The NFT market has attracted great attention in recent years, and many people have begun exploring this industry.

[NFT](/news/category/nft-news) is an abbreviation of non-fungible token, which is a one-of-a-kind digital asset that cannot be copied or traded for anything else. NFTs may symbolise anything, from art to music or tweets to virtual real estate. The NFT market is predicted to develop drastically in 2023, and we will see more innovative applications for this technology.

What is the NFT market? It is a place where individuals can trade, buy, and sell unique items. This internet marketplace is similar to an auction house but has a decentralised approach. That means no centralised entity governs it. As a result, anyone may participate in this open and transparent market.

The NFT industry is expected to grow in 2023 due to the increasing interest of content creators, such as artists and musicians. Many have already started using NFTs to sell their digital creations. NFTs allow them to verify the authenticity and ownership of their work and generate additional income. This allows artists to sell their work directly to their audience without middlemen. This notable trend is expected to continue as more artists embrace NFTs.

Another factor contributing to the NFT market growth is the increased use of blockchain technology. NFTs are built on blockchain tech, which provides secure and transparent storage and transfer of digital assets. More people will explore and engage in the NFT market as they become acquanited with this technology.

The NFT market is a prime example of how blockchain has the potential to revolutionise multiple sectors.

## NFT Use Cases

As the NFT market evolves, we can clearly see its expansion through various use cases. NFTs have the potential to represent many objects, and we can expect more innovative applications for this technology in the future. Many businesses are experimenting with using NFTs in areas such as ticketing, gaming, and [virtual real estate](/news/article/tokenized-real-estate). There is also the possibility of using NFTs for digital identification to resolve issues related to online identity verification.

Increased investor interest is another reason the NFT market is expected to grow. NFTs are established as a new asset class, and many investors are keen to learn more about them. As rare NFTs sell for millions of dollars, the market's liquidity is expected to soar as more people get involved.

The rise of NFTs is driven by vital factors such as the growing interest from content creators like artists and musicians, the acceptance of blockchain technology, the creation of new use cases, and investor interest. As the NFT industry thrives, it will create new possibilities for investors, artists, and other crucial market participants.

Learn more about NFTs and visit [Crypto Club Site](https://cryptoclubsite.com/).








Will the NFT Market Develop in 2023?

The Claymates NFT project is an innovative take on digital collectables. It combines [Cardano's blockchain technology](/news/article/cardano-analysis-and-explanation) with art, culture, and music. Clay Labs Digital launched these NFTs as part of the Clay Nation project in April 2021. 
[Claymates](https://www.claymates.org/) promotes sculpture art by turning hand-sculpted characters into non-fungible tokens. It introduces a collection of more than 10,000 unique collectables with real-life sculpture traits. In the Clayverse, these Claymates play a critical role as they can work as user avatars.

The concept behind Claymates Clay Nation is the brainchild of Isobel Robson and Lenna Onto, who founded it back in 2021. It is a creative take on digital assets built around the concept of ‘claymation’. Claymation, or clay animation, is a conventional method of filmmaking from modifiable characters.

Claymation is a popular animated filmmaking method using stop-motion photography. These NFTs are created algorithmically to shape different 3D sculpted characters. The collectables live on the Cardano blockchain as lively clay characters. The Claymates collection is created for entertainment, and you can collect them as your avatars in Clayverse.

## Clay Nation digital collectables 

The [Clay Nation](https://www.claynation.io/) collectables are among the most highly rated projects on the [Cardano network](/news/article/cardano-nft-marketplace). The series introduces 10,000 hand-sculpted unique character NFTs. All of its NFTs sold out within hours of its first drop.

So far, the project has launched NFTs in two series. It has also published an expansion pack and collaborative art pieces separately. It collaborated with several other Cardano projects like Collabits, Good Charlotte, and SpaceBudz.

## Claymates NFT price

According to the analytical data by [Open CNFT](https://opencnft.io/clay-nation-by-clay-mates), the floor price of these NFTs has been ₳4,100. The total volume traded in this project is ₳32 million.

Interestingly, in the past 30 days, the average price of Claymates was ₳5,218.35. In this period, a total of 248 assets were sold. Moreover, the ADA traded volume was ₳1,294,150.


![screenshot of line graph](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_02_20_at_14_08_58_63e95e707a.webp)


## Why does Claymates use the Cardano blockchain?

The primary reason behind opting for ADA for Claymates NFT project was its founders' previous affiliations with the network. Before launching Clay Nation, Lenna Onto worked with [IOHK](https://iohk.io/) for a stake pool.

As she was familiar with the ins and outs of the Cardano ecosystem, she opted for it for her clay-esque NFTs. The project’s white paper mentions that “Cardano is our roots”.

Secondly, the founders were also inspired by the ethos and sustainability of the blockchain. In addition, the blockchain platform is known for its dynamic community and diverse network, which aligns with Claymates’ vision. Charitable initiatives and fostering inclusivity are common goals for both. The founders dubbed the network a ‘natural home’ for their project.

## The future of Claymates NFTs

It is already ranked among the top three projects on Cardano. It has partnered with several big names in the art and music industry.

One famous name is Good Charlotte, an American band. Meanwhile, another striking collaboration has been with the renowned American rapper Snoop Dogg and his son Champ.

These partnerships indicated what its digital collectables can offer the entertainment industry.

If the project continues to bring forth new collectables and partner up with more artists, it can be a huge success for Cardano, too. As NFTs are becoming more popular, Claymates can become a trendsetter in the market.

Exploring the Claymates NFT Project

Global entertainment Titan Sony, through its affiliate Sony Network Communications, has launched a Web3 incubation program in partnership with blockchain innovation hub [Astar Network](https://astar.network/).

The partnership aims to advance relevant technologies by helping upcoming startups gain initial traction. 

According to an official [press release](https://astar.network/incubation/) by the multi-chain smart contract platform, the incubation program is meant to support [Web3 initiatives](/news/article/what-is-web-3.0-crypto). It will mainly focus on highlighting the practical applications of non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs). Singapore-based Startale Labs, the brainchild of Astar Network CEO and founder Sota Watanabe, organizes the program. 

## Astar Network ongoing partnerships

The Astar Network CEO stated that [applications for the program](https://astar.network/incubation), which will run for three months beginning mid-March, open on 17 February and close on 6 March. Watanabe explained that the successful participants would be placed in 10 to 15 cohorts. The facilitators will include experts from global VC firms like Dragonfly, Fenbushi Capital, and Alchemy Venture. Moreover, the successful candidates will also access additional business strategy and tech support based on Astar's development, past consulting, and business expertise.

In tandem with its ongoing partnership with firms interested in exploring Web3 technology use cases, the incubation program aims to enable startups to convert their viable ideas into visible products irrespective of the Web3 startup phase. Using the firm’s robust ecosystem, the program will prioritize candidates engaged in [DeFi](/news/article/what-is-a-defi-token), Web3 gaming and metaverse, and infrastructure.

## Recent partnerships

Startale Labs develops DApps and infrastructure and acts as the gateway for enterprises interested in partnering with Astar Network by offering consulting services leveraging knowledge in multi-chain protocol development.

The Japanese tech giant Sony ventured into the burgeoning NGT gaming field alongside embracing Web3 technology in the recent past. The firm that is popular for its PlayStation gaming consoles launched a motion-tracking wearable Metaverse gadget in November 2022. The firm has already set up a regional office in Singapore to run development and consulting services for NFT-related products.   

Besides partnering with Sony, Astra also recently on-boarded Japan’s leading car manufacturer Toyota as it began to explore how it could introduce the Web3 experience into its operations. Apart from becoming among the first parachains to embrace the Polkadot ecosystem, the firm has also on-boarded Japan’s NTT Docomo to facilitate mass adoption of Web3 and its social implementation.


sony and astar logos on blue image of blockchain

Astar Network and Sony Launch Web3 Partnership 

It’s no secret that digital art and pop culture go hand in hand. Still, you won’t find many [marketplaces](/news/article/nft-art-marketplaces) dedicated explicitly to these art pieces. Nonetheless, one platform which has made its name in pop industry NFTs is [Droppp](https://droppp.io/). 

It leverages one of the most popular blockchains for Web3 projects, [WAX](https://www.wax.io/). The platform offers various collections of popular culture-related digital collectables. It's a beginner-friendly platform, and even those with limited knowledge of crypto and NFT can easily navigate it. 

## What is the Droppp NFT marketplace?

A leading lifestyle brand, Funko, backs the Droppp marketplace. The brand deals with various fandom-related toys and other accessories and extended its product line by including digital collectables on this platform. You can find NFTs based on fandom themes like [Game of Thrones](https://droppp.io/drop/75/game-of-thrones-series-1/), [DC](/news/article/the-batman-cowl-nft), [The Matrix](/news/article/matrix-nft), Nickelodeon cartoons, and others.

It not only allows you to hold a digital asset, but also gives you a chance to get physical collectables. There are redeemable NFTs for which you can get Redemption tokens. With these tokens, you can get any physical item.

Dealings within the marketplace are pretty straightforward. You can create an account with your email, Google, or [Apple account](https://support.apple.com/guide/healthregister/create-an-apple-id-apdfe783ba7c/web) to get a free version. However, you must get the premium version to access a personalised wallet address. Transactions on the platform are in USD, so you don’t have to deal with crypto.

## How do I buy from Droppp?

To buy an NFT from its marketplace, you would need a Droppp wallet, which can be either a free or premium account. Premium one can give instant access to a customisable “.dp" wallet. It also allows you to purchase NFTs from other markets, and the assets are transferable with it. You can acquire all these features for $4.99 only.

The free version has limitations, like not offering a wallet until you purchase a pack directly from the launch. You also have to deal with a support member to activate the address.

After choosing an option and activating the wallet, you can buy assets from NFT collections. You can use your credit card, [Apple Pay](/news/article/stablecoin-issuer-circle-apple-pay), or [Google Pay](https://pay.google.com/) to buy it.  

## Is Droppp.io safe?

It is a secure option built with a trusted blockchain, WAX. Moreover, the transactions are transparent and verifiable with various pop brands’ affiliations, which speaks for its credibility.


Droppp NFT Platform Explored

[Ramp Network](https://ramp.network/) is a fintech company that provides payment infrastructure to bridge the crypto-finance divide.

The company's goal is to create a meshed, easily accessible link between the open blockchain financial system and the old, closed banking system, removing the requirement for a trusted third party to act as a go-between.

It is a non-custodial, full-stack payment system that speeds up transaction implementation and fosters confidence among its partners with its superior technology. It is accessible in more than 160 countries, which has ensured that it has millions of customers and more than 400 registered partners.

Przemek Kowalczyk and Szymon Sypniewicz founded the network in Poland in 2018. Ramp Swaps is a crypto asset firm registered with the [UK Financial Conduct Authority](/news/article/ftx-uk-warning) for crypto activity. The network Link's open banking operation is regulated by the Polish Financial Supervision Authority.

The company has received [$133.9 million](https://www.crunchbase.com/organization/ramp-3b7b) in investment over four rounds. Their most recent funding came from a Series B round on 9 November, 2022. So far, 27 investors have contributed to the financing of the company. The most recent investors are Korelya Capital and Cogito Capital Partners.

## What are the benefits of Ramp Network?

It provides a simple way for users to buy and sell cryptocurrencies directly from Dapp. Ramp's partners could reach larger customers, receive payments, and provide regulated services to their end customers while remaining compliant.

Enterprises, [games](/news/article/best-farm-games-2022), NFT(non-fungible token) marketplaces, decentralized finance businesses, [wallets](/news/article/top-rated-bitcoin-wallets-uk), and any other company that wants to provide fiat-crypto flow to their users within their products can use the company's platform integration, allowing clients to quickly enter into contracts and lock a digital asset for their operations.

## Ramp Network is fully compliant

You can be confident that any transactions done with this tool are entirely secure and guaranteed due to official legislation, institutional control, and modern technology. 

As a regulated organization, it has ensured that KYC rules for [crypto](/news/article/are-crypto-gains-taxed-in-uk) purchases are followed. This implies that to transact via Ramp, you will need to work with this network to verify your identity. This company can verify your KYC identity using your bank account data and the open banking API. This procedure takes only a few seconds, and no physical documents are necessary.

Smart contracts protect Ethereum transactions made possible by the Instant bank transfer payment option. The network’s open source employs smart contracts, which makes them capable of being industry leaders in the coming years. In addition, their smart contracts are audited by Quantstamp, which again proves the quality.

## Bottom line

Ramp partners can reach new audiences, collect fees, and provide regulated services to their end customers while remaining compliant. It will be exciting to see how Ramp Network uses its technology, team, partners, and the trust of its customers to scale its platform to be a leader in the industry.


Green image of computer network with ramp logo

Ramp Network - Accelerating Crypto Adoption

WOW Summit

After successful editions in Dubai, UAE, and Lisbon, Portugal, WOW Summit Hong Kong will become a flagship full-scale Web3 event in the APAC region in 2023 along with General Partner OKX. The conference will host over 5000 attendees on March 29-30 at a world-class venue AsiaWorld-Expo. WOW Hong Kong is supported by government institutions - Invest Hong Kong and Hong Kong Tourism Board - and will be co-hosted by the well-known blockchain ecosystem players - Uvecon.VC, [MaGESpire](https://magespire.io/), organized by [GuyWay](https://guyway.events), and powered by [Market Making Pro](https://marketmaking.pro). The founder of MaGESpire, Bowie Lau, is one of the [biggest Web3 names](https://www.tatlerasia.com/power-purpose/technology/tatler-hong-kong-biggest-web3-names-to-know) in Hong Kong by Tatler Asia. 

"Thrilled and excited to return to the Web3 arena as a co-host of the blockbuster WOW Summit 2023, Hong Kong edition, one of the biggest and the brightest Web3 conferences in the APAC region, filled with thought leaders, trailblazers, and industry experts looking to shape the future of the industry. Hong Kong, as the home ground to the world's largest Web3 Gaming and Metaverse players, has always treaded with cautious optimism when it comes to crypto and Web3 and largely avoided the fallout of the Crypto Winter. But with an increasingly supportive regulatory stance and the open embrace of Metaverse, Hong Kong is positioned well to re-claim its leadership in the Web3 space!" said Bowie Lau, the founder of MaGESpire.

The General Partner of WOW Hong Kong - [OKX](https://www.okx.com/web3) - is a world-leading technology company building the future of Web3 and known for having a reliable crypto trading platform for investors and professional traders. OKX’s crypto exchange is the second largest globally by trading volume. In line with its commitment to transparency and security, the company publishes the Proof of Reserves on a monthly basis. 

“OKX is pleased to serve as the General Partner of WOW Hong Kong, which will be a showcase and celebration of how Web3 and crypto are shaping our world,” said Lennix Lai, Managing Director of Financial Markets at OKX. “The Web3 community in Hong Kong is as vibrant as ever, if perhaps less visible in recent years. That’s going to change quickly thanks to events like WOW Hong Kong, which will propel Hong Kong’s Web3 industry to the forefront once again by bringing leaders of all stripes together.”

Top industry leaders, developers, startups, VCs, funds, corporates, and creators will gather at WOW HK to discuss the hottest topics in the space, network, and harness new business opportunities. Hong Kong is made for tech gatherings, and Web3 is booming here. WOW Summit Hong Kong is the first full-scale Web3 event since the city's reopening after Covid. Attendees can expect the talks and fireside chats on the Web2-to-Web3 transition and the future of the internet, blockchain adoption, real assets tokenization, [NFT](/news/category/nft-news) and Metaverse use cases, CBDC, regulations, and more. Renowned speakers, such as Yat Siu (Co-Founder & Executive Chairman at Animoca Brands), Lennix Lai (MD of Global Institutional at OKX), Benedicte N. Nolens (Head of BIS Innovation Hub HK Centre), Dave Chapman (Executive Director at BC Group), Angelina A. Kwan (CEO at Stratford Finance Limited), Duncan Wong (CEO at CryptoBLK), Gillian Howard (Founder & Fair Director at Digital Art Fair) among others, will break the talks on the stage. 

Talented artists from across the globe will present their work at the NFT and Digital Art Exhibition. In addition, startups building in Web3 will have a chance to participate in a startup competition, pitch in front of well-known funds, VCs, and corporate partners, and get grants for their project development. Brinc and OLN Law are among the main partners of the event. 

"The transition from Web2 to Web3, from centralized services to decentralized, is happening now despite the global recession, crypto winter, and uncertainty. Technological progress is unstoppable. Data privacy, end-user data ownership, access to financial products for the unbanked, digital property rights, new tools for customer loyalty management, DAO, and metaverse development - these are the trends of the third decade of the 21st century. Hong Kong has reopened its borders and introduced a new vision on Web3 and virtual assets, welcoming tech companies from all over the world. I'm excited to bring [WOW Summit](https://wowsummit.net/hong-kong-mar-2023/) here to boost the transition to Web3; WOW things will happen here!" said Ivan V. Ivanov, CEO of WOW Summit, Partner of UVECON.VC.

March 29-30 is perfect timing for [WOW Hong Kong](https://wowsummit.net/hong-kong-mar-2023/), as it will happen between two other popular events - Art Basel HK and Hong Kong Sevens, when the city will buzz and crave more entertainment. Besides the conference, several side events will offer more casual networking throughout the week and will be announced on the WOW Summit’s website. WOW Summit HK promises to be extraordinary and accommodate dozens of top Web3 companies, partners, publishing houses, VCs, speakers, and influencers. It is a must-visit Web3 event in 2023 for the global change-makers building a new world.



blue image of abstract mesh design with WOW word of web3 summit logo overlayed. 

WOW Summit Hong Kong 2023 to Be the Flagship Web3 Event in APAC

Leading blockchain infrastructure provider and data aggregator for guilds and [Web3](/news/article/what-is-web-3.0-crypto) projects, [BlockchainSpace (BSPC)](https://www.blockchainspace.asia/) has [acquired the majority stake](https://twitter.com/Blockchain_SPC/status/1615680705916198912) at gaming and e-sports media house and agency, Metasports. The move sets the stage for excellent prospects for the Web3 community as the year 2023 unfolds.   

The strategic partnership with Metasports, at a time of increased market uncertainty, is expected to generate more value for BSPC's Guild Hub, the firm's flagship product, while giving Metasports a solid foundation to access high-impact Web3 communities.

BlockchainSpace founder and CEO Peter Ing said the partnership aligns with similar objectives. It will become a springboard toward a robust 2023, hoping it will enable the firm to take even more significant strides as the year progresses.

Commenting, Ing stressed that the companies look forward to "unlocking the potential of blockchain technology" as well as "discovering new ways to drive growth".

## BlockchainSpace addressing business legitimacy issues

BlockchainSpace launched the Guild Hub project in November 2022 after noticing that while the emergence of increasing online Web3 communities associated with gaming guilds was instrumental in driving web adoption and creating entrepreneurial opportunities, business owners needed a forum for legitimizing their businesses. 

The Guild Hub, therefore, is a forum aiming at addressing the business legitimacy issues and offering a more effective way of monitoring the Web3 community while guaranteeing that every guild is accounted for and is safe to partner with.

With Guild Hub, BlockchainSpace provides all guilds with a "Guild Profile", a BSPC-certified identity enabling the stakeholders to access various projects and platforms besides viewing participating platforms, products, services, news, analytics, and crypto on-ramps and off-ramps. The Guild Hub is also designed to enable [Web3 games](/news/article/web3-games-raised-millions) to determine what guilds to partner with while players can select the right communities with which to connect.

## Introducing significant changes

Launched in December 2021, [Metasports](https://www.metasports.gg/) is the go-to media house and gaming agency and the parent organization behind successful online publications like Lunacian Sports League, Kookoo TV, SEAesport News & Media, and others.

The firm offers access to leading content creators and more than 500 Web3 guilds, besides acting as a bridge between Web2 and Web3 gaming.

Through their newfound partnership, both firms are geared toward introducing noteworthy changes to impact their business development, besides significantly contributing to the success and longevity of the up-and-coming global Web3 community.


blockchain space logo over image of cryptocurrency coins

BlockchainSpace Takes Bold Leap in Web3 Gaming 

The need for alternative forms of payment has never been greater. The rise of Web3 payment solutions, like Kasta crypto, proves this need is more than just a passing trend.

The Web3 payment provider Kasta was developed to expedite the adoption of decentralisation while providing a viable medium of digital exchange.

Built on the Polygon network, Kasta crypto is an [ERC-20](https://en.wikipedia.org/wiki/Ethereum#ERC20) token allowing holders to send and receive the same coins instantly and for free. This simplicity and ease of use will make the platform a hit in the digital revolution.

## Simple yet powerful

The project has been designed with simplicity in mind, making the transfer of digital assets safe and convenient. Holders can send tokens via mobile number or by simply scanning the QR code. Using crypto has never been easier.

At its core, the project is a basic wallet application with various features encouraging everyday use. This accessibility means anyone can quickly learn to use the platform for their own benefit.

The application is a powerful all-in-one wallet allowing even the most novice crypto users to enter the Web3 world. While the platform only supports eight coins so far, they include some of the most popular tokens on the market.

## Easy Swap

The platform's native token is the [$KASTA coin](https://coinmarketcap.com/currencies/kasta/markets/) which is currently available at a wide variety of exchanges, including Gate.io, UniSwap, and ByBit.
With a current circulating supply of 129 million priced at $0.0266 per coin, the total market cap is $3.4 million.

The 'Easy Swap Engine' allows holders to choose which token to receive, regardless of the coin sent. For example, should a friend send Bitcoin, you can simply change your settings to ensure that all crypto is received in Ethereum.

Kasta crypto token forms the backbone of the application, and, alongside P2P payments, it will soon be used for several other purposes.

## Future of Kasta

This project is a shining example of a P2P payment processor and is leading the way in blockchain adoption and Web3 development. The company has ambitious plans for the future, with many features currently in the pipeline. 

In the near term, users will be able to earn passive income by taking advantage of various yield-generating opportunities via the mobile app. Furthermore, platform users will also be able to apply for a debit card, allowing them to spend their crypto holdings in a wide variety of merchant stores. 

Lastly, all application users will be able to choose to stake their idle crypto and earn passive income.

With countries like Nigeria pushing their citizens to adopt [distributed solutions](/news/article/paybis-rewards-customers), the future of cross-border payments is about to change. Applications like Kasta crypto are at the cutting edge of the decentralised revolution and will form the backbone of the future society.


Kasta Crypto - Changing Thinking on Money

[Biconomy](https://www.biconomy.io/) is one of the outstanding companies rooted in India, paving its way into the Web3 space. The company provides a cross-chain layer infrastructure handling transactions and gas payments bridging applications into Web3. It also owns the BICO token, which has been listed on many exchanges.

While many Web3 applications are built on Ethereum, the increased traffic is causing congestion on the blockchain. The congestion significantly raises gas prices forcing developers to seek alternative chains for their applications.

## Impact on Web3

Biconomy's network allows gasless transactions bringing down all costs for decentralized finance (DeFi) applications facilitating Web3 transactions. Some of its well-known products include Mexa, Forward, and Hyphen.

Mexa facilitates gasless transactions in decentralized applications (Dapps). Forward on the hand, allows users to pay their transaction fees using tokens instead of gas. Hyphen, the final product, provides fast and less expensive token transfers through different [blockchain](/news/article/what-is-blockchain) networks.

The combination of these products renders the protocol multiple uses. Users are empowered with the freedom to enjoy seamless gasless transactions while still interacting with layer1 and layer2 solutions. With time, it can be integrated into any Web3 platform with crypto-enabled transactions.

## Developer Perks

Many developers are already leveraging Biconomy and its multi-chain stack, offering a better user experience in Web3 products in de-Fi, NFTs, and gaming, among others. Users are provided with the following:

•	Plug-and-play Application Program Interfaces (APIs) and Software Development Kits (SDKs) – Among the network’s core features are APIs and SDKs that aid developers in building dApps with incredible user experience.

•	Gasless Transactions – With most Web3 apps, users must pay a gas fee for their utility. This cost hinders the mass adoption of Web3 products. As with platforms like Netflix, users do not pay server fees every time they watch movies. Similarly, Biconomy users are free of charge.

•	Multiple Currencies – While most Dapps are built on Ethereum, their dominant payment option is ETH. Biconomy supports multiple tokens and allows users to make payments with their preferred currencies.

•	Simplified User Interface – Interacting with Dapps entails creating blockchain transactions requiring crypto knowledge and technical; experience. In this case, the user interface has been optimized to the highest levels of simplicity.

•	Cross-chain Transfers – It is not easy to make transfers between chains. The inherent multi-chain characteristic facilitates transactions on blockchain arrays and L2s. It also eases communication while securing value from different chains.

## Biconomy Coin Functionality

Biconomy’s native token is BICO, launched last year and runs as an ERC-20 token on the Ethereum blockchain. BICO has the following functions:

•	Network Fees – The re-layer infrastructure network is maintained by node operators acting as validators and executors for settling and verifying transactions. Node operators must pay a transaction fee in $BICO when adding new transaction data on the chain and, in return, earn $BICO based on the work done on the chain.

•	Stakeholder Incentives – BICO holders are entitled to earning passive incomes through staking. The Proof of Stake (PoS) and liquidity pool integrated into the network assert high security and 100% uptime.

•	Network Governance (Voting rights) – BICO holders have the right to vote, submit requests, and feedback that, when incorporated, shape the future of Biconomy's milestones and endeavors. The governance operation model entails participating in numerous activities like changing the network code, adding and removing services, and allocating funds from the treasury.

## Who is building the BICO crypto?

Biconomy foundation dates to 2019 with the following founders: Aniket Jindal, Sachin Tomar, and Ahmed Al-Balaghi. The team comprises Indian nationals with a great passion for blockchain technology. Jindal brings a wealth of knowledge after studying at the Prestigious Fudan University and years of experience working with Binance. Balaghi is a seed founder and investor in Polygon (previously the Matic network). Tamar has been an engineer at Samsung Electronics and an early Ethereum blockchain enthusiast.

According to [BybitLearn](https://learn.bybit.com/), on 21 July, 2021, the trio raised $9 million through private funding led by the Mechanism capital. Other companies, like Coinbase ventures, have also invested in Biconomy. Additional significant fundraising includes the recent October, which totaled $11.5 million through the public sale of BICO tokens.

## Biconomy Price

BICO hit its all-time-high (ATH) price, $21.87, in December 2021. While we have seen significant down trends in the market with the crypto winter, BICO is not exceptional. Looking into January 2021, it had dropped to $3.50, and as of the time of writing, it’s at $0.43995.

Biconomy is platform building for the future of DeFi and adoption for Web3. Each day, it onboards new partners and will reclaim its ATH in the coming days.

## Putting it All Together

The performance of BICO has not been stellar. However, the developmental team demonstrates clear use cases for its outstanding innovations. Biconomy is looking to be a worldwide facilitator for Web3 transactions.




blue image of crypto coins and biconomy logo

What is Biconomy?

Kava Crypto project is of great potential and can transform the DeFi space. But can the project compete with the big boys in Web3?

There is no shortage of DeFi protocols that offer users decentralized collateralized loans. Still, regarding user experience and trust, only a few protocols stand out, including Kava. 

## Kava crypto project recap 

As a protocol seeking to become the de facto DeFi platform in Web3, the Kava crypto project offers its users CDP or collateralized debt positions. This allows users to borrow against their collateral which can be in one or more coins (up to four). Collateral can be in BTC, ATOM, BNB, or XRP. This is where Kava stands out, as it makes it easier for users to take out loans.

## How does lending work on Kava? 

Since Kava is built on the [Cosmos](/news/article/cosmos-crypto-explained) blockchain, users lock their cryptocurrencies on smart contracts deployed on Cosmos. Users can then borrow against their locked assets in the form of USDX. This is the stablecoin of the platform, which is pegged to the USD. Of course, all loans are over-collateralized due to the volatile nature of the crypto market.

If users want to earn interest on their assets, AKA lend them to others, they can do so and earn the interest in the shape of $Kava.

## You can use the platform to:

•	Borrow against your collateral and pay bills, buy things or re-invest that leveraged money (highly risky).

•	Earn interest on your stored assets.

This saves a lot of people from having to liquidate their sets when they need the cash urgently.

## Kava crypto: $KAVA 

The project relies on [Proof of Stake](/news/article/pos-vs-pow) as its consensus mechanism and $KAVA is the Kava crypto’s token. There are currently 320 million $KAVA circulating with no maximum supply. The token’s price is currently trading at the $1 mark (5th December 2022).

Initially a BEP-2 token, now it is living on the Cosmos Hub. [You can earn up to 38% staking $KAVA](https://www.stakingrewards.com/earn/kava/), depending on how many tokens you are staking. Delegation is available and can be done quickly via [Binance](https://www.binance.com/en), which has a validator node running for the Kava project.

## Current challenges 

Although the Kava crypto project completed [the ETH bridge launch](https://www.youtube.com/watch?v=yDQPsCr3RBg), it is yet to release the BNB chain bridge in Q4 of 2022. With the [latest developments in the market](/news/article/ftx-exchange-under-investigation), the project will face hardships in committing to its planned roadmap. So far, the project has successfully put checkmarks on almost all of its milestones, but will it survive through the current bloodbath?

Another concern is [USDX's](https://www.gate.io/blog_detail/1049/USDT--DEI---Kava-Network-Stablecoin-USDX--also-Suffer-Depeg-Amidst-UST-Blood-Bath) de peg last May which is still hurting the project as USDX never fully recovered its peg to the USD 1 to 1. 

Currently, USDX is trading at $0.88, almost 12% less than the USD's value.

The Kava crypto project holds some advantage over its competitors, especially when it comes to the [Tendermint](https://www.gemini.com/cryptopedia/cosmos-ignite-crypto-consensus-tendermint-ecosystem) consensus mechanism. 

However, the DeFi space is only getting more competitive by the day as more protocols deploy creative solutions to attract users. Will Kava’s focus on the long game and its partnerships with Binance and XRP save it from becoming the next victim of this bear market?


Kava Crypto: Does it Stand a Chance in 2023?

[Flow](https://flow.com/) is a new kind of blockchain that's optimised for developers. Its unique architecture enables developers to build scalable decentralised applications quickly. According to [today's crypto brief](https://coincodex.com/crypto/flow/), Flow token is currently ranked [#1 in the NFT Tokens sector](https://coincodex.com/cryptocurrencies/sector/nft/) and #21 in the [Layer 1 sector](https://coincodex.com/cryptocurrencies/sector/layer-1/) in terms of market cap.

The Flow project, as a decentralised platform, was built to facilitate the exchange of goods and services. Flow token is based on the ERC20 standard and is built on the Ethereum blockchain. It uses blockchain power to create a trustless system that allows users to conduct transactions without fear of scams or fraud.

[Flow's token, FLOW](/news/article/trending-crypto-coins), is central to the network and used to pay for transaction fees, gas, and other services. FLOW is also used for staking and delegation and to create new tokens.

The Flow blockchain is powered by a consensus algorithm called "gas". Gas measures the computational resources required to run a transaction or program on the Flow blockchain.

## The team and advisors

The team comprises experienced professionals in blockchain, business, and technology. Co-founder and CEO Roham Gharegozlou leads the team. Roham has more than 15 years of technology sector experience and is a serial entrepreneur. He is also the co-founder of BlockCypher, a blockchain platform that provides APIs for developers.

## Flow tokenomics

FLOW is a utility token created to facilitate transactions on the Flowchain blockchain. It is important to note that the Flowchain is more than just a platform for developing decentralised applications. It is also a platform for the [execution of smart contracts](https://flow.com/feat).
FLOW has several use cases on the Flowchain blockchain.

## Use cases for Flow Token

FLOW is designed for use in a variety of real-world applications. [Some of the most popular use cases](https://flow.com/flow-token-economics) include:
•	Payment processing: Flow can be utilised to pay for things online or in-store.

•	Microtransactions: They can be used to pay for small transactions, such as digital content or in-app purchases.
•	Asset management: They can store and manage digital assets.

•	Data monetisation: Flow can be used to monetise data and create new revenue streams.

## The Flow blockchain roadmap

Flow's aggressive roadmap will release several essential products within the next two years. These products include:

•	A decentralised micro-jobs platform.

•	A universal basic income program.

•	A Dapp Store for decentralised applications.

•	A P2P payments system.

•	An advertising platform.

## Why Flow is the next big thing in blockchain

There are a few reasons [why Flow is the next big thing](https://www.coindesk.com/business/2022/05/10/dapper-labs-debuts-725m-ecosystem-fund-for-flow-blockchain-development/) in blockchain. First, Flow has a solid team of developers who are experts in their field. Second, Flow has a clear vision and roadmap for the future. Third, the Flow token is well-positioned to take advantage of the current market dynamics. Finally, FLOW has excellent potential for long-term growth.

In conclusion, FLOW has [a lot to offer investors](/news/article/trending-crypto-coins). However, the minimum, maximum, and average token prices for the year may be around $7.08, $9.00, and $11.12, respectively. According to some unpopular forecasts, the price for the years 2023 and 2024 may remain the same.



Flow Token: An Introduction

[Uquid](https://uquid.com/) is one of the largest Web3-based platforms, offering physical and digital products. It creates smart shopping experiences for users by bringing the world of e-commerce and DeFi together. 

To enhance customer experience, it has announced integration with the [Polygon network](/news/article/polygon-crypto). The smart marketplace will leverage Polygon’s low fees, high efficiency, and, most importantly, scalability. It will also allow Uquid to employ its vigorous developer ecosystem.

![uquid.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/uquid_fd41c6718c.png)
 
It will allow customers to enjoy another payment method, the MATIC token. In addition, this Web3 market will have access to Ethereum through this integration.

## Shared vision of building eco-friendly platforms

Both Uquid and Polygon share the vision of [sustainability](/articles/our-news/sustainable-future) and environmental preservation. MATIC’s network is known for being the least harmful to the environment. That’s why the smart marketplace opted for its scalable ecosystem to develop its market. Uquid believes that the MATIC network can shape a user-friendly and environment-friendly platform. 

It will not only reduce gas fees for users, but will also allow easy access to cryptocurrencies. Users can also enjoy access to various decentralised apps (DApps) available on Polygon. 

## About Polygon

[Polygon](https://polygon.technology/) is one of the leading Ethereum scaling solutions. It is entirely decentralised and ideal for creating Web3 DApps. The network leverages Ethereum's security and provides high efficiency at affordable costs. More than 53,000 DApps have chosen its scaling solution to build their platforms. Among them, names like Uniswap, OpenSea, and Aave are notable. 

The network is also a leading force in the non-fungible tokens ([NFT](/news/article/nft-art-marketplaces)) market. It has collaborated with numerous key players in the industry, including [Disney](/news/article/matic-disney-collab), Instagram, Adobe, Stripe, and others.

## About Uquid

Uquid is a platform that first introduced the idea of Web3-based smart shopping. It bridges the gap between the DeFi world and e-commerce by offering more than 85 million products. The platform also introduced the concept of a shop-to-earn market.


Uquid Web3 Market Integrates Polygon

Yuga Labs, since its launch in 2021, has become an influential blockchain company that is shaping the Web3 ecosystem. Its service offering has made it popular among non-fungible token (NFT) enthusiasts.

The blockchain company is well known for two of the world's biggest NFT projects - Bored Ape Yacht Club (BAYC) and CryptoPunks. Even though it initially set out to become a global NFT media empire, the company keeps raising the bar. It aims to reduce the limitations in Web3. By building what it calls the "Yugaverse," project owners and creators can interact seamlessly in Web3.

## What are Yuga Labs?

Founded in February 2021 and incorporated in Delaware, United States, Yuga Labs is a blockchain company specializing in creating significant and profitable NFT projects.

The company was founded by two individuals who went by the pseudonyms Gordons Goner and Gargamel. Two engineers, Emperors Tomato Ketchup and Sass, also joined the team.

However, an exclusive by BuzzFeed doxed the real identities behind Gargamel and Gordon Goner. They were revealed to be Greg Solano, a writer, and Wylie Aronow, a former student. The engineers subsequently revealed their names to be Zeshan and Kerem.

While controversies trailed the doxxing, given that anonymity is a major feature of blockchain technology, the founders chose to remain anonymous when the NFT project was launched in April 2021.

Notable among the firms' projects are the BAYC, Mutant Ape Yacht Club (MAYC), Bored Ape kennel Club (BAKC), and CryptoPunks. While BAYC was a pilot project with a unique collection of 10,000 Bored  Ape  NFTs, BAKC and MAYC were launched as spinoff collections in June and August 2021, respectively.

Currently, the company has one of the most dominant NFT projects and is a financially stable company in Web3. [Data from Statista](https://www.statista.com/statistics/1265505/bored-ape-yacht-club-nft-development/) shows that the firm closed 2021 with a sales volume of $ 13,932,950.62.

*Read More About [Dogecoin](/coins/doge)*

### Projects owned by Yuga

Yuga Labs is the backbone behind several blockchain-based NFT projects. These projects include:

•	[The Bored Ape Yacht Club (BAYC)](/news/article/how-to-buy-monkey-nft) - represents a collection of 10,000 Bored Ape NFTs that have grown to become quite valuable and recognizable profile pictures in the crypto industry. With the collection valued at billions of dollars, it currently has a floor price of $106,955.

•	CryptoPunk- are 24 x 24-pixel images that are generated algorithmically. It was earlier unveiled as a fixed 10,000 set of items in 2017 and subsequently became an inspiration for the ERC-721 standard. In March, Yuga Labs [acquired](https://cointelegraph.com/news/nifty-news-yuga-labs-buys-cryptopunks-1inch-wallet-supports-nfts-and-more) the intellectual property (IP) of CryptoPunks.

•	The Otherside - represents a Metaverse platform with a user- experience that has a non-linear structure. The platform allows players to explore the virtual world in its entirety.

## The future of Yuga Labs

It can’t be denied that NFTs play an important role in the technology industry, both as a means of ownership and investment.

Since its inception, Yuga has shown promising attributes. Its thirst to become the future of the Metaverse shows that the company will keep meeting investors’ expectations.

Despite reports that the US [Securities and Exchange Commission (SEC)](/news/tag/sec) is investigating the company over allegations of unregistered offerings, its projects are interesting and should be watched closely for more developments.
 
 


Yuga Labs Explained

Japanese mobile operator [NTT Docomo](https://www.docomo.ne.jp/english/) is one of the leading names with the largest market share in the country. It has decided to work with the multi-chain [smart contract](/news/article/smart-contracts-blockchain), Astar Network. The partnership is likely to help establish a Japan [web3](/news/article/web3-games-raised-millions) consortium. 

This initiative aims to provide crypto users with an opportunity to use tokens for governance and will promote the adoption of web3 infrastructures.

## Transforming Japan's web3 ecosystem

The joint forces of NTT Docomo and [Astar Network](https://astar.network/) will focus on solving societal problems, especially environmental ones. Implementing a Decentralised Autonomous Organisation ([DAO](/news/article/daomaker-guide)) will be the primary goal.
 
These firms will use this iteration of web technology to bring forth solutions for environmental problems and regional development. They plan to analyse the available case studies in this area and formulate a roadmap to enhance technology use further. 

Docomo brings an in-depth knowledge of societal problems. On the other hand, Astar's platform has the developing next iteration of the internet's infrastructure that can be deployed for transformational blockchain projects. It will help fill the educational gap for the usage of cryptocurrencies and promote web3 adoption. 

## Views of Astar's CEO

Sota Watanabe, the CEO of Astar, believes that in the context of web3 adoption, more projects introducing infrastructures with better user experience and accessibility are essential. Moreover, he also maintained that this technology should not only be for professionals and developers. Instead, the general public should be able to benefit from it. 

Japan is currently focusing on the promotion of digital assets in the country. The Ministry of Economy, Trade, and Industry (METI) is working to strengthen the industry. For this reason, they also introduced [tax reforms](/news/article/crypto-tax-japan-reforms) for crypto users. With the establishment of a web3 consortium, the country will be moving further towards mainstream adoption of crypto assets. 




NTT Docomo to establish Japan’s web3 consortium

Solana announced several launches during the ecosystem's yearly gathering at Breakpoint 2022 in Lisbon as it prepares to enter the mainstream. During the conference, the company unveiled its roadmap, which includes the introduction of smartphones, [partnerships with Google Cloud](https://coinculture.com/au/business/solana-announces-google-partnership/) and decentralised application stores (dApps).

## Latest Solana crypto news: 

### 1.     Smartphone launch

The [Solana](/news/article/solana-phantom-wallet-guide) mobile team stated, "It's made for the people" when announcing the release of its smartphones. According to the sources, pre-orders for smartphones will start in 2023. The company still needs to make the official date public.

The smartphone stands out for its ability to securely store crypto [wallet](/news/article/best-ethereum-wallet) secret keys. A Qualcomm processor with an Arm-based system-on-chip (SoC) will power the smartphone, enabling increased productivity.

### 2.	Google to become a Solana node validator soon    

Google stated that it would run a block-producing Solana validator enabling it to participate in and validate the network.
In addition to joining the ecosystem as a validator, Google Cloud has collaborated with the company to integrate its [Blockchain](/news/article/what-is-blockchain) Node Engine.

Google Cloud's Blockchain Node Engine is a fully managed node-hosting service that eliminates the need for complex node operations. Previously, the service provided turnkey node hosting for Ethereum and its burgeoning developer ecosystem.

Including Solana in the Blockchain Node Engine will significantly cut the time required to run a Solana node, making it available to a wider range of users.

The company also disclosed that it is currently indexing and bringing network data into BigQuery.

### 3.	DApp store to enhance Web3 user experience

The company announced the launch of the dApp Store in preparation for [Web3](/news/article/what-is-web-3.0-crypto) disruption. 

On the latest Solana crypto news, SOL- the native token rose more than 15%.



Solana crypto news: Google becomes Solana validator

[VeeFriends](https://veefriends.com/) has grown to be one of the largest NFTs in volume and community size since its launch in 2021. The founder, Gary Vaynerchuk, also known as GaryVee, became well-known by investing in start-ups experiencing rapid growth. In 2021, he was among the first people to show interest in the NFT market and the potential of Web3.

GaryVee's project, VeeFriends, was launched in 2021 to unite like-minded NFT collectors and celebrate each collection's unique human traits. It was one of the first promises of IRL utility for an NFT, as it doubles as a VeeCon ticket.

VeeFriends and Vaynerchuk have since grown to other NFT collections, but VeeFriends Series 1 remains the most popular and valuable.

## VeeFriends NFT: What is it?

GaryVee's VeeFriends was founded to build a community around Gary's business and creative passions through NFTs. Now, it is one of the most successful NFT membership use cases.

VeeFriends is the umbrella name for GaryVee's NFT collection, which debuted on Tuesday, 11 May, 2021. The VeeFriends brand includes Mini Drops, Book Games, and a large-scale "Series 2" collection, all of which stem from the initial drop of 10,255 VeeFriends tokens.

Within the first collection, or "Series 1," there is a special set of tokens known as G.O.O. (Gary Originally Owned). GaryVee reserved 1,242 tokens (more than 12% of the supply) for his collection, implying that only 9,013 NFTs were initially available.

Each token in the Series 1 is based on one of 268 characters created by Vaynerchuk as representations of human traits that he admires. Gary Vee's NFTs also provide their owners with a variety of benefits.

## VeeFriends Series 1

Series 1 consists of 10,255 NFTs divided into 268 characters. The collection is divided into three levels: Access (300 NFTs), Gift (555 NFTs), and Admission (9,400 NFTs). Of these, 1,242 NFTs belong to Gary and are labelled Gary Originally Owned (G.O.O.), making them more valuable than others.

All of the NFTs in this collection have human characteristics that Gary admires and believes can bring happiness. The Admission NFTs are classified into five rarities: Core, Rare, Spectacular, Very Rare, and Epic, with Epic being the rarest. 

Like most others, each Admission NFT in this collection has amusing animal names such as Karma Kiwi, Keen Kingfisher, Quick Quail, Zestful Zebra, Confident Cobra, Conviction Cockroach, and so on.

Courtside Cat, Keynote Koala, Poker Pirate, Shadow Me Scorpion, and other names are used for Access NFTs. These Access NFTs are utility NFTs that provide Gary with one-on-one access on various occasions.

This collection is available on [OpenSea](/news/article/nft-hackers-passports) for purchase or acquisition using ETH, WETH, DAI, and USDC. 

## Book Games NFT collection

The Book Games were released in August 2021. The Series 1 collection was minted on [Ethereum](/news/article/the-merge-ethereum-nft-impact) (layer 1), whereas the Book Games is a layer 2 NFT minted on Immutable X (an Ethereum layer 2 chain) to reduce gas fees. The game's scope was inspired by his book "Twelve and a Half," making it a valuable tool in the VeeFriends ecosystem.

He used the game to incentivise his community to buy copies of the book in order to receive NFTs because he linked his book to the ecosystem. This collection, according to Gary, contains 125,000 burnable game tokens, and the game can be played indefinitely.

An airdrop announcement stated that for every 12 books ordered by any user during a one-day promotional period, the buyer would receive one NFT. Gary used this strategy to sell one million copies of the book in less than 100 days.

The Book Games collection is divided into three categories: Attributes, Spectacular, and Token Frame. The Spectacular divisions are the same as in Series 1: Bubble Gum, Diamond, Gold, Hologram, and Lava.

Accountability, Ambition, Conviction, Curiosity, Empathy, Gratitude, Humility, Kind Candor, Kindness, Optimism, Patience, Self-awareness, Tenacity, and Special are the 14 attributes that the book's character may drive.

## Mini Drops 

According to Gary, VeeFriends Mini Drops is a sub-collection of VeeFriends that focuses on collaboration, scarcity, and cultural longevity. It is a limited-edition collection distributed to Series 1 collectors as an airdrop.

## VeeFriends Series 2

Series 2 is a massive collection of 55,555 NFTs derived from Series 1. Series 2 includes 236 characters from Series 1 and 16 new characters, totalling around 252 characters. Except for Gift Goat, each character in Series 2 has a total supply of 220 NFTs, with the exceptional Gift Goat having 555 1/1 NFTs.

Series 2 has 76 backgrounds, nine poses, and eight spectacular characters, compared to Series 1's five and one property (984 G.O.O.). Emerald is the first of these Spectacular characters to be revealed, followed by Bubble Gum, Hologram, Diamond, Lava, Gold, and another yet to be announced.

The opportunity to mint Series 2 at 0.335 ETH plus gas costs was given to community members who already owned Series 1 and Book Games. Holders of Book Games (also known as Friend list) received 32,000 NFTs, and the Series 1 holder received 10,255 NFTs. Each collection was given a specific number of NFTs.

On 18 April, 2022, 10,000 NFTs worth of unminted coins was added to the public supply. The 16 newly added characters, totaling 3,300 NFTs, were minted on 27 April, 2022, after the public minting on 25 April, 2022.

## Bottom line

VeeFriends has become one of the market's most influential and distinctive NFT collections. Gary Vee worked hard to establish his name in the [Web3](/news/article/web3-games) industry by meticulously attaching real-world utilities to his NFT collections.

In addition to the projects mentioned above, Gary hosted a special conference in Minneapolis from 19-22 May 2022. The speakers included well-known individuals like Steve Aoki, Danny Cole, Kevin Smith, and Beeple.

This also gave rise to VeeCon, a different NFT ticket that served as a pass for the event to which community members were already granted access. Except for the Book Games, which can be found on VeeFriends and TokenTrove, all of Gary's collections are accessible on OpenSea. The [NFT](/news/article/prime-ape-planet-nft) collection commands a high premium price, as it is associated with GaryVee.





VeeFriends NFT: A Comprehensive Guide


It is suggested that Web 2.0 is used by 3 billion people every day and occupies 80% of their waking hours. At its most basic, Web 2.0 is an online experience that emphasises user-generated content, ease of use, participatory culture, and interoperability (compatibility with other goods, systems, and devices) 

It is also referred to as participative (or participatory) web and social web. 

Web 2.0, notably between 1999 and 2004, shifted the world away from static desktop websites. These were sites built for information consumption and provided from expensive servers. It moved them to interactive experiences and user-generated content, giving us Uber, Airbnb, Facebook, and Instagram. 

It was fuelled by three fundamental layers of innovation: mobile, social, and cloud. 

 

## Web 3.0 Is The Next Step 

For the Internet, Web 3.0 is the next evolutionary step. It is expected to be the monopolistic digital dominance of major corporations and governments. 

Web 3.0, or [Web3](/news/tag/web-3.0-tag), is a decentralised online environment built on the blockchain at its most fundamental level. Users will own platforms and apps developed on Web3 rather than a central gatekeeper. Users earn their ownership stake by creating and maintaining those services. 


## It’s Easy as 1.0, 2.0, 3.0 

Since the early days of the original Web 1.0 in the 1990s, the Internet has evolved. It moved to Web 2.0, and Web 3.0 is next. 

Moving from Web 2.0, the Internet of today we are all familiar with, to the next phase will be enabled by [blockchain technology](https://www.investopedia.com/terms/b/blockchain.asp). 

Web 3.0, also known as the “read-write-execute” Internet, allows users to browse, produce, and publish content and directly execute intelligent contracts with one another. 

That this new Internet is decentralised is one of its most prominent qualities. It allows websites that are not hosted on servers or in data centres. Instead, everything is powered by [blockchain](/news/article/what-is-blockchain), the distributed ledger. 

The system offers improved security. The critical information hackers seek, such as credit card numbers or passwords, isn’t stored in a single central place. 

The fundamental difference between Web 1.0, 2.0, and 3.0 is the level of involvement between users. Users were confined to viewing static pages with Web 1.0. Users could produce and distribute their content with Web 2.0. Web 3.0 allows users to engage directly by executing smart contracts. 

It will result in a far more democratic Internet; an Internet where users have more control over their data and its use. 


## Why Does Web 3.0 Matter Now? 

Web 3.0 lays the groundwork for a future in which distributed individuals and computers interact with value, data, and other counterparties without third parties being involved. This is thanks to the peer-to-peer network foundation. 

The end product is a modular, human-centric, privacy-preserving computer fabric for the next web wave. 

 
 ## Advantages of Web 3.0 

 
### No Single Point of Control: 

Because intermediaries are eliminated, blockchains such as [Ethereum ](/coins/eth)provide a trustless platform with unbreakable rules and fully encrypted data. No corporation, and no government, will be able to shut down websites or services, and no single person will be able to manage other people’s identities. 

### Data Ownership: 

End users will recover total control of their data while also benefiting from encryption security. On a case-by-case and permission basis, information can then be shared. Big firms like Amazon and Facebook now have servers keeping data on dietary choices, income, interests, credit card numbers, and other personal information. It’s not just about improving services; marketers and advertising pay billions of dollars each year for the info. 

### New Beginnings: 

Other experts believe that Web 3.0 will begin from scratch. Rather than using HTML as the primary coding language, it will rely on an unidentified new language. According to these experts, it may be easier to start from scratch rather than improve the current Web. However, this form of Web 3.0 is so theoretical that predicting how it would work is nearly impossible. 

You can read more guest articles at [brendanbeeken.com](https://brendanbeeken.com/). 

What is Web 3.0 in Crypto?

The latest Shopify news involves the [e-commerce platform's partnership with Novel](https://www.novel.com/post/novel-has-landed-in-the-shopify-app-store), a no-code Web3 commerce platform, to make Web3 technologies more accessible and approachable to all merchants.

[The Novel](https://www.novel.com/) is a commerce platform powered by [Web3](/news/article/uquid-web3-integrates-with-polygon) technology. According to the partnership, the company will release an app that will provide merchants with the necessary features to immerse them in the Web3 experience.

In Shopfy news, commerce platform Novel launched an app in the Shopify App Store as part of the partnership. It gives existing vendors the tools they need to try out Web3 technologies in e-commerce without having to learn new skills or spend a lot of time and money.

The Novel Shopify app's primary functions are minting and distribution, and utility.

The minting and distribution feature allows users to create artwork for a new collection of NFTs or upload artwork from an existing series. The app then utilises [smart contracts](/news/article/smart-contracts-blockchain) over the collection and sells them to users via the Shopify storefront. When a customer purchases an NFT, the app will automate the currency bridge and create a cryptocurrency wallet for that customer.

On the utility front, Novel enables token-based utility on merchants' Shopify storefronts, including brands and creators. This covers ERC-20 gating, cross-chain gating on [Solana](/news/article/solana-price-gbp), Ethereum, and [Polygon](/news/article/polygon-nft-drops-2022), token-gated discounts, URLs, and products.

Sharing the details, Novel's CEO and co-founder said that by collaborating with the e-commerce giant, they could leverage the leading platform and provide merchants with the tools they require to enter the advanced ecosystem.

The Shopify Novel app is an all-in-one tool that allows retailers to add use cases to their NFT collections via token-gating.

## Web3 ecosystem - The new goldmine

Novel CEO Roger Beaman, commenting on the Shopify news, said the partnerhsip will allow them to infuse Web3 capabilities into the already-built ecosystem. In this way, they meet the fundamental needs of merchants interested in joining the ecosystem.

One of the new app's tools is the token gating feature, which allows merchants to add use cases to their platform collections. This feature will let merchants take advantage of many of the platform's benefits. They include gateways for chains such as Ethereum, Solana, and others.

Over the last few years, businesses have started moving into the Web3 ecosystem. This is because most traders are embracing new technologies, and companies are looking for ways to help them make money.


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