Web3 adoption could come via the enterprise, but the real boom will be through start-ups

As the race for enterprise adoption in web3 accelerates, some people believe it’s not one-sided growth, but a journey where both mainstream enterprises and crypto start-ups can bring on new opportunities, reports TechCrunch.

“The signals that we see right now are that the innovation is coming more from enterprises,” Gagan Mac, head of product and senior director of web3 services at Circle, said on a panel at the Avalanche House event in South Korea.

For example, Nike and Starbucks launched their own NFT-linked services: a marketplace and a loyalty program, respectively. “NFTs may be down in value, but every single person who minted a Starbucks NFT with the Odyssey program, they’re all positive, and the value of their NFTs have grown,” Mac said.

Dan Sun, start-up success manager for web3 APAC lead at Google Cloud, said that this market is still nascent. “We’ve been seeing what value we could bring to the new emerging markets and what kind of positioning we should be taking,” he said. “So we’re still discussing, we’re still learning, and we’re still seeing which values we can provide.”

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