Web3 Dev Huddle Panel 5 Recap: Web3 Potential: A VC's View on the Next Big Wave
On November 14, 2024, HackQuest and Gate Ventures, alongside Open Campus and KIP Protocol, hosted the second Web3 Dev Huddle: Gateway to Web3 at Gaysorn Tower, Bangkok. this panel brought together venture capitalists to discuss their strategies and outlook for identifying the next big trends in Web3. Panelists included Shan Han (Head of DeFi at Animoca Brands), Ric Pagano (Accelerator Lead at Outlier Ventures), Dinghan (Partner at Jsquare), and Sirada Lorhpipat (Investment VP at Gate Ventures, Moderator). Read on for key insights from this panel.
Key Takeaways
The Next Big Trends in Web3
The panelists highlighted their focus areas, including the growing importance of AI integration, the tokenization of real-world assets, and consumer-friendly applications.
Shan Han explained Animoca Brands' comprehensive investment strategy, saying, "We now have a portfolio of over 550 companies across various verticals, including gaming, NFTs, and DeFi, but we're also expanding into real-world assets and AI." He emphasized that the convergence of these verticals offers transformative potential.
Dinghan elaborated on Jsquare’s focus areas, stating, "We’re particularly interested in AI and crypto projects that decentralize data collection and identity management, as well as stablecoin payment networks poised to 10x or 100x in the coming years."
Ric Pagano emphasized consumer-focused applications, noting, "There’s too much focus on infrastructure. What we need now are dApps that are mobile-first and retail-oriented—something that can drive viral adoption during the next bull run."
The Role of Founders in Web3 Ventures
Successful Web3 projects depend heavily on the strength and collaboration of their founding teams, as well as their ability to execute long-term visions.
Ric Pagano discussed the importance of team dynamics, saying, "It’s not just about experience; the chemistry between founders and their dedication to the project often outweighs traditional credentials. A team with strong chemistry is more likely to succeed."
Dinghan echoed this sentiment, adding, "Persistence and passion are critical. Whether you’re a first-time founder or a serial entrepreneur, we look for a long-term mindset and a clear focus on building meaningful products."
Navigating Bull and Bear Markets
VCs advised founders on how to adjust their strategies during different market cycles, emphasizing the need for resource management and long-term planning.
Shan Han highlighted the importance of adaptability, stating, "In a bull market, move quickly to seize opportunities. In a bear market, take your time to build thoughtfully and focus on sustainability."
Ric Pagano warned about overvaluations during bull markets: "Don’t raise at valuations that don’t reflect your value—it can harm your ability to raise funds later. Be realistic and plan for the next cycle."
Dinghan offered a broader perspective, saying, "Don’t try to time the market. Focus on building something useful for users and have a clear business model. The most successful companies often emerge from the hardest times."
Closing Thoughts
Panel V of the Web3 Dev Huddle showcased the perspectives of leading venture capitalists on navigating the rapidly evolving Web3 landscape. By focusing on strong founding teams, emerging verticals like AI and RWAs, and the nuances of market cycles, the panelists offered valuable advice for builders and investors alike. As Shan Han summarized, "The future of Web3 lies in creating meaningful, user-focused products that bridge technology and real-world value."