17/05/2024
Blockchain, Metaverse and Web 3.0
16 May 2024 at Singapore Fintech Hub
Institute of Blockchain Singapore (IBS) and SG Fintech Club organized a blockchain panel, attended by fintech professionals.
Cathy Que (IBS Director of Partnerships) moderated the session, who recounted her experiences transitioning from Web 2.0 to Web 3.0, with increasing number of games with Metaverse theme such as Roblox launched. The three panelists - Belinda Lim (Sandbox), Daniel Yeo (Tang Global Technology) and Jiren Yeo (Gravity) offered their expert insights too.
Sandbox is a leading blockchain project with many partnerships such as DBS. Belinda emphasized that Web 3.0 games allow gamers to directly own in-game assets, and enable trading of those assets with other gamers without going through the game developer. Payment is obviously an important pillar in the Metaverse and infrastructure/regulation on fiat and crypto-currencies are key to develop this sector.
Tang Metaverse is a virtual world where businesses can interact and transact seamlessly in eight realms representing different sectors such as retail, food & beverage, travel and hospitality etc. User experience augmented by AR, VR and XR will enhance the process and broaden new way of sales and marketing. Dan who is leading the project noted that blockchain security is an important consideration and this is still an evolving area.
Gravity is a Korean company publicly listed on the NASDAQ. The company produces popular games such as Ragnarok and is exploring new offerings in Web 3.0. Leading the business development, Jiren opined that blockchain is not a solution for all types of businesses but it can be useful for community building, a key aspect for gamers.
In general, the panelists agreed that this is an exciting space to be in and more developments will happen quickly. This is the first of the three parts Blockchain talks, and the second one focusing on decentralized finance (DeFi) will take place on 15 August. Stay tuned!
