When the Web first started, we only exchanged various documents and strange pictures (?), and no one knew what we could do with it. Then the dot-com bubble was blown away. But 10 years later, the companies that survived the bubble changed the world.

Similarly, I think of the cryptocurrency itself as the Internet or a web browser. In 2018, everyone only dreamed of what they could do with it, and no company showed anything in reality.

However, since this is a technology that is easy to “invest” from the start, the bubble seems to grow faster and burst faster. So now the second bubble is passing.

I believe that in the diffusion of all technologies, a proper bubble is an unavoidable process. But I think sincere people will get on that bubble properly and create something. There is now only one killer app, like NFT and PFP, that satisfies people’s more familiar collection needs.

The essence of this innovative change is “global technology platform” and “Monetization”. That’s what the smartphone ecosystem innovated. I believe that the true Web 2.0 is a digital ecosystem created by smartphones. In particular, it has given some companies a stronger centralization of these two in a smartphone-based digital ecosystem.

Now, I’m not sure if a technology called Web3.0 will be able to make a huge breakthrough in 10 years, but I think the developers have probably secured the funds so that the technology on which the innovation is based can be developed. I believe we can now just wait and they will come back with a killer app that will surprise us again. Not sure if it’s a P2E game, a metaverse, or a Venture DAO.

Actually, I’m jealous too. With the growth of the smartphone ecosystem, I was able to contribute to the growth of several tens or hundreds of times of Lezhin Comics and Crowdworks as an angel investor, but I did not participate much in the growth of cryptocurrencies and NFTs. Of course, in 2018, I was also following along to learn hard. Following the passion of a junior who is much younger and smarter than me is limited in terms of physical strength ^^;

Anyway, there are some people who underestimate the change of Web3, which is now represented by DAO/NFT/blockchain. It is true that I feel the same way. No, why spend money on a pathetic profile image? Bitcoin will never be able to replace the money. Web 1.0 also started based on decentralization, but what is new with Web3? Yes. Web 2.0 was also a marketing keyword, and so is Web 3. However, it is worth paying attention to the changes of the younger generation.

I couldn’t understand why my son, who was in elementary school 10 years ago, put away his other good 3D games and enjoyed games like Minecraft with poor graphics and difficult storytelling. However, looking at the growth of Roblox and The Sandbox today, obviously, a middle-aged man like me never enjoys it, but many people enjoy it. These changes exist and we have to admit it.

As with Minecraft, disruptive innovations always start with “tech that doesn’t look super cool.” However, the direction seems to be worth paying attention to. If my friends, my juniors, and smart young people go there, wouldn’t there be something special there? Especially if it’s not in a large company, but a young company with a lot of passion.

If you have the same thoughts as me, please comment below. I’m late recently, but I started a community studying DAO. I would like to invite you if you are interested in it.





Managing Director of Bigbang Angels and PlatformLabs, Pte. Ltd, Angel investor, Platform business model expert

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Michael (ByungSun) Hwang

Michael (ByungSun) Hwang

Managing Director of Bigbang Angels and PlatformLabs, Pte. Ltd, Angel investor, Platform business model expert

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