November 11, 2022

Predicting The Solutions To Classic Web3 Challenges

Predicting The Solutions To Classic Web3 Challenges

Web3 might not have built bridges or architected buildings that would last for centuries to come, it continues to inspire people of all backgrounds, and different ideas, to seek new social and economic structures that provide independence.

Like every new invention or technological shift in history, Web3 has presented itself in ways difficult to adapt to for the majority of both online and physical-world communities.

Whilst some of the most brilliant individuals and groups are reimagining economic systems through concepts like NFTs and DAOs, a lot of people are still unfamiliar with what these abbreviations stand for in the first place, and as Web3 hosts still a completely new and largely untapped market, it is right to expect such phenomena.

However, those who are familiar with the gifts of Web3 and consistently participate in its ecosystems, have experienced a set of completely unique issues not present in the traditional finance environment.

Here we, SparkWorld*, stand to share these most prevalent challenges of Web3, and explore the potential solutions to them which are already doable with today’s technology.

Although SparkWorld* is a project focused most on changing the way we launch and acquire NFTs, the challenges outlined below apply to nearly every other Web3 sub-space today.

Injecting Transparency Into Web3

Little information on a lot of Web3 projects is very visible in all kinds of niches. The reason for this is very simple — with lack of regulation comes lack of responsibility, and the number of small anonymous NFT projects without bringing much value can confirm this.

We at SparkWorld* are in no way suggesting that regulation is the answer to every problem and that governments are always correct — what we will say is that proper ecosystems can be built to disallow dishonesty or misrepresentations of what’s really under a given project’s hood.

For example, on the SparkWorld* platform, all transactions will be visible on the public ledger, giving full transparency, and in addition, NFT projects offering products to be put on our launchpad — they will be run through our due diligence process that helps pick only the best quality projects so that we and our participants could have less chance of getting hurt in any way.

The blockchain, in SparkWorld*’s case being Avalanche Network, allows us to give up reliance on third-party integrity because every piece of the needed information is already visible to all.

Web3 can be most ethically and socially rewarding when such structures like the public ledger are put in place — when information is freely available, there are hardly any incentives for malicious actors to take it.

A Level Playing Field For All

One does not hear such news very often in a time when only the flashiest and most disturbing stories go through media, but the majority of people participating in NFT launches are being left behind either because they are late to the party or because they do not bring a significant amount of resources once they come.

These stories can be best heard in Web3 online communities where discussions are in flames all of the time, from regular people trying to dip their toes into the NFT market.

How can we fix systems where the same ol’ bureaucracy from TradeFi was brought to DeFi? For starters, we could reimagine the way NFTs and other digital valuables get launched online in the first place — today, we see projects working against the user through the first-come-first-served model, which ends the slightest hopes for fairness before any launch actually begins.

At SparkWorld*, we invented the Fair Prediction Launch — a mechanism helping allocate digital resources through a process based entirely on users’ skills. Predictions markets have brought incredible amounts of value both to the user and the project without them having to sacrifice a lot of resources to have fun and get rewarded.

Despite the cryptosphere having never tried such concepts with NFT launches, we believe this can solve the Web3 launch inequality problem.

Making Engagement Fun

The time for human, natural, and honest interactions online has not been great recently. Look in one direction — there’s angry Twitter mobs, look in another — greed-fueled Reddit madness about stocks.

NFT and Crypto communities are already more fun and welcoming than most, it’s just that people seemingly still feel anxious about engaging with projects and their communities to the fullest, even when all the right gears are put in place.

Of course, we have seen projects trying to silence their own participants while not being too honest themselves. However, not all projects have such leadership, and the vibe positivity glass surely seems more full than empty.

How do we make engagement easy, and the meaning of it significant?

Let’s gamify ecosystems and most interactions with other participants, let’s not make it a chore to register for community events and AMAs. Gamification has proven itself to work well for communities in most Web3 sub-spaces, so why not try and accelerate gamified activities with NFTs?

Moving Forward

Reading traditional product brochures filled with cheesy marketing, a consumer would be told that the given problem shall be solved instantly if the product was purchased. In some cases, the product purchased would deliver, in some cases it wouldn’t even come close.

In Web3, challenges are also present, but an all-in-one solution package could not exist to fix them all.

Therefore, we at SparkWorld* can only acknowledge the recurring problems of the entire Web3, invite individuals and projects to help solve them, and proceed with solving NFT whitelisting and fairness — a problem we are creating success from.

Whilst all problems cannot be solved at once, with a single product, we welcome you to participate in SparkWorld*’s ecosystem that helps eliminate front-running bots, cut down on the first-come-first-served model, and bring fair rewards.

Join us in this mission by following us on Twitter, joining our Telegram, and preparing for the upcoming prediction platform launch!