What happened to Metas' Metaverse? 😲

🎣 w3.catch-of-the-week cw11

AuthorAuthor

Vicktoria Klich & Quinn Wilhelm
March 15, 2024

GMGM and welcome to the 🎣w3.catch-of-the-week, where we deliver all the Alpha you need to preach Web3 Use Cases like Elon Musk is preaching Doge.

Yes we are back…

Apparently, dog memes will remain a thing 🤞:

Another indication of the recurring interest from celebrities is that Drake shared an interview by Michael Saylor about Bitcoin with his 146 million followers.

Done with market talks. There was another important upgrade (Dencun) that should significantly improve the experience of interacting with the Ethereum network:

💌 Your Invitation to meet the w3.hub fam
🤔 Is Meta still working on the Metaverse?
🤑 How we survived the Bear-Market
🔧 Your Token-Engineering Playbook
🪙 Get to know a Tokenization Expert?
🥳 Birthday Party @w3.hub

With all eyes back on Web3, the demand for new use cases, and all the money inflows, I see one crucial part missing: physical interaction and exchange.

Despite taking you on the journey of our Web3 co-working space from the beginning and regularly sharing updates, experiencing it firsthand is irreplaceable.

This is why I warmly invite you to our Open House Day next Wednesday.

Here's what to expect:

💪 9:30 AM: Open Doors - Arrive early to start the day together.

🥳 10AM: Tour & History of w3.hub - Explore our space and meet us for a community brunch.

🥐 10:30-11:30 AM: Community Brunch - Connect with the w3.hub family.

👩🏽‍💻 11:30AM: More Co-Working - Dive back into work with new friends.

📚 4PM: Member Insights - TBA.

💙 Add-On: Solana Build Station Visit - Take a peek at the global hackathon happening on the 3rd floor starting March 19th.

Has Meta thrown its Metaverse plans overboard? 🫢

Meta, or formerly Facebook, has made the Metaverse a huge topic in 2021 - but what has happened to their plans? 🧐

As they put it in their own words: “While the hype cycle has moved on from the metaverse to AI, we remain committed to both.”

Okay, but what are the latest developments?

Meta has made significant strides in the metaverse, focusing on expanding virtual and mixed reality applications. Here are some of their recent efforts:

  • The Meta Quest app was the top download in the App Store on Christmas Day 👉 Use Cases for your Meta Quest

  • Reality Labs, Meta's VR division, surpassed $1 billion USD in revenue

  • Meta introduced "Caddy," a new tool that allows for collaborative work on CAD models in the metaverse, aiming to make 3D design more accessible to a broader audience.

CAD models are digital 3D designs created using Computer-Aided Design (CAD) software. These models are used in various fields, such as engineering, architecture, and product design, to visualize and test ideas before manufacturing.

Meta leverages their immersive technologies for training in trades, healthcare, and sports. They help people learn new skills, like welding, provide surgeons with practice for surgeries, and support athletes in staying fit during recovery.

→ In one sentence: The Metaverse makes learning and training more interactive and effective.

How we raised over 10 million Euros as a first-time Web3 fund 💰

The bear market had made it nearly impossible to raise capital for a first-time Web3 fund. Yet, here we are, having completed our second closing.

💙 Since day one, community and education have always been at the forefront.

As a result, we've achieved:

👉🏽 Numerous events over two years (w3pizza + partner events) around the world.

👉🏽 w3.vision x DMEXCO in Cologne (twice!), where we brought brands and corporates together with the Web3 scene.

👉🏽 The transformation of a heritage industrial jewel into a Berlin hotspot for the Web3 community (Sidefact: In the current w3hub, where we work on the future of the web today, locomotives were designed in the past. Another kind of evolution, right?). You can take a look during next weeks Open House Day.

👉🏽 Numerous keynotes, panels, and podcast appearances.

👉🏽 Weekly updates in our Web3 Industry Newsletter.

👉🏽 Nearly 100 episodes of our own podcast with Marvin, where we share our experiences in this exciting bubble.

🎢 Despite the wild roller coaster ride in the crypto market, our thesis has remained the same:

“We're backing ideas that are set to change how we use the web.”

🎡 Thanks to our flywheel model, consisting of “Fund, Media House, & Community Space”, along with a positive market sentiment, we have several other exciting projects in our pipeline.

Considering launching a token? Then this is for you 🫵

Most Web3 projects have their own token - but why and what is good token design?

Angela from Token Engineering Academy visited us at w3.hub and shared her expertise on what tokens are and what to consider if you're thinking of launching your own token.

She began her career in early-stage web 2 startups. In 2018, she discovered the potential of tokens and the design space for token-based economies.

Seizing opportunities, Angela launched the Token Engineering Academy in 2020, establishing the world's first bachelor-level token engineering program, something not available at any traditional university. Today, TE Academy boasts over 3,700 students globally. 👏

This program is available as a free public good thanks to grant awards and ecosystem sponsorships. Thanks to support from partners like Optimism, ENS DAO, 1kx and Consensys, TE Academy has created a robust global community of students and professionals passionate about token engineering!

Good Token Engineering ⚙️

Let's start with the basics and understand what defines good token engineering.

What does Token Engineering actually mean? 🤔

👉 The process of designing, verifying, and optimizing token-based systems.

What is important to take into account:

  • Legal Challenges: Ensure compliance with regulatory landscapes before launching.

  • Beyond Fundraising: Understand that raising funds is just the start; engaging and retaining users is crucial.

  • Problem-Solution Fit: Identify and address the core problem your token aims to solve.

  • Product-Market Fit: Ensure your token meets market demands and user needs.

  • Implementing Rules: Design the system to prevent exploitation and align stakeholder interests through coded rules, known as mechanism design.

This was just the beginning; in the coming weeks, you'll learn how to spot poor token design, what token relaunches are, the role airdrops can play for a successful token launch 👀.

How to share company success with your team? 😎 

Hardly any other topic gets the Web3 scene going as much as ✨tokenization✨ currently does. In the last issue, I talked about why Lionel Messi tokenized his soccer shoe. Today, I want to give you a chance to connect with a tokenization expert, Christoph Jentzsch.

His company Tokenize.it helps businesses tokenize their shares.

Benefits include:

  • Easy ways for employees to own a part of the company

  • Simple and transparent trading opportunities

  • Real-time fundraising data

Anyone who missed the legendary presentations by Christoph Jentzsch at our events can get all the information in a free webinar.

Solana is turning 4 Years old 🎂

Join the Solana community tomorrow for a full afternoon of fun activities, games, and looking back at all the developments in the last four years!

We are back

Vicky & Marvin are Web3-obsessed. That's why they host a weekly podcast featuring updates and cool stuff.

Don't miss out on any news, updates, & vibes anymore. Discord is so yesterday. Let's meet on Telegram.