13 Predictions for Web3 and the Metaverse in 2023Dec 30, 2022·Last updated on Dec 30, 2022
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By Sandy Carter, SVP and Channel Chief of Unstoppable Domains and Founder of Unstoppable Women of Web3
As SVP of Unstoppable, I have the unique privilege of getting to learn from some of the most brilliant minds in Web3 and the Metaverse, including Unstoppable customers, partners and beyond. Through these conversations and my own observations, I’ve gained perspective on where Web3 and the Metaverse are going. Every year, I love to publish where I see the tech industry heading in the months to come. It’s a tradition for me!
A rule of thumb for predicting is that when it comes to inputs, the more you have, the better. I based these predictions on a diverse set of views, reading voraciously to hear all opinions and thoughts, and by listening to our Unstoppable customers and partners about what’s important to them.
Here are my 13 predictions for 2023!
Digital Identity is the gateway to the Metaverse. Web3 digital identities will start to be as ubiquitous as email, giving people an identity across Web3 that they own and control. Easy names instead of wallets will be widespread onboarding points.
Blockchain gaming comes out of the basement and into the boardroom. Games showcase the capabilities and potential of decentralized technologies like blockchain and smart contracts, and we’ll see even more gaming companies adopt these new technologies.
Metaverse grows over traditional ad spend. Many companies are starting to understand the power of the Metaverse. As a former CMO with over a decade of experience, I expect to see more budget go towards capturing the awareness of younger generations through the Metaverse.
Web2 companies bifurcate. In Web3, you are either in or you’re out. We’ve seen strong moves in Web3 from companies like Starbucks, Nike, Prada, and IKEA. I believe forward-looking people will be drawn to the companies that can fully articulate their plans and vision for building in Web3.
Safety and security become focal points for companies and customers alike. With all the headline hacks and rugs that have happened in crypto over the last year, security will matter more. Custody will be reimagined.
Web3 will become invisible. In every technology cycle, first the tech is talked about, and then it’s all about the outcome as it matures. By the end of 2023, there will be more discussion on customer experience than on Web3. People will talk about Web3 without even mentioning Web3.
AI and Web3 become best friends. Combining the capabilities of AI with the security and decentralization of Web3 technologies will yield new value and use cases. For example, Unstoppable is now using AI to help people brainstorm new domain names.
Utility > hype becomes a mandate. In 2022, the bear market helped weed out some of the hype, but in 2023, utility will win as companies with true value outperform the rest.
Web3 rewards will drive niche-based communities. With Web3 reward systems growing, smaller and more focused communities will form tighter bonds and have the most impact. Web3 Platforms, SDKs, and rewards programs/aggregators will grow more robust and diverse as developers seek APIs and open source tools to build out feature-rich, user-friendly dapps.
Avatars empower the Metaverse. Avatars will become more lifelike and usable to increase the user-experience of the Metaverse. Eventually, everyone will own their avatars.
Diversity breeds innovation. Women, people of color, and a whole range of people from diverse backgrounds will have more influence on Web3 and the Metaverse than they did in the Web2 world.
CGZO and CWMO. New titles like Chief Gen Z Officer and Chief Wellness Metaverse Officer will emerge to influence the next generation and ensure people are using Web3 and the Metaverse responsibly. (I actually met two Chief Wellness Officers at the Metaverse Summit in Paris, and three Chief Gen Z Officers at Art Basel!)
Metaverse social norms. With increasing adoption of the Metaverse, social norms and best practices will be developed. People will begin to spend more time in virtual worlds and interact with others in new ways. Examples of social norms include the expectation that users will respect the privacy of others by not engaging in activities considered inappropriate in the physical world. Users might also be expected to adhere to certain norms of dress or appearance, or to follow rules and guidelines that have been established for specific virtual environments or activities.
What are your Web3 predictions for next year? Let me know on Twitter @Sandy_Carter. I’m always looking to chat Web3!