Spawn Cohort 2 Research Topic: Measuring the growth of Web3 in emerging markets and its importance for such countries Wyatt Johnson
Spawn Cohort 2 Research
Topic: Measuring the growth of Web3 in emerging markets and its importance for such countries
Wyatt Johnson
How Can We Measure The Growth of Web 3?
We can do this by analyzing many models of data which may include various important asset classes, which may include ordinals, NFT”s crypt trading volume, Dex’s, or specific protocols on Web 3 such as POAPs, rabbit hole, ect.
There are many emerging markets in Web 3, and it’s amazing to see the rapid growth of new wallet users in the social aspects of Web 3. Although NFT’s are great to secure assets, humans are social creatures, and if there are no social aspects in Web 3 or proof of social growth in Web 3, then the greatest experiment of humanity ends with NFT’s. However, both are true as social integrations of Web 3 are showing growth with the increases of new wallet users of the two most popular SBT protocols explained below.
Currently the two most popular social tags in Web 3 are POAPs and Galxe’s OAT(On Chain Achievement Tokens). POAPS(Proof of Attendance Protocol) are verified on the x-dai sidechain. The xDai chain is an Ethereum-based sidechain that uses a Proof-of-Stake mechanism. It has been live since late 2018 and uses a stablecoin, xDai, as its native cryptocurrency. As the project's site puts it, transactions on the xDai chain are “very fast, very inexpensive, and require a single token (xDai).” However, these chains are not part of Earth's layer 2 chain as this chain relies on its own security. The Galxe badges are distributed when attending an event such as POAPS.
The differences between POAPs and Galxe are that Galxe serves as more of a record of your life achievements(IRL Achievements) on the blockchain which allows developers to build and distribute their achievements while POAPs are more of a bookmark of your life and show your identity to others based off of the badges you have collected. As the aggregable data shows, these two chains are dominating the SBT distributables and proves the importance of SBT’s in the emerging socialized assets of Web 3. As with NFT’s we have the digitization of asset classes, our social identities are now becoming verified on chain through our activities and achievements that we participate in. Why does this matter you may ask? With the advancement of on-chain verifications and the inevitable linkage of human life and AI, humans are now placing their energy in our digital realities to enhance our traits and enhance our effectiveness of containing entropy within society. As we have had to maintain physical records and visualized accounts of attendance or memory, we can now verify our experiences that tell everything about what we like, value, ect. Directly linked on a chain in a trustless system. Although the fast analytics are fine, the accuracy of why Web 3 exists and its advancement must also be explored to understand why Web 3 is important in its entirety, worthwhile of our efforts on a large project in the hopes of increasing its digital ecosystem and interoperability.
Globalization has never been more eminent, ever more ironically complicating the issue that we have two antithetical ideologies of democracy vs authoritarianism. Whatever wins will have the final say on the future of Web 3, however, we all know that the blockchain is inherently democratic in its roots, thus opposing authoritarianism in any form simply based off of the blockchains mission of democratizing all functions and capabilities of the human race. In spite of this, Web 3’s progress has been influenced by countries all over the globe, each adding a unique percentage of influence based on its economy and values of the citizens in the province. However, it must be duly noted that the absence of broadband is correlated with the restrictions or incapabilities of internet access is a current problem in many countries, although Star Link is enhancing rural connectivity to broadband.
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As we can see from the data, the United States has the top Web 3 cities in terms of available Web 3 jobs, along with Singapore and London topping the charts. However, it would be adequate to analyze how each country is contributing to the ecosystem based on the leading geographical provinces. We can categorize the countries in four categories as their stances and impacts on Web 3. North America has the largest Web 3 market by far hence the billions of dollars poured into developing it’s infrastructure by major players like Meta and Microsoft.
Break down topics and bring the question up and have data to support
The emerging markets can benefit from the creator economy because it can be legitimized from digital verification.
Creator economy will increase verticals producing more income for their countries and have more jobs for the workforce and it incentivises the creator economy for emerging countries.
Try best not to verify biases Once you have an idea, don’t try to verify biases. There are other things and not be fluid with an idea and so it can change. Go out and speak with others. See the real info and if not move positions.
Creator Economy