It's barely been a decade since the launch of Web3, and some are already talking about the next generation of the web — Web5. The concept of Web5 first emerged earlier this year with Jack Dorsey’s announcement about plans to build a decentralized web on Bitcoin's blockchain through Block subsidiary TBD. According to Dorsey's TBD white paper, Web5 will be “a trustless, decentralized internet platform where users own their data” as opposed to Web3, which is mostly centered around Ethereum and a select few centralized blockchain networks. It's easy to see why there is a need for change, but is …

In the South Pacific, the island nation of Tuvalu decided to turn to Web3 technology in order to make sure its culture and society are preserved in the future. On Nov. 15 the country’s foreign minister, Simon Kofe, told the COP27 climate summit that it is looking for alternative ways to protect the county’s heritage against rising sea levels brought on by climate change. One of those ways is through recreating itself in the metaverse. As highlighted by Minister Hon @Simon_Kofe in his speech to leaders at #COP27 we have had to act. As rising sea levels threaten to submerge …

Charities accepting crypto donations are setting themselves up for an entirely new demographic of funders — who just so happen to be one of the most giving, according to charity organizations. Alex Wilson, the co-founder of The Giving Block, a crypto donation platform providing back-end support to charities, told Cointelegraph that the crypto community is still a market many charity organizations have nointeracted with. The top charity organizations in the world by funds received including United Way Worldwide, Feeding America, and UNICEF. All three of them accept cryptocurrencies as a means of donation. The Giving Block co-founder said the crypto …

The inaugural edition of the GAM3 Awards — a new web3 gaming awards event hosted by Polkastarter Gaming — is set to take place on December 15, according to an announcement provided to Cointelegraph on Nov. 14. Awarding the best gam3s 16 categories. 30+ industry leaders. $300k prizes. 15 December 2022. Save the date. Voting starts soon ⬇️https://t.co/p0niqHYzHw pic.twitter.com/8n0ArqZXS1 — GAM3 AWARDS | 15th Dec (@PolkastarterGG) November 14, 2022 The awards ceremony intends to recognize this year’s best web3 games, highlight the developers behind them, and showcase blockchain as a net plus to the gaming industry. In the announcement, the …

Web3 is uprooting traditional entertainment industries with a new way of creating and engaging with digital content. The industry has already seen nonfungible tokens (NFTs) display the potential to transform how television scheduled programming can be created. Increased metaverse activity began challenging artists with new possibilities for performances and connectivity with their fans. All the use cases of Web3 technology upgrading the future of digital entertainment include one key component: ownership. Ownership is one of the defining characteristics that distinguishes Web3 activity from its predecessor. According to professionals in the industry it will also be a defining characteristic not only …

Musicians and executives alike have seen the power of Web3 tools such as nonfungible tokens (NFTs) to transform audiences into active communities with fewer barriers between artists and fans. Recently, the crypto-savvy Snoop Dogg partnered with country music stars Billy Ray Cyrus and the Avila Brothers to create an NFT experience that crossed genres and created new communities in the process. While Snoop may be a veteran in the space, many musicians find the Web3 world a whole new frontier. Cointelegraph spoke with Bernard Alexander, the head of IP at the company Animal Concerts which facilitated the aforementioned NFT collection, …

On Nov. 11, NFT Steez, a bi-weekly Twitter Spaces hosted by Alyssa Expósito and Ray Salmond, met with Thomas Webb, the founder of the interoperable avatar game Worldwide Webb, to discuss the integration of interoperability in Web3 and the Metaverse. By definition, interoperability is a feature of Web3 whereby a product or system can work seamlessly across platforms with other products or services. Webb defines interoperability simply as "creating a token— a nonfungible token (NFT)" since, at its most basic level, no one can control it besides the creator. But how does interoperability function presently in Web3, and what is …

Attention is the lifeblood of Dogecoin (DOGE) and other memecoins. Much like earnings drive the price of corporate shares, the size and quality of attention captured by memecoins drive their price action. Successful crypto traders understand that DOGE and its kin are not just chips in the “great shitcoin casino” but are, in fact, tradable derivatives of human attention. They are tradable assets backed by zeitgeists. Trading memecoins isn’t just about spinning the wheel but about weighing the coin’s valuation against the amount of attention it’s receiving. As crypto influencer Cobie said, “Smart traders start selling as ownership and valuation …

Crypto-focused fintech company Ramp has raised $70 million in venture capital, upping its pledge to continue building a unified payment experience for digital assets. The Series B investment round was co-led by venture firms Mubadala Capital and Korelya Capital, Ramp disclosed Wednesday. As reported by Cointelegraph, Ramp raised $53 million in a Series A funding round that closed in December 2021, bringing its total capital raise to roughly $123 million. Ramp’s management said the new funds would go toward improving its product line, expanding into new locations and increasing the number of fiat currencies and payment methods offered. Ramp’s primary …

While many nonfungible token (NFT) projects continue to suffer losses due to the bear market, a number of organizations have begun using NFTs to solve real-world problems. In particular, NFTs for subscription/membership-based models, or loyalty programs, are gaining traction. This point was highlighted in Forrester’s 2023 NFT and metaverse predications report, which notes: “Brands will pivot from ‘cool’ non-fungible tokens (NFTs) towards loyalty. In 2023, brands will shift their focus to NFTs linked to loyalty, brand experience, and deepening customer relationships.” Indeed, NFT use cases such as these are being implemented today. For example, Starbucks recently announced an NFT-based loyalty …

NTT Docomo, Japan’s largest mobile operator with over $40 billion in annual revenue, partnered with multi-chain smart contract platform Astar Network to accelerate the Web3 implementation in the country. The joint effort will take the form of a consortium, which would give individuals and corporations the ability to utilize tokens for governance. According to a press release from Nov. 9, Astar Network and NTT Docomo have also specifically agreed to collaborate on three fundamentals. They will pursue sustainable development by researching case studies for environmental issues in Web3, try to eliminate technology gaps on the road to wider Web3 adoption …

Nonfungible tokens (NFTs) are giving Web3 communities the tools to transform user participation. The Web3 world has been watching NFTs grow up. These digital assets have evolved from hype-centered digital art collections to utility-focused tools building the next generation of the internet. One of the most important utilities of NFTs is that they are increasingly used as the key to communities of the future - both digital and physical. This is also true when it comes to existing communities, be it fan clubs in sports and music or legacy brands. These incentivized digital assets can take passive fandoms and turn …