The web as we know it no longer exists
A photo showing a spider web outside.
Jed Share / Kaoru Share via Getty Images
Technicians watch a new Internet take shape before their eyes. Known as Web3, this version of the web runs on cryptographic tokens and aims to unbundle existing internet services.
“Every now and then, new technology emerges that opens up new possibilities in consumer experiences,” said Sarah tavel, general partner at Benchmark, where she invests in consumer and crypto. “For years, crypto has been in its infrastructure-building phase, and it’s just getting to the point where new consumer experiences can be built on top of it.”
Investors are eager to see Web3 go mainstream in 2022. Mike jones, co-founder and managing partner of Science, said more companies would take advantage of crypto principles even without users noticing. Talia Goldberg, a partner at Bessemer, agrees: “’Web3′ will only be ‘the web’ as the complexities of blockchain are removed and consumer adoption increases. “
Soon, a new generation of startup unicorns could emerge in space.
“With the flow of talent in this space, it’s a race to find Uber, Twitter, Web3 economy’s Stripe,” said Anne Bordetsky, a NEA partner who previously worked at Uber and Twitter.
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