Web3 is the decentralized iteration of the internet based on blockchain technology, which powers nonfungible tokens and underpins cryptocurrencies like bitcoin.
Like it or not, Web3 is coming, and Vancouver is at the centre of it.
Local tech champion Ray Walia recently wrote about how Vancouver tech leaders and investors are paving the way for the decentralized web.
We are at the tipping point of a new phase in the web’s evolution, where layers of technology like machine learning, artificial intelligence and blockchain are drastically improving on what is now possible online. Some early pioneers call it Web3 and it encompasses layers such as crypto, DeFi, NFTs, DAOs, AI/ML, cyber security, VR, AR, Metaverse, and so much more.
Techcouver has covered our fair share of Web3 stories this year and here are six of the most popular ones:
WestCoastNFT is no stranger to hugely successful NFT drops. In their first three months of business, the smart contract development agency generated $2 million in revenue and $23 million in revenue for artists and creators. With 13 drops under their belt including, 888, Based Fished Mafia, and Boneheads, the team can now add one of the most remarkable mints in NFT history, Doodles, to their roster.
Daz 3D, a leader in 3D humanoid and avatar tech, today announced the launch of a new NFT collection: Non-Fungible People. The utility-rich collection of 8,888 stunningly 3D rendered, algorithmically generated female and some non-binary PFP NFTs features artwork created by Daz 3D’s award-winning international community of female, male, and non-binary artists. The collection will be available in an initial pre-sale coming soon.
Although the NFT space came to fruition well over five years ago, the industry itself is still very much unknown. And for good reason. It’s complex. It’s constantly evolving. And, despite it being a community where #wagmi (we’re all going to make it) is the hashtag of choice, it can be very intimidating for the average person to enter into.
Artists, digital creators and luxury brands are cashing in on transactions worth millions of dollars, on an explosion in Non-Fungible Tokens (NFTs) — but only if they know what they’re doing. The barrier to entry for any individual or company just dropped to almost zero thanks to LNFT, an open source marketplace platform developed by Vancouver’s CoinOS.
Dapper Labs partnered with the celebrity-driven avatar tech company Genies to build a new marketplace on Dapper Labs’ Flow blockchain. Dapper Labs uses the power of play to deliver blockchain-based experiences in the real world. Getting their start with collecting and breeding digital at CryptoKitties—the world’s most successful blockchain game—the Vancouver studio also lets basketball fans trade jaw-dropping NBA basketball highlights with NBA Top Shot.
Looking Glass Labs announced this week that its flagship studio House of Kibaa recently conducted the successful sale of a class of non-fungible tokens (NFTs) known as GenZeroes. GenZeroes is a new multi-media franchise and is being developed in collaboration with several artists with work experience that includes projects for both the StarWars and Marvel franchises. In just 37 minutes, all 10,000 of HoK’s GenZeroes were sold and subsequently delivered to more than 3,000 unique blockchain wallets, for aggregate proceeds to LG Labs of approximately $6,200,000.