From a numbers standpoint, it is clear as daylight for everyone to see that the Web3 industry has amassed enormous capital recently, with experts suggesting that the space is set to be worth a whopping $100 billion within the next ten odd years.
In fact, as early as Q1 2024, Web3 startups had already been able to secure $1.9 billion across 346 deals — a substantial 58% increase from the previous quarter. This coincided with growing attention from venture capital (VC) firms as well, with funding for blockchain entities amounting to a sizable $2.49 billion over the same period.
However, this remarkable growth has also brought with it a major conundrum, i.e. how can these innovative technologies be made as accessible as possible to the average user without bombarding them with complex processes or unnecessary technical jargon.
Exploring the art of platform design
In recent months, successful Web3 companies are beginning to recognize that in order for them to truly reach the next level professionally, they need to cater to both crypto enthusiasts and traditional users simultaneously.
This means offering advanced features like decentralized exchanges (DEXs), yield farming options, NFT trading interfaces while also putting forth a simplified interface for basic transactions, savings products, and investment opportunities mirroring services from the traditional financial (trad-fi) arena.
One Web3 entity that has lived up to this ethos is Venga, a platform seeking to re-conceive how Web3 products and services are developed and launched. Having debuted in Barcelona in 2023, Venga’s mission from the get-go has been to bridge innovative blockchain technologies with the trad-fi market using a unified powerful and user-friendly application.
That being said, the platform’s focus on accessibility doesn’t come at the expense of sophistication; instead, it comes through the thoughtful integration of complex features which are presented in an intuitive manner.
Under the leadership of CEO Michael Stroev, who holds over a decade of product and operational leadership experience, Venga has assembled a team of crypto industry veterans that have previously been associated with crypto players like Binance and Pera Wallet.
Moreover, in order to not overwhelm its users with every possible Web3 feature at launch, Venga has been making use of a strategic rollout plan, one where initial releases are made to focus on core functionalities such as buying, selling, swapping, staking and sending crypto.
Subsequently, the project has its sights set on unveiling more advanced features like IBANs, advanced earn products, and exchange capabilities. Another noteworthy aspect of the platform is its focus on education whereby instead of simply implementing new features blindly, Venga’s interface and content carefully explain the platform’s benefits and use cases to its users.
Regulatory compliance and market Innovation
Over the past year or so, Venga has been able to secure its Virtual Asset Service Provider (VASP) registration with both the Bank of Spain and the Ministry of Finance of the Republic of Poland — positioning it perfectly for the upcoming Markets in Crypto-Assets (MiCA) regulation.
Furthermore, the project’s approach to Real-World Asset (RWA) aims to foster new opportunities for investment and asset management that were previously inaccessible to the average user. This is especially pertinent since the industry is already valued at approximately $118.6 billion (as of Q4 2024) and is primed to grow to $2 trillion by 2030.
Integrating the future of finance, one step at a time
For the layman, the increased adoption of Web3 services will hinge entirely on their ability to mirror the convenience and reliability of TradFi services. However, contrary to what many may think, the future of the industry doesn’t need to simply oscillate between DeFi and TradFi but rather offer a seamless experience that incorporates the best of both worlds.
In this context, offerings like Venga are accelerating this trend by enabling mainstream users to make use of future ready technologies that allow them to interact with a ‘new world’ effortlessly.
