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Third, NFTs can include what are called smart contracts, or coded elements that can automatically take actions under certain conditions. The concept is of an automated and self-enforcing set of rules that can’t be ignored or skipped.

The difference between Web2 and Web3 businesses, is that Web3 businesses are open-sourced. Simply imagine Uber operating openly – anyone who wants to, is able to see all the transactions in its network. There’s no proprietary secret hidden to defend itself from competitors (or even hackers). It’s all up to the community & its network, to cooperate

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5. Social DAOThese are platforms for social interactions and social networking. Examples include Friends With Benefits, Ape DAO, and even Decentraland DAO.What are the Benefits of a DAO?Here are some of the benefits of a decentralized autonomous organization:They are trustless. You don’t need to trust a CEO or management teamIt can’t be shut down... See more

2. Investment DAOHere, a group of people, let’s call them investors, pool their money together and make investment decisions. These decisions could include investing in start-ups or artworks. Investment DAOs support capital pooling for various DeFi operations. Examples of Investment DAOs include the Meta Cartel DAO, a community made up of people... See more

How do I pick an idea and validate it?Based on my research, there are three common ways to come up with an idea:Market first: Start with a market or space that interests you, then look for a specific problem.Experience ripe for improvement: Look for areas where you believe there should be a better consumer experience than what currently exists, and... See more

This is technology’s second philosophy, and it is orthogonal to the other: the expectation is not that the computer does your work for you, but rather that the computer enables you to do your work better and more efficiently. And, with this philosophy, comes a different take on responsibility. Pichai, in the opening of Google’s keynote,... See more

The major themes of this shift are the metaverse and web3 movements. They are two sides of the same coin, creating a new front- and backend of the Web. Where metaverse uses new tech like extended reality and AI to create new ways of digital interaction, web3 is using blockchain and tokenization to build a more distributed data layer into the... See more

Why is Web3 a Lucrative Investment Opportunity?When users are owners, they have decision-making power and this is the reason so many forward-thinking investors and innovators, including Untapped Ventures, are betting big on Web3 technologies.Untapped is a Venture Studio dedicated to creating products and services to help people live their best... See more