How is Web3 Attracting More and More Tech Giant Exec’s

Web3 is growing bigger and bigger with every passing day. Although some giants of the tech industry have been skeptical about web3’s development, and what it could mean for the space, it sure doesn’t show signs of slowing down or even stopping. Elon Musk and Jack Dorsey are among the top players who have been doubtful about the development of what is being dubbed as the “new internet”. However, many from their own industries disagree with their opinion. 

In recent months, we have seen a large number of executives from top tech companies quit their jobs to pursue building applications for web3.

Fast Break Labs: Ex-Meta employees join web3

Fast Break Labs, a web3 firm focusing on developing next-gen sports games, was founded in late 2021 by ex-Meta colleagues Charles Du and John Wu. The Virtual Basketball Association (VBA), a basketball management game that allows fans to create and gather virtual teams of fictional athletes, strategize as general managers and compete in real-time, simulated games for unique rewards, is Fast Break Labs’ first fan offering. Season0, VBA’s Alpha, is set to launch in May 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, Meta to Circle: The list goes on

On the 25th of January, 2022, YouTube’s head of gaming, Ryan Wyatt, announced his departure from the online social media and video sharing platform to join Polygon Studios.

While 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 the same, Wyatt plans to invest in, market, and support the developer ecosystem while also attempting to bridge the gap between Web2 and Web3.

Sherice Torres, the former chief marketing officer of Facebook’s crypto and payments company, Diem, is among the Silicon Valley elite that has jumped ship to crypto. Circle hired her in January of this year. 

Diem’s former head, David Marcus, left Meta late last year. Marcus has been praising Web3 on Twitter, despite the fact that he has yet to reveal his next step. 

Amazon executive in charge of the cloud Pravjit Tiwana also left to work as the chief technology officer of cryptocurrency exchange Gemini.

As we get closer to our future, the clouds around web3 get clearer every day. With top execs joining the cause, it sure adds confidence in the space. We are yet to see the full potential of what web3 could become, as we have only seen glimpses of its form.