastest moving industry but let's remember that in the internet was initially adopted by universities and colleges as a means of sharing information now education is ready to bring credentials on chain in 2022 we saw a state in India issue 100

000 verifiable diplomas on chain in 2023 this number will grow to Millions next prediction regulation is coming and it's a good thing I honestly have no idea when regulation will come so this prediction is more of a manifestation because I strongly believe that we need regulation too many Enterprises are waiting on the sidelines because Regulators are dragging their feet and acting reactively rather than proactively well regulation can strangle Innovation it can also be an accelerator as it opens the doors for so many to join the party next prediction the best ux will be on wallet Hardware we say it all the time the ux web 3 sucks you're

blind signing these ridiculous requests of metamask without fully understanding what's happening and just hoping and praying that your assets don't vanish Into Thin Air wallet Hardware has the ability to change that as they integrate end-to-end solutions for managing your crypto assets this prediction might be more than a year away but the new Ledger Stacks got me stoked just imagine dafs becoming available in your Hardware wallet next prediction large corporations will start EXP fermenting with dows dows enable human coordination on a scale we've never seen before imagine a large corporation launching an internal dial where all their employees get to govern and manage their charitable Endeavors we saw consensus do

this in 2022 or imagine a large corporation launching a doubt of its users or fans focused on improving a particular product or providing best or better customer support the possibilities are endless when you have an Engaged audience and a clear purpose next prediction one million marketplaces as the royalty debate rages on it's clear to me that the question is not whether or not we'll have royalties the question is where people will purchase digital assets just like for physical assets we have millions of IRL and URL retailers with some selling a specific niche of products and others like Amazon selling everything the same will be true

for digital assets and in 2020 three we are going to see thousands tens of thousands hundreds of thousands more marketplaces appear for you to buy your nfts and digital assets one three social goes exponential and Elon shocks us all we've all been talking a lot about web3 social but the numbers show that adoption is still quite small that will all change in 2023 as hundreds of web3 social apps go to market and a few reach Mass adoption I have no idea what Elon will do but how could I have a 2023 prediction that didn't include him doing something crazy some final quick thoughts governments will sadly lag

behind despite the massive potential for improving voting wallet to wallet messaging will finally arrive in 2023 Market volatility will remain a constant through the year requiring web 3 companies to learn to navigate asset price uncertainty while they're building developers will flock to layer 2 blockchains as they offer decentralized security fast transaction and the lowest fees and music will continue its consistent growth into web 3 but Mass adoption won't happen for another year all right Raul web3 Academy's social poster let me hit you with his predictions first up exponentially more web 2 Executives will join web 3 companies we

already have seen Andrew Saunders opt who opted for off-chain labs which is arbitrum after working for Amazon more recently we've seen Keith Grossman move from time over to moonpay and Raul expects this to continue once these people understand the power and potential of web3 they'll be Keen to be part of the group that's already building I think the other thing that we're seeing just add my two cents here is a real move towards the ethos of web 3 which is decentralization I think a lot of these web 2 Executives have been working on these massive centralized companies for years and they want something better for Humanity thus they're moving over to

web3 okay Raul's second prediction on chain nfts more nft collections will move toward having more of their metadata on chain whether that's a move over to ipfs or other Alternatives remains to be seen but one thing is for sure this is a problem that needs to be fixed right now collection owners have the ability to change the metadata of the nfts they've created and I think 2023 will be the year that a solution is found third prediction 2023 equals the year of crypto Hardware most crypto slash 130 Hardware will be built announced and released in the coming years in the coming year examples are so on a phone and Ledger Stacks which are The Ledger sax is already available for

pre-order I know I've pre-ordered mine have you let us know next prediction the death of nfts as we know it oh people will stop trading nfts and most collections will die because they were built with empty promises meanwhile nfts will be heavily used in protocols such as lens or to tokengate access to communities products Etc a very similar prediction to Kyle's Raul believes that we're going to see nft speculation flood out of the market and nfts will more so be used we'll see an increase in the transactions of nfts and in the ownership of nfts but they'll be used more for token getting and

Community Access than they will for speculation I think the truth is probably somewhere in the middle I think that there is still going to continue to be an nft trading Community because let's be honest when there's money to be made people want to trade and make that moolah next prediction each Supremacy a couple of layer 1 blockchains will merge to become layer twos on ethereum likewise there won't be any new layer 1 blockchains that get significant attention very interesting we've already heard about polygon possibly merging as a layer 2 on ethereum we'll see if that comes in 2023.

Raul's next prediction layer threes we will be introduced to layer 3 scaling or maybe there will be another name for that AKA a way for users to use blockchains without signing transactions or paying gas fees next prediction D5 protocols will continue performing the majority of D Prime protocols functioned as they should have in 2022 I think this trend will continue forcing recognition from trade fired mainstream users I.E speculators and investors towards D5 let's be honest here all of the issues in crypto in 2022 were from centralized exchanges not decentralized exchanges FTX centralized exchange let's all

remember that that's what happened there next prediction from Raul the death of dows the idea of dows as we know them will be abandoned as people realize that building a company with inexperienced internet strangers is extremely difficult however Dallas may be useful when used alongside companies rather than being the company itself wow strong prediction from Raul not sure I fully agree with that one but we'll see bear Market Blues the bear Market will last throughout 2023 but the level of adoption and number of people interacting with crypto and web3 will be unexpectedly High and then next prediction number doesn't always go up people will wake up to the

fact that most tokens have awful tokenomics and investing in a token doesn't necessarily give you exposure to the growth of the project all right that's it for Raul's prediction next up we've got miles who is web3 Academy's content researcher all right first prediction for Miles the bear Market continues 2023 will be another builder-centric year because of the ongoing uncertainty around Global markets and a potential recession keep building learning and staying up to date with web3 so you can reap the rewards when the global situation turns around second prediction nft Tech is just getting started miles thinks that 2023 will have a renewed focus on nft

technology rather than speculation because of its numerous use cases we're only just beginning to scratch the surface of dynamic nfts rental nfts pbts nfts membership and much much more these token standards can revolutionalize Commerce and Break Down The Walls between the digital and physical worlds third prediction AAA gaming time web 3 gaming will be massive right now devs are still figuring out the best ways to incorporate web3 into traditional games some are slowly integrating web 3 While others are building their games natively miles is not sure which strategy is better but he thinks that 2023 will be the year of high quality crypto crypto

gaming #sorry axi next prediction Starbucks becomes the web3 darling Starbucks and it's on chain loyalty program will onboard the most people into web 3. whether users know it or not this might be a trojan horse I I agree with that one active Starbucks rewards memberships increased to over 27 million with the app recently growing by three million new members equating to 13 year-over-year growth wow talk about growth in the Starbucks app this thing is huge and that's Global too I think we're gonna see I'm just so fired up with a Starbucks program on chain royalties are back between Open Seas operator filter registry and new token standards being built miles

believes that royalties will again be guaranteed for creators but that doesn't mean it should be your main source of Revenue grade point miles Tech evangelism dies right now many people are DieHard fans of certain protocols token standards and foundational Technologies it's kind of like being a fan of Internet protocols it's a bit funny but as the Innovations continue in the space grows Moz believes that people will see that there are many different ways to achieve the same outcome regulation is coming 2021 and 2022 seem to have been the years of observation and planning but since the space is undeniably here to stay and we've had some serious recent implosions miles believes that regulation from at

least a few major countries will come in 2023 and I agree polygon becomes the sixth largest cryptocurrency by market cap there are so many things happening on polygon from Big Brands dropping nft collections to countries putting credentials and documents on the blockchain and next I retire our return releases their anticipated native token and I retire thanks to my d-gen activities that's not me retiring that's miles retiring thanks to his DJing activities which is going to get him a whole bunch of arbitrary tokens and last up we've got Tyler Webb threes Academy's a video editor and branding extraordinaire here's his predictions coming at you

first decentralized social media is a household term Twitter goes web3 and throws censorship and Bots to the curb it's parking conversation and awareness around web 3 native social protocols like lens and orb all the monkeys die more of a hope than a prediction but all these expensive monkey nfts and any other useless pfp get forgotten in 2023 and the era of utility focused digital Collectibles begins decentralized gaming makes no moves ooh at one point I got so caught up in the hype of all these games like XC Infinity star Atlas eluvium Etc and well Tyler still thinks that some will be hella dope they're so far from creating a

triple A decentralized and interoperable experience now it takes a hit AI is all anyone is talking about right now but just like how C5 made 90 of the world hate crypto in 2022 Tyler thinks that some government or company takes advantage of the technology and causes short-term loss of faith in AI with the general public with a strong prediction from Tyler I like that one web3 Academy wins a podcast award I like this prediction Tower doesn't know if there's a podcast award or not but picture this it's November 2023 and web3 Academy wins the award for the best produced podcast unfortunately Tyler's not able to make it to accept the award

though because he's surfing a private wave somewhere in the Maldives life is good what up T y'all I hope you can get us that award and if you do you can definitely take off some time to go surfing The Melodies my man what are your predictions for 2023 we would love to hear them well our goal here went through Academy is to serve you the latest lessons news transit everything happening in the space the best thing that we can do is learn together we'd love to hear what you think will happen this year so make sure you log on to our newsletter at W3 academy.io and drop some comments

subscribe to our newsletter if you're not already subscribed so you make sure you're getting it in your inbox because that's what's going to keep you up to date in 2023 and make sure that you are ahead of the curve but I'll tell you what if you're still listening to this show right now you're definitely ahead of the curve because you're staying in the space during the darkest times during the hardest times and this is when the big stuff happens is when the opportunity happens so give yourself a pat on the back hey you survived through 2022 we made it another year in the space wow what a year it's been thanks so much to all of you for all your support enjoy some time off over the holidays enjoy some time with your family give your loved ones a hug celebrate the end of this great year and

celebrate the start of the next year with those that you love the most I love you guys I appreciate you so much for listening in have yourself a happy New Year we'll see you in 2023. thank you for listening to web3 Academy we hope this helps you along your web 3 journey and if it does please share this episode And subscribe so you don't miss the next one nothing in this podcast was Financial advice crypto and web 3 can be risky you can literally lose it all in fact if you invest on account of what we say you probably will lose it all so don't do that in all honesty the point of this podcast is to remove the noise of markets and price and focus on utility and implementation anyway so you should not take any of this as Financial

advice thank you friends and see you the next one