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Web3 and Metaverse

Web3 and Metaverse

Everyone’s buzzing about web3 and the metaverse, but what are the real-world implications for your business? We can help you find the answers.

Web3 and Metaverse

If the web’s second generation introduced interactivity, web3 is poised to change interaction itself. Enabled by digital identity and powered by blockchain technologies, the Internet’s third iteration is more open and decentralized—ushering in an entirely new digital economy. 

Web3 has the potential to introduce new opportunities across a variety of sectors, yet it will impact many industries’ profit pools by removing the traditional intermediaries in value exchange. Tokenization, blockchain payment rails, and decentralized finance (DeFi) are pushing financial institutions to rethink business models and market structures. Digital rights ownership (NFTs) will enable consumer brands to reimagine loyalty programs, engagement, and brand experience. Moreover, the metaverse will transform the way people engage with technology and commerce, propelling companies to rethink how they interact with customers in new virtual environments. 

We help you unpack web3’s implications and establish a future-back view of how it could impact your industry. We assess opportunities and threats, reimagine your business model with new digital experiences, support product launches, and chart a course for long-term value generation.  Our web3 and metaverse consultants bring experience from many fields, having completed more than 100 cases with clients ranging from incumbent financial institutions and leading private equity investors to consumer products companies, retailers, media and gaming companies, and even web3 natives. In a rapidly shifting landscape, we’ll help you separate the noise from the strategic actions you must take to prepare, adapt, and ultimately thrive in the next digital era. 

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Our Experience

Featured Insights

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Our Core Industries

Web3 and the Future of Banking

Web3’s growing role in financial services is poised to shake up business as usual, creating ripple effects in everything from transactions to regulation to recruitment. We sat down with Morgan McKenney from Provenance Blockchain Foundation, Alejandro Valenzuela of Banco Azteca, Kelly Mathieson of Digital Asset, and Himal Makwana of FIS to understand how web3 is propelling the future of banking.

  • Web3 Talent

    The Talent Dynamic in Emerging Digital Financial Services

    As financial services firms prioritize attracting talent, web3 creates new opportunities to make the industry more inclusive. Recognizing that building capabilities and platforms requires diversity of thinking, leaders are broadening their talent search. At the same time, the democratization of finance ushered in by web3 may help firms draw candidates who value mission-based, purpose-led companies.

  • Regulation

    Protecting and Regulating the Financial Digital Asset

    The nascency of a legal framework poses a significant barrier to adopting financial digital assets. Mortgages on blockchain, for example, offer benefits to all parties—but the asset requires legal protection. UCC article 12 broadens the digital asset range to be legally protected, but there’s still work to do.

  • Digital Identity

    The Intrinsic Link Between Web3 and Native Digital Identity

    Digital identity may be every customer’s most important asset, but it’s the weakest link in the blockchain landscape, says Morgan. While credentialing and security solutions are still being built, one thing that’s certain is that each of us will ultimately control our own identity assets. Moving past the experimentation phase, however, will require mainstream adoption of the digital asset ecosystem, along with banks’ leadership in creating solutions.

  • Future of Finance

    Blockchain and the Evolution of the Digital Financial Factory

    Blockchain. NFTs. Crypto. These buzzy words percolating in the public consciousness today will, in a mere decade, describe the new “factory of finance”—how assets are issued, financed, and serviced. As Morgan explains, this shift will address inefficiencies in financial services, enable more real-time settlement, improve asset liquidity, and boost transparency. Get ready for the self-checkout line of finance.

  • Stablecoins and CBDC

    The Changing Nature of Money

    As cryptocurrency transforms finance, very tangible benefits and drawbacks have emerged. With cash offering a sense of privacy, cultural changes will be necessary to go digital. Direct transactions without intermediaries are more convenient and efficient—but remove traceability. Alejandro discusses the evolving state of central bank digital currencies (CBDC) and the implications for governments, banks, and consumers.

  • Digital Asset
  • FIS

The Talent Dynamic in Emerging Digital Financial Services

As financial services firms prioritize attracting talent, web3 creates new opportunities to make the industry more inclusive. Recognizing that building capabilities and platforms requires diversity of thinking, leaders are broadening their talent search. At the same time, the democratization of finance ushered in by web3 may help firms draw candidates who value mission-based, purpose-led companies.

Protecting and Regulating the Financial Digital Asset

The nascency of a legal framework poses a significant barrier to adopting financial digital assets. Mortgages on blockchain, for example, offer benefits to all parties—but the asset requires legal protection. UCC article 12 broadens the digital asset range to be legally protected, but there’s still work to do.

The Intrinsic Link Between Web3 and Native Digital Identity

Digital identity may be every customer’s most important asset, but it’s the weakest link in the blockchain landscape, says Morgan. While credentialing and security solutions are still being built, one thing that’s certain is that each of us will ultimately control our own identity assets. Moving past the experimentation phase, however, will require mainstream adoption of the digital asset ecosystem, along with banks’ leadership in creating solutions.

Blockchain and the Evolution of the Digital Financial Factory

Blockchain. NFTs. Crypto. These buzzy words percolating in the public consciousness today will, in a mere decade, describe the new “factory of finance”—how assets are issued, financed, and serviced. As Morgan explains, this shift will address inefficiencies in financial services, enable more real-time settlement, improve asset liquidity, and boost transparency. Get ready for the self-checkout line of finance.

The Changing Nature of Money

As cryptocurrency transforms finance, very tangible benefits and drawbacks have emerged. With cash offering a sense of privacy, cultural changes will be necessary to go digital. Direct transactions without intermediaries are more convenient and efficient—but remove traceability. Alejandro discusses the evolving state of central bank digital currencies (CBDC) and the implications for governments, banks, and consumers.

Our Web3 and Metaverse Consulting Team

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Vector℠ is a service mark of Bain & Company, Inc.