This week, we see a resurgence of metaverse and web3 technologies. Recent reports found that investments in NFT start-ups remain in the billions, and the number of active Ethereum users increased by 36% in the third quarter of 2022. New announcements, such as the world’s first debit card featuring NFT avatar customization, continue to fuel the sector's rise.
As the metaverse emerges from crypto winter, thought leaders debate the future of interoperability in an ecosystem fragmented between web2 incumbents and web3 challengers. Many more coherent and thoughtful projects are coming in since Q2 2022, a welcome change from the 2021 NFT craze and its flurry of hastily conceived projects. It seems the new and upcoming metaverse projects incorporate the early users' feedback and the need to include actual utility and meaning for the economy and society.