As worldwide interest in cryptocurrency grows, so do the conventions dedicated to the sector. One of the largest and longest-running crypto-focused events, the 2022 Consensus festival hosted by CoinDesk, will take place June 9-12, 2022, in Austin, Texas, and is expected to feature all sides of blockchain, crypto, Web3, NFTs and the Metaverse. Consensus aims to create a one-of-a-kind experience on how crypto is remaking the worlds of finance, investing, culture, entertainment, marketing, governance and more.
For four days, thousands of attendees will get the opportunity to listen to more than 400 speakers from the industry. There will also be networking events scheduled throughout the festival, allowing more intricate connections to be made amongst guests, speakers and over 250 sponsors. Tickets for the event are still available at https://www.coindesk.com/consensus2022/.
The cryptocurrency industry changes constantly, and so do the power players in the market. For example, Coinbase (NASDAQ: COIN), a leading cryptocurrency exchange platform in the United States, has made history as the first cryptocurrency company to break into the Fortune 500. Despite the recent struggles to meet analyst expectations, the company achieved significant results in 2021, catapulting it onto the prestigious list at number 437 (https://ccw.fm/3v7pz).
Although 2021 seemed to be a good year for the crypto industry, the start of 2022 has proven difficult for most of the market. With Bitcoin’s market cap lingering around $1.31 trillion and a devastating crash of the Terra stablecoin – the industry seems to be stuck in a holding pattern, waiting for the next shoe to drop. Even with such a gloomy overcast on the crypto world, not all venture capitalists are using the same wait-and-see philosophy.
Silicon Valley venture capital firm Andreessen Horowitz has closed on its newest crypto fund ($4.5 billion), doubling its previous funding round. The fund highlights the widening interest of the firm’s limited partners in increasing their exposure to crypto startups. The firm has specified that one-third of this massive fund will be specifically earmarked for seed deals exclusively. One area of general interest is the Web3 future – which many are willing to spend the funding for despite recent turbulence in the industry (https://ccw.fm/Nlg7e).
The Web3 protocol has been in the making and on the radar of venture capitalists for quite a while. Back in the fall of 2021, Chris Dixon, a partner of Andreessen Horowitz, wrote: “We are now at the beginning of the Web3 era, which combines the decentralized, community-governed ethos of Web1 with the advanced, modern functionality of Web2.”
The Web3 concept will take the power of the internet out of the hands of the big tech companies and place it back into the hands of the users utilizing blockchain technology (https://ccw.fm/KZosa). Like cryptocurrency decentralizes finance, the Web3 protocol would decentralize technology – taking the ownership of the internet out of the hands of big companies like Google/Alphabet Inc. (NASDAQ: GOOG), Amazon.com, Inc. (NASDAQ: AMZN), and Facebook/Meta Platforms, Inc. (NASDAQ: FB), leading to the creation of what proponents describe as an egalitarian internet.
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