Investment continues, and enforcement has picked up

Smart money continues to pour into blockchain projects. Web3 entrepreneurs have now learned that, like their Web2 counterparts before them, they must distil their fifty brilliant ideas into one or two in order to gel their community support and attract investors. Key regulators continue to provide guidance, even if it is only regulation by enforcement, with the SEC jockeying to become the primary crypto regulator in the United States.

In this whiplash enforcement environment, service providers like lawyers and accountants have been required to slow down and think about the types of projects and clients they want to be involved with, as well as forecast where the regulatory environment is headed.

A wide array of promising Web3 projects

In the past six months, I have spoken with people involved in the following types of blockchain projects, many of which span one or more international jurisdictions:

Gaming (play to earn or P2E)
Language learning (also P2E)
Film and NFT fractionalisation
Bored Apes licensing
International finance and crypto
Cannabis stores in the metaverse
Music NFTs (international and domestic artists)
Crypto investment advisory funds
Biotech and healthcare investment group DAO
Web3 trade secrets and patents
Fractionalisation of real estate assets
DeSci (decentralised science)
Contract disputes over NFTs

The technology is proven and has been deployed all over the world, and its adoption will only increase. Aside from the usual suspects (Andreessen Horowitz, Coinbase, and Riot Blockchain), many well-known public companies are deep into Web3. These include AMD, Microsoft, Intel, Square, NVIDIA, PayPal, IBM, and very recently, JP Morgan Chase.

Contrary to popular belief, many blockchain entrepreneurs have acknowledged the need – and even pleaded and begged – for clear regulations in the industry. This is especially true of those developers who are persevering through this crypto winter.

With the global economy teetering on the edge of recession, many do not expect the crypto winter to end soon. But they continue to build because they believe in the technology. Additional guidance from lawmakers will provide a much-needed, clear foundation for this new wave of global entrepreneurs.

Photo: Framestock - stock.adobe.com

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