Web3, Smart Contracts and NFTs

The term Web3 is often mixed with metaverse or speculative cryptocurrencies. But Web3 is instead a distinct, fast-growing category of new digital business models. Much like the advent of Web2 led to a wave of innovation in business models, enterprise processes, and customer interaction, Web3 gives companies a construction kit of new business logic.

Blockchains can be used to assign ownership rights to digital assets. These assets are stored tamper-proof in a public database. Digital assets can be exchanged directly without intermediaries. Transactions can be programmed with invariable conditions and executed automatically. By designing special digital assets (tokens), they can develop new incentive or community models, completely redefining the relationship with their customers or suppliers.

Goals

• The Masterclass teaches you the basic technical information and economic mechanisms of Web3.
• You will learn about the different token categories and understand the different uses of utility tokens, stablecoins or NFTs in token-based business models.
• You will learn about new business models based on Web3 using current examples.
• We enable you to develop the fundamentals of new business models through Web3 methods and to be able to assess the possible applications for your company.

The instructor will use simple descriptions to give you a basic understanding of the key technological basics behind blockchain technology and the differences between various public blockchain protocols. You will learn the ins and outs of digital assets (e.g., NFTs, stablecoins, and other tokens) and smart contracts. Through current examples, they will get an overview of new Web3 business models (token economies) and develop a sense of the opportunities this opens up for their business. Finally, they develop initial ideas and possible uses of Web3 in their company as a group.