Web3 is growing more and more with each passing day. While some tech industry giants have been skeptical about the development of web3 and what it could mean for the space, it sure shows no signs of slowing down or even stopping. Elon Musk and Jack Dorsey are among the main players who have doubts about the development of what is being dubbed the “new internet”. However, many of his own industries disagree with his opinion.
Over the past few months, we’ve seen a large number of executives from leading tech companies leave their jobs to pursue web3 application creation.
Fast Break Labs: Former Meta employees join the web3
Quick break labs, a web3 company focused on developing next-gen esports games, was founded in late 2021 by former Meta colleagues Charles Du and John Wu. The Virtual Basketball Association (VBA), a basketball management game that allows fans to create and assemble virtual teams of fictional athletes, strategize as general managers, and compete in real-time simulated games for unique rewards, is the first Fast Break Labs fans. Season0, Alpha of VBA, is scheduled to be released in May 2022.
gm to all GMs and welcome to the Virtual Basketball Association: the first basketball manager experience built for the metaverse.
✨ Build your dream team.
🏆 Compete to be the best.
💸 Earn real rewards.
🏀 Master the game.https://t.co/RCZdm2QEAK
tl;dr 🧵 👇
— VBA 🏀 (@vbagame) February 22, 2022
The company announced the completion of a $6 million seed round in February 2022, which was co-led by early-stage venture firm Patron and blockchain-focused fund Pantera Capital.
From YouTube to Polygon, from Meta to Circle: the list goes on
On January 25, 2022, YouTube head of gaming Ryan Wyatt announced his departure from the social media and online video sharing platform to join Polygon Studios.
In explaining his resignation, the executive expressed his enthusiasm for blockchain and Web 3.0 development. His note also mentioned his work at Polygon Studios. According to him, Wyatt plans to invest, market and support the developer ecosystem while also trying to bridge the gap between Web2 and Web3.
Sherice Torres, former chief marketing officer at Facebook crypto and payments firm Diem, is among the Silicon Valley elite who jumped ship to cryptocurrency. Circle hired her in January of this year.
Diem’s former boss, David Marcus, left Meta at the end of last year. Marcus has been praising Web3 on Twitter, though he has yet to reveal his next move.
Amazon executive in charge of the cloud Pravjit Tiwana also left to work as chief technology officer for cryptocurrency exchange Gemini.
As we approach our future, the clouds around web3 are getting clearer every day. With top execs joining the cause, it certainly boosts confidence in the space. We are yet to see the full potential of what web3 can become, as we have only seen glimpses of its shape.