Visionary VC Fred Wilson points to AI applications, dApps, and a “deal” between regulators and Web3 as crucial trends and events for the tech segment. He is also strongly positive about the prospects for venture capital, but does not expect rapid growth in funding in 2024.
Visionary VC Fred Wilson points to AI applications, dApps, and a “deal” between regulators and Web3 as crucial trends and events for the tech segment. He is also strongly positive about the prospects for venture capital, but does not expect rapid growth in funding in 2024.
ChatGPT moment for blockchain is coming, says top VC investor
AI and Web3 are two sides of the same coin, and in 2024 the two spheres will help Internet users use each other: AI will help make Web3 usable for mainstream applications, and Web3 will help users to trust AI. This statement was shared by Fred Wilson in his annual report What will happen mail covering the “next big things” of 2024.
The macro context for this development will be better than in 2020-2023, as inflation in the US is declining. Wilson calls this situation a “soft landing” and highlights its critical importance for the next phase of technological growth.
As the world moves towards the AI era, demand grows for inclusive and viable business models that make the use of AI profitable for many parties. Since Web3 applications are one of the most obvious solutions to this problem, their synergy with AI could become a major trend in 2024.
Additionally, decentralized applications of various types could be entering a “ChatGPT moment” phase, that is, a dramatic increase in the adoption of dApps for a large number of use cases:
AI was developed for over forty years before its coming out party. I think it will take web3 less than half that time. Satoshi gave us the manual for building a decentralized Internet stack in 2008 and I’m pretty sure we’ll have massive applications running on this decentralized stack long before 2028. I think we’ll see mainstream decentralized applications emerge in 2024, like we have now. cheap, fast transactions and simpler user interfaces
Meanwhile, the end of regulatory hostility towards Web3 is another trend expected by seasoned VCs and Bitcoiners since 2013.
Venture capital investment in 2024: strong, but not fast growing
According to him, the American legal system will reach at least the level of regulatory clarity achieved in the European Union.
In addition to the disruption of cryptocurrencies and AI, Wilson expects a “new energy stack” to be revealed as part of the human ESG strategy.
Speaking of the venture capital segment itself, Wilson does not expect venture capital investment and venture capital fund formation to grow that much year-over-year in 2024. However, the capital markets scene will remain ” solid,” he admits.
Fred Wilson is a renowned venture capitalist and blogger. As Guru-Investingpreviously reported, he made around $1 billion selling COIN shares after Coinbase’s IPO.