The team here at CannaDAO has just recently gotten back from spending a fantastic time at EthDenver, and quite frankly, we don’t think it’s possible to be more bullish on what we are building and, at a higher level, where this entire space is heading.
It was truly inspiring to be around so many like-minded people. From the friends we caught up with to the countless new friends and new connections we made, it really seems like everybody is a builder. Whether they are building something on their own or have recently joined a team that is building something exciting and new on the blockchain, we found that so many people are just as excited about this space as we are, and it is really beginning to show.
We also found that interoperability is a high priority. Popular projects were focused on working together, not just with Ethereum, but also with some of the other notable chains that are starting to become more prominent in the space. Polygon, Harmony, Terra, NEAR, and Metis were all present, just to name a few, and what was extremely encouraging to see is that all of the most prominent and recognizable projects were focused on how they can continue to build and benefit the entire ecosystem, not just themselves.
Privacy matters! The general consensus is that there is a growing desire from the public to have these features baked into these projects. Every talk and conversation we attended included a piece on privacy as the web3 world becomes more interconnected. People want to know that they can stay protected and anonymous if they so choose and not incorporating those features into projects in some way shape or form is going to be a mistake.
It should also go without saying that the time has come where novel ideas must be had. Conversation after conversation flowed with how founders are creating new and novel ideas, instead of “recreating Facebook on the blockchain”. Not only consumers, but investors alike are all thirsty for new and exciting fresh ideas. Hot topics continue to be centered around finance, gamification, insurance, interoperability, and fundraising. As you might expect, the industries of focus are still the mainstays such as tech, finance, supply chain, and the like. There is however an increasingly newfound interest and building anticipation for the newcomers in the space like cannabis, art, and “phygital” goods.
What was also encouraging to see is that capital continues to flow. Consumers are spending and investors are investing in what continues to be a very healthy overall market. Many people still have great sentiment overall on the crypto economy despite a recent downturn on price action. Most encouraging was that it seems that there continues to be “new money” entering the space. Nobody is shy to discuss the topic of capital which is a trend that differs from decades prior. It just reaffirms that this space is truly blossoming and more and more people are beginning to take note and get involved.
Speaking of investors, we find them to be savvier than ever. Gone are the days of the pretentious investor. Instead, we now see investors engaging with and having enthusiastic conversations with individuals from all walks of life. Web3 is a whole new world that is full of budding superstars and hidden gems. Investors are leaving no stone unturned when it comes to discussing projects with different founders as they are eager to sniff out the best opportunities which are not as obvious to find as they were in years past.
As you can imagine, NFTs were a hot topic across the event. Being one of the most popular and most common projects in the space right now, it is really no surprise that a lot of conversations were dominated by these projects. What was very interesting, however, is that both founders and consumers are now realizing that these NFT projects must push the boundaries. As the NFT market becomes more saturated, it is more important than ever that these projects must continue to push new boundaries and reach new heights if they want to hit critical mass.
Speaking of NFTs, Canna Farm was a huge hit! The crypto community loved the CannaDAO vision and mission, especially starting with a hit NFT game and expanding out from there. It was amazing to meet so many like-minded people who have a focus on elevating cannabis and the culture along with it. We can’t wait to bring the full CannaDAO suite of products to light!
All in all, this was a fantastic event which just reaffirms what we already knew. The entire community is excited. People want to learn and they want to ask questions. They are well informed and aware of different projects in the space. We say “DYOR” in this space, and we are honestly seeing it come to fruition. It shows that brands are in good hands. It enables them to be growing from a grassroots perspective while consumers are truly excited to be part of something new.
CannaDAO is the forefront of a new area in the cannabis industry, aiming to push the boundaries of traditional finance. Following long struggles for cannabis rights, both in recreational and medical use, significant legal breakthroughs in the past decades have led to increased tolerance, decriminalization and legalization around the world.
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