Pioneer of Web3 companies Consensys to undergo first rebranding

1 year ago 82

High awareness of crypto assets

Consensys, a Web3 (decentralized web) development company in the United States, has rebranded its crypto assets (virtual currency) wallet “Metamask”, which is used by more than 30 million people around the world.

He launched a new brand that reflects his commitment to inspire and empower the ‘builder’ in everyone.

Along with the renewal of the corporate logo, the spelling of the alphabet will also change from ConsenSys to “Consensys”.

ConsenSys started as an incubator for blockchain startups and has evolved with the rapidly changing industry to become the integrated software company it is today. This is the first time that ConsenSys has intentionally attempted to redevelop its own brand from scratch, as web3 is about to become mainstream.

Virtual Hackathon “NAVH”

ConsenSys announced the launch of the global virtual hackathon “NAVH”. It is scheduled to be held from July 7th to September 7th, 2023, and applications can be made at any time until August 14th.

Crypto Assets and Web3 Report

ConsenSys has released a survey that explores public awareness and understanding of Web3 and the cryptocurrency ecosystem, and how they differ from country to country.

The survey was conducted by market research firm YouGov and is a global survey on the theme of “Crypto Assets and Web3”. The target area spreads to 15 countries in Japan, Africa, America, Europe, and Asia, and a total of 15,158 ordinary people aged 18 to 65 participated.

The survey will run from April 26th to May 18th, 2023, and will collect a range of opinions related to Web3, including cryptocurrency investments, personal data privacy, and internet ownership.

Source: Consensys (same hereafter)

As a result of the survey, it became clear that the awareness of crypto assets is very high at 92% worldwide. 40% of respondents currently or have owned crypto assets in the past, with the highest share of ownership in the United States, Philippines, Vietnam, India, Nigeria and South Africa.

Regarding Japan, less than 20% of respondents have purchased crypto assets. In addition, according to ConsenSys, the assets owned by Japanese respondents are Bitcoin and Ethereum, which are the two strongest.

As the bear market of crypto assets prolongs, in 2022, centralized crypto asset exchanges such as FTX and Celsius will go bankrupt one after another. Respondents found that “increased safety measures and transparency” are important actions that the market needs to take to restore trust.

In November 2010, the demand for self-custody (self-storage) crypto asset wallets such as hardware wallets increased as some customers were unable to withdraw their assets from multiple centralized platforms such as FTX (global version). There is also data showing an increase in

connection:Self-managed hardware wallet hits record weekly sales

However, many respondents around the world did not clearly understand the difference between non-custodial and self-custody wallets. This lack of understanding is particularly pronounced among respondents in the UK and Mexico, with 72% and 70% respectively saying they are either unfamiliar or completely unaware of these wallets.

Future Possibilities of Web3

On the other hand, only 8% of the respondents said they understood the concept of Web3. However, concepts such as digital ownership and personal information management that are characteristic of Web3 are emphasized by respondents, and the trend can be seen.

In fact, 67% of those surveyed say they should own what they create online, and 50% perceive it adds value to the Internet. However, only 38% feel they are well compensated for their value. Especially in Japan, only 19% of users feel they are well rewarded for their value and creativity on the Internet, highlighting a great deal of mistrust of the current Web2 “creator economy.” .

The survey results suggest that people around the world make valuable contributions online and see themselves as contributors. This user self-awareness, because Web3 aims at a decentralized Internet where users can participate more actively than the traditional Web (Web2) and have control over the value they get from the activities they do. is important.

In response to this global trend, Consensys has put forward the definition that “everyone is a ‘builder’ of Web3.” In addition, a new brand image was announced to reflect the purpose of promoting it.

ConsenSys is a brand that supports not only traditional developers and people who contribute to the Ethereum (ETH) network through staking, but also artists, community creators, collectors, etc. as Web3 “builders”. Emphasis on evolution.

ConsenSys founder and CEO Joe Lubin summed up the findings of the survey on the theme of “Crypto Assets and the Web3” as follows:

This research confirms the emergence of a phenomenon in which users and communities are empowered by a decentralized trust paradigm. The Age of Builders fits the Web3 philosophy where everyone contributes. Consensys aims to be a trusted partner of builders and developers, oriented towards community empowerment and supporting positive global impact.

What is Web3

The current centralized web is defined as Web 2.0, and refers to an attempt to realize a non-centralized network using blockchain. Consensys identifies three characteristics of Web3: “active participation”, “empowerment” (empowering individuals and promoting agency), and “broader community ownership” (unifying communal ownership). from departmental companies and organizations to many individual users).

Cryptocurrency Glossary