Web3 Evolution Shifts Focus to Practical Problem-Solving

The evolution of Web3 is marked by a shift from speculation-driven excitement to building sustainable products that solve real problems, according to Arman Mamyan, Co-Founder and Chief Operating Officer at Animoca. He notes that builders are now using blockchain as financial infrastructure, identity infrastructure, payment rails, settlement layers, and ownership systems, leading to a more practical approach.

Mamyan emphasizes the complexity of integrating blockchain with real-world systems, including existing banking infrastructure, compliance, custody, identity, accounting, legacy systems, regulations, internal security policies, and user expectations. He stresses that companies should not try to introduce Web3 as a separate universe but instead integrate it into existing systems and behaviors.

The biggest gap in Web3 development is still usability combined with responsibility, Mamyan believes. While blockchain technology offers incredible financial control, it also comes with significant responsibility, which many consumers are unwilling or unable to handle.