The introduction of Web3 principles into modern financial sectors and the technology industry offers the opportunity for a more diverse and inclusive future.
Given Web3’s unique position to drastically improve on all elements of the current evolution of the internet (Web2), Web3’s upgrade from the current system opens the world to meritocracy, decentralization, and global accessibility.
By combining these characteristics into the untapped potential for inclusivity — with global reach — Web3 can be seen as one of the grandest social experiments, set to reshape how we live in the information age. Unlike its predecessor, Web3 does not rely on traditional industries and does not adhere to their bottlenecks such as socio-economic limitations and geographical boundaries.
What is Web3?
Web3 is the third generation of the Internet, built upon the technological foundations of blockchain technology, decentralized finance (DeFi), decentralized applications (DApps), and smart contracts. The aggregation of this technology has created a paradigm shift as centralized entities see the power return to communities and individuals.
By empowering users through inclusive democratic and meritocratic systems, the decentralized nature of Web3 ensures that there is no singular point of power concentration in either country or continent. The global distribution of resource accessibility and opportunity creates a strong framework for worldwide diversity through Web3’s inherent principles.
Through this innovative democratization of information and access, Web3 enables individuals from all cultural backgrounds and any location to work together without barriers.
The Catalysts Behind Web3 Success
Web3 is the catalyst for both inclusivity and diversity for the future of the industry, but what catalysts are behind the success of this evolutionary advancement? Innovators like AMGI Studios, based in Los Angeles, are working towards developing the message behind Web3 technology.
AMGI Studios is a creative technology studio operating where gaming, technology, and storytelling intersect, boasting a professional team of over 60 accomplished members in testament to its pro-diversity efforts. With over half their team hailing from countries outside of the United States and including a range of cultural backgrounds, the team’s composition drives the message home.
Through proprietary artificial intelligence (AI) integration and real-time animation technology, AMGI Studios is positioned as a prime example of a catalyst fueling Web3’s growth and success. The studio’s approach to community and inclusivity helps to empower both the content creators behind the scenes and the diverse community that supports their projects.
My Pet Hooligan: Web3 Inclusivity in Action
My Pet Hooligan is a Web3 game developed by AMGI Studios. It serves as an example of how effective Web3 can be to ensure innovation, diversity, and inclusion can be combined in the industry. Built on AMGI’s proprietary motion capture and AI technology, players can stream and create content as their in-game avatars, crossing the divide between Web3 and traditional gamers.
The game features captivating storytelling, allowing players to rebel against an evil overlord by wreaking havoc in a virtual city. This environment, though virtual, facilitates real-world benefits as it emphasizes social interaction and user-generated content to ensure every player matters and every interaction has a lasting impact on the space.
My Pet Hooligan’s success is evident when considering the sheer success of its community engagement, having accrued over 400,000 downloads in early access alone. Trending second only to the famed Cyberpunk 2077, the game has a highly active community on social platforms like X and Discord, promoting the inclusivity and community-driven potential of Web3.
Social Impact and Decentralized Solutions
The decentralized and merit-based framework of Web3 carried significant implications for social dynamic and financial inclusion. For example, My Pet Hooligan utilizes the native KARRAT token, an innovation built from a decentralized gaming infrastructure layer to support games, gamers and the entire Web3 industry.
With DeFi, the walls that encase traditional financial systems within in-game markets come crumbling down as user content ownership and inclusivity become the priorities. By breaking away the traditional barriers of entry, individuals from any background can enter and contribute to the industry without limitation.
The democratization of these opportunities enables further promotion of an inclusive space for users and players to develop a true sense of ownership and security in a mutually beneficial space. This leads to an community-driven industry that ensures individuals feel more invested in the success of Web3 and the projects they engage with.
The Impact of Diversity in Web3
When it comes to Web3 and the implications of diversity in the space, the social and economic impact should not be underestimated. Through the collaboration of diverse teams and individuals from around the globe, a near-unlimited wealth of experience and perspectives can come together to build progressively innovative ideas and solutions.
Considering Web3’s principles of inclusivity and decentralization, diversity is vital for both its success and the creation of products and technologies that benefit all users globally. Free-thinkers like AMGI Studios are committed to this establishment of diversity through its multicultural team, which draws inspiration from a plethora of experience to build Web3 products that appeal to all.
By creating products that resonate with global audiences, Web3 companies like AMGI Studios and its games like My Pet Hooligan will be critical for the times ahead. Through the technological potential of Web3 and the industry in which it works best, innovators around the world have already acknowledged the technology’s potential.
Better Web3, Better Industry
Web3 technology and principles will be fundamental for the future of both the crypto industry and technology industry by developing diverse and inclusive opportunities for mutual growth and success. By embracing the empowerment of merit-based structures and decentralization, talented individuals from any background can contribute cooperatively towards future innovation in the industry.
By setting a new standard from its Web2 predecessor, Web3 presents more than a simple technology leap — it grants the opportunity to make a better and more diverse industry as a whole for all. With companies like AMGI Studios pushing towards the goal to create a more inclusive industry, Web3’s future looks that bit brighter (and more diverse) every day.
