Web3, NFTs, Metaverse: The tools for a truly decentralized future

cointelegraph.com:

Attendees to the BlockDown Croatia 2022 festival were witness to Cointelegraph’s discussions around sociopolitics of the Web3 ecosystem, non-fungible tokens (NFT) and the Metaverse. It turns out that ongoing innovations across the crypto ecosystem are well-positioned to dictate the future of media and entertainment.

While crypto continues to blur the lines between the virtual and physical worlds, Cointelegraph’s editor-in-chief, Kristina Cornèr, agreed that “It’s been a crazy year” when talking about the rising impact of crypto innovations within media companies during the BlockDown festival.

Cornèr highlighted use cases within the NFT space that gives independent artists and journalists a platform to raise funds and counter real-world challenges such as climate change. In a separate discussion with Dylan Dewdney, the founder of NFT3, a unified identity network, Cornèr raised questions related to the merging of virtual and physical worlds in the Metaverse.

According to Dewdney, real-world problems have a good chance of seeping into the Metaverse despite the merger of the two worlds. However, he suggested developing a psuodenomous system wherein users are verified but can choose not to disclose their identities to other members of the Metaverse.

As the world slowly shifts into its new home, the Metaverse, Dewdney believes that “the real world will become better.” However, it will require the people to inculcate some of the ethos of crypto — especially in relation to equitability and personal responsibility:

Showcasing an in-house attempt to create the biggest truly community-owned Web3 festival, Cornèr too revealed the relaunch of BlockShow — Cointelegraph’s flagship event — as a decentralized autonomous organization (DAO)