Why More Developers Matter in Web3

Yat Siu, the co-founder and chairman of Animoca Brands, recently made waves at Korean Blockchain Week 2022. During an insightful chat with Cointelegraph, he hit on a crucial point: the necessity for more developers in the Web3 space. Why? Because without diversity and choice, our beloved decentralized environment resembles a small, crowded café where everyone is sipping the same overpriced coffee.

Choice Equals Power

Siu passionately argued that consumers need multiple options to truly benefit from decentralization. When developing platforms, it’s not just about the latest tech trends; it’s about giving users the means to choose based on preference, be it value or cultural significance. “We need a medley of Layer-1s and Layer-2s,” he exclaimed, hinting that the competition breeds innovation. Imagine browsing through a vending machine of decentralized apps instead of getting stuck with just a can of cola!

Breaking Free from Centralization

Much like a bird longing to leave its cage, developers, often shackled to centralized giants like Apple and Google, are eyeing the vast skies of blockchain possibilities. Siu pointed out, “Many developers aren’t blockchain versed, but they’re eager to dip their toes.” He noted that liberation from these traditional platforms could pave the way for a unique range of choices for users. If only the social dinosaurs like Facebook transitioned to blockchain—then we wouldn’t be stuck in a never-ending cycle of scrolling through the same old feed!

Collaboration Over Competition

The debate of whether blockchain developers should focus on collaboration or competition is as old as time itself—well, maybe just old as the internet. When asked, Siu stated he doesn’t want any Web3 project to fail, as the absence of options leads to monopolies. Having numerous projects thriving in this space would mean everyone dances to their own tune without stepping on toes.

The Sustainable Future of Web3

Siu’s vision for a variety of Web3 projects making their mark in the market seems like a win-win scenario. With blockchain projects surviving on 500,000 to a million users, they can maintain a sustainable framework while still providing alternatives—imagine a buffet where you can sample from multiple dishes instead of just a sad salad!

The Vision of Animoca Brands

Lastly, let’s not forget that Animoca Brands isn’t just any old venture capital firm; it’s pushing the boundaries of digital property rights through NFTs and gaming. By morphing the NFT landscape and propelling us toward a decentralized Metaverse, they’re on a mission to show what the future could look like if we all get on board the Web3 train.