A group of Web3 professionals took to the main stage of Paris Blockchain Week 2023 to discuss how Web3 is a game changer for startups and investors. This new model upends traditional business models and offers start-ups and investors the opportunity to enter new markets.
In a panel discussion titled "Cryptocurrency, Culture and Capital: How Web3 is a Game-Changing Game for Startups and Investors," the panel discussed how Web3 startups are different from Web2 startups, and what's different in them How culture shapes and influences their various ecosystems.
While recognizing the awesome milestone achieved by Web3 entrepreneurs, Laurenz Apiarius, founder and managing partner of Blockwall Digital and Blockwall Capital, noted that this has had both good and bad effects on the industry. Apiarius explained that there are entrepreneurs who take advantage of the Web3 narrative knowing that some investors will inflate valuations based on futuristic beliefs about what might happen and end up failing to deliver on their promises. That action, in turn, hurt investors who lost money in the process. Regarding the role of investors in Web3, Amos Meiri, founding partner of Node Capital, commented that the needs of Web3 organizations are different from what investors from Web2 are used to. Meiri explained that investors need to understand the technical, legal and even marketing of the project being built; as this will help channel their support to entrepreneurs in the right way.
Igneus Terrenus, Head of Partnerships at BitDAO, spoke about the Decentralized Autonomous Organization (DAO) model for Web3 startup governance. While a DAO is not a perfect model, it is important to motivate and educate DAO stakeholders, he said. In the near future, DAOs are expected to work with limited liability companies (LLCs), he explained.
