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By Romain SWERTVAEGER and Pierre-Yves AMÉ, EY Luxembourg *
An impressive rise followed by more reasonable growth
Undoubtedly 2021 and early 2022 have seen the rise of Web3 – the third generation of the world wide web, open and decentralized – and funds dedicated to it, with investors putting around 94 billion US$ worldwide into Web3 projects(1), most of this since 2021.This was pushed by several factors.
First one being the democratization and use of the blockchain technology beyond the cryptocurrency world, as Web3 is based on a decentralized architecture. Second, Web3 being the successor of the Web 2.0, commonly used by millions, the appetite was enormous in the alternative investment world as everyone...
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