It’s hard to believe that 2022 is the year that saw NFTs being sold for 100s of millions and Bitcoin reach all-time highs of around 60,000 USD. While at the same time being the year that saw multiple crypto companies crumble, including the infamous collapse of FTX, and causing Bitcoin to fall to 16,000 USD wiping out hundreds of billions from the crypto market cap. It is simply a year that the Web 3 world will never forget.
There were many downs in 2022. However, there are also a lot of positives that happened to the Web 3 world. For instance, unstable companies such as Three arrows capital, LUNA token and FTX went bankrupt and were removed from the ecosystem. And this caused the industry to mature by putting high priorities on compliance. Furthermore, this process has highlighted the importance of providing functional business utilities through tokens and NFTs in the Web 3 world.
It is for those reasons that Metavsummit continues to make it a priority to attract the builders of Web 3 & the Metaverse to Dubai’s investors & strategic partners. Metavsummit has shown the world that gamification of business through VR, AR and NFTs can be a wonderful value-add for customers that can make the experience enjoyable and memorable. By bringing together the top companies of the Web 3 & Metaverse industry to Dubai, such as Undead.com, Gaia Everworld, Metaverser and Dancing Seahorse, the world can have a better understanding of how business will be done in the future. Moreover, the event continues to help build a sustainable and long-term thinking industry that enables true decentralized technology for our world.