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Web2 companies entering the Web3 ecosystem face challenges, as success in traditional industries doesn’t guarantee smooth transition. Porsche’s NFT project struggled due to lack of transparency, confusing minting process, and poor marketing, while Reddit succeeded by integrating Web2 elements and providing accessible NFTs. Collaboration with Web3 native experts is key for successful ventures.

AI and blockchain technology have the potential to join forces and revolutionize Web3, enhancing user engagement, personalizing onboarding processes, and strengthening security. By simplifying blockchain use cases, AI can help onboard 1 billion users and create a stronger future for Web3.

The Oracle’s Verse, a unique “crypto novel,” allows multiple writers to contribute to an ongoing story by selling their creations as evolving non-fungible tokens (NFTs). This innovative concept offers a decentralized alternative to traditional novel writing, providing passive income and instant publication on the blockchain, but raises questions about long-term narrative quality and consistency.

Basketball star LeBron James sported limited-edition RTFKT x Nike Air Force 1 Genesis sneakers before a game, which are obtained through Ethereum NFTs. With opportunities for brands and fans, questions on exclusivity, practicality, and inflated valuations in secondary markets arise. Balancing innovation and accessibility is crucial for blockchain and NFTs in fashion and consumer goods.

Sotheby’s expands its Metaverse platform by launching a blockchain-based NFT marketplace focused on secondary sales and curated digital art. This move, met with excitement and uncertainty, may bring added value to the NFT market or face challenges attracting sustained buyer interest amid a struggling NFT market.

Truth Labs targets the worst NFT traders with its upcoming Big Inc collection, offering free NFTs to top 1,000 unsuccessful traders or holders of its other collections. Despite concerns on exploiting failures and privacy issues, this innovative approach has captured audience attention and contributes to debates on ethical practices and the future of Web3 technology.

NFT marketplace Blur introduced its collateralized lending protocol, Blend, enabling a buy-now-pay-later approach for NFTs, using NFT collateral for fee-free lending. The move garnered mixed reactions, with proponents highlighting its potential to enhance efficiency, while critics voiced concerns over the risks associated with NFT lending and its impact on the volatile NFT market.