Navigators of Web 3.0 Need Insight from AI Sector's Triumphs
In the rapidly evolving world of technology, it's clear that companies like xAI, OpenAI, and Google dominate the AI market, demonstrating more innovation than their Web 3.0 counterparts. As the digital landscape continues to reshape, it's essential for Web 3.0 companies that wish to survive and thrive to learn from the successes and strategies of the AI industry.
The time has come for crypto to move beyond its current focus on messaging apps and X strategies, and instead, aim for the boardrooms of Fortune 500 companies. The days of memecoins, redundant DeFi protocols, and incomplete metaverses are numbered under the strain of zero-sum competition.
Web 3.0's decentralization, while idealistic, has led to confusion among investors. It's becoming increasingly difficult for investors to discern which Web 3.0 projects are genuine and offer solutions to real-world problems. In contrast, partners are eager to make deals with the AI behemoths building out world-changing infrastructure.
The solutions that will propel the blockchain world towards real-world utility and monopoly lie in adopting the strategies that have proven successful in the AI industry.
Shift the Mindset Before the Tech
Successful digital transformation relies on changing people's mindsets more than just adopting new technology. Web 3.0 founders should prioritize cultural and strategic shifts early to fully leverage Web 3 capabilities rather than rushing to adopt technology without readiness.
Be Problem-Driven and Practical
AI leaders stress the importance of building scalable, needed solutions grounded in clear problem definitions, rather than chasing trends. Web 3 founders can benefit from focusing on solving tangible problems and defining clear success metrics, avoiding hype-driven products that lack real-world impact.
Integrate Human Judgment with Automation
AI's best applications combine automation with human oversight to mitigate risks like errors and ethical issues. Web 3 projects, especially those handling assets or compliance, should incorporate transparent human governance mechanisms to build trust and reliability.
Create Unique, Valuable Monopolies
Standing out in Web 3 requires clear uniqueness and product-market fit rather than recycled buzzwords or tokenomics jargon. Impactful founders must articulate what makes their project truly distinctive and indispensable to users.
Build Strong Partnerships and Ecosystems
AI ventures grow through collaborations with scientific, business, and regulatory stakeholders. Web 3 founders can enhance impact by aligning with trusted partners to access expertise, drive adoption, and navigate evolving norms.
In essence, Web 3.0 founders should treat emerging tech as a tool to rethink business models and user value, embed ethical oversight, adopt a clear problem-solving mindset, and differentiate distinctly to survive and have lasting impact—following patterns already proven in AI-driven industries.
The quest for decentralization, ownership, and democratized value creation has stalled. The idealism of Web 3.0 is proving not to mesh with reality. Big money has found it difficult to navigate the decentralized web of Web 3.0 companies. The biggest blockchains, such as Ethereum and Solana, will begin to pin their fates on centralized solutions. Centralization is winning over decentralization in the tech industry.
Web 3.0 founders are left with no other option than to pivot and move towards a new strategy. The incestuous strategic partnerships of crypto projects with each other have resulted in limited innovation. Web 3.0 must pivot and accept defeat, and reorganize.
Manouk Termaaten, the founder and CEO of Vertical Studio AI, an AI technologies company aiming to make AI accessible for everyone via customization tools and affordable computers, is a shining example of a leader who has embraced the lessons of the AI industry. His company's focus on practical implementation, responsible use, and the uniqueness of their project serves as a model for Web 3.0 founders looking to adapt and thrive in the new technological landscape.
[1] Adapted from: https://www.forbes.com/sites/forbestechcouncil/2022/04/06/web3-founders-need-to-learn-from-the-ai-industry/?sh=60e61b8d5905 [2] Adapted from: https://www.forbes.com/sites/forbestechcouncil/2022/04/06/web3-founders-need-to-learn-from-the-ai-industry/?sh=60e61b8d5905 [3] Adapted from: https://www.forbes.com/sites/forbestechcouncil/2022/04/06/web3-founders-need-to-learn-from-the-ai-industry/?sh=60e61b8d5905 [4] Adapted from: https://www.forbes.com/sites/forbestechcouncil/2022/04/06/web3-founders-need-to-learn-from-the-ai-industry/?sh=60e61b8d5905
- To remain relevant in the competitive landscape of crypto, altcoins should look beyond messaging apps and conventional X strategies, and instead, aim for boardrooms of Fortune 500 companies, mirroring the approach of AI industry leaders and AI behemoths.
- In order to create genuinely valuable and distinct projects, Web 3.0 founders need to learn from the AI industry's emphasis on solving real-world problems, building scalable solutions, and integrating human oversight, moving away from memecoins, redundant DeFi protocols, and incomplete metaverses.
- The future of blockchain technology depends on adopting the strategic alliances that have propelled the AI sector forward, forming strong partnerships with key stakeholders and ecosystems to drive acceptance, navigate evolving norms, and increase impact, much like Manouk Termaaten, the founder of Vertical Studio AI, who successfully juxtaposed his company's AI technologies with the lessons of the AI industry.
