Introducing the Future of Web3 Infrastructure

We live in a time of technological disruption.

 I’ll pause momentarily and let you as the reader picture what that means to you. Do you think of advances in biotechnology? Self-driving cars? New regulations on data and privacy? The breakup of big tech? Or are you, like me and countless others, fascinated by an arguably more subtle, but perhaps more seismic shift in the way our society interacts with the very essence of the internet.

Yes, I am talking about Web3. The moniker used to describe everything from cryptocurrencies, to virtual real estate to attending office meetings with a clunky set of goggles strapped to your face (thanks Meta). All these ideas prompt their equal share of both unshakeable admiration and disdain, but the fact that they are inducing any form of conversation is in itself important.

Now, any internet historian can confirm that in the long run, both sides will probably be wrong. The Federal Reserve of the United States probably won’t switch to utilizing Bitcoin over the US Dollar as its primary tool in managing monetary. Similarly, self-satisfied naysayers claiming Web3 is nothing more than an embarrassing display of youthful ignorance will certainly be proven incorrect. More likely, Web3’s ultimate form will come into focus slowly and then rapidly, driven by future unforeseen advancements in technology and the eventual adoption of core use cases by the institutions which govern citizens’ daily lives.

It is neither my intention nor the intention of Metcy as a company to make predictions about what exactly Web3 is or will become. Instead, we focus on an area of technology under the Web3 umbrella that we believe is simultaneously both the most misunderstood and with the greatest potential of any recent advancement over the past 20 years. Blockchain technology represents a complete overhaul in how data is stored and managed on the most fundamental level. In a world that lives on data, this is massive.

Without digging too much into misconceptions around blockchain or how the technology works (that is for later), what we can say is that the applications are endless. From supporting the distributed sale of music rights by artists to enhancing security settlement practices between institutional money managers, we can expect an increasing amount of our lives to become impacted by the technology. This is much in the same way we all now engage with advancements in artificial intelligence and machine learning on a daily basis even without our realizing. In particular, we have strong conviction in the smart contract structure and its support of non-fungible tokens (NFTs) due to their flexibility and ability to support an array of on-chain functions.

However, despite this sunny future for blockchain, there is a major issue. As many readers will note, the token space has unfortunately become classified as deeply unsafe. The blockchain equivalent of visiting a website with an unsecured connection. There are many good reasons for this. Scams abound, marketplaces sell the wrong NFTs to the wrong people and thousands have lost money or assets they can never recover.

This is both a technological and a social problem. For developers building in the Web3 space, most of what they are creating is completely new to them. They were trained in Web2 technologies. They learned Java not Solidity. They learned about data silos not the blockchain. New technology plus a lack of guiding development principles leads to issues. Socially this is bad. If people and institutions can’t feel safe engaging with this new form of technology, they won’t. This is especially true while government regulation plays a continuous game of catch-up. Some would argue they haven’t even caught up to Web2. Until the development community can fill this gap of trust, usage of these new technologies will remain limited to a small group of insiders. Widespread adoption will be halted.

This is the purpose behind Metcy. We want to help accelerate the growth of blockchain by helping developers build and adopt blockchain protocols in a way that is stable and secure.

We are starting by fixing the NFT problem. That means providing engineers with a tool to verify NFT ownership in a way that is fast, scalable and very, very easy regardless of your level of Web3 development expertise. Our Validation API will remove all of the complexities from this problem. No need to set up an Ethereum node. No need to learn Solidity. No need to even ensure proper hexadecimal formatting. A single GET request is all that is needed to confirm that the owner of any contract token is exactly who they say they are. In other words, we’ll build the foundation so you can build the skyscraper.

We’re excited to see what you create. If you want to be the first to know about Metcy launch updates and our exclusive newsletter, enter your email to subscribe.

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