Any project is eligible to participate in the Web 3 Pitchfest if it satisfies the following criteria:
Not only startup enterprises are eligible to apply, but also any chain, distributed autonomous organization (DAO) or non-fungible token (NFT) projects/communities can apply which is involved in deploying a commercial business product or service that uses blockchain implementations in any of the below categories that represent responsible innovation for a better society and environment.
OPEN PAYMENT AND EXCHANGE SYSTEMS
- Cryptocurrency and blockchain solutions that deal with the core “medium of exchange” function of money to enable wider financial inclusion, easier and less costly global payments and “programmability” enhancements for peer-to-peer fundtransfers.
ORGANIZATIONAL GOVERNANCE | DAOs
- Solutions that draw from the ideas and technology surrounding decentralized autonomous organizations (DAOs) in order to enhance collective empowerment, optimize community decision-making and better allocate shared resources.
- Solutions that improve people’s cultural, economic or social experience in virtual worlds and seek to advance the public interest, with the benefits accruing both to our off- and online existences.
CREATOR ECONOMY | NFTs
- Solutions that draw on NFTs and related technologies to empower creators of art, media and entertainment and which encourage the expansion of creative ideas across the widest possible community of participants. .
- Solutions that resolve challenges arising from the identity and credentialing demands that societies and their institutions have developed offline when applied to the special privacy-preserving access needs of participants in decentralized online communities and ecosystems.
DECENTRALIZED IoT NETWORKS
- Solutions that allow different kinds of edge-computing devices to independently and securely share data across a mass network in a decentralized manner that preserves privacy and which enables and incentivizes automated actions in the shared interests of the community of users.
Web 3 and BLOCKCHAIN INFRASTRUCTURE
- Solutions that address core challenges for growing the overall Web 3 ecosystem, making it more widely accessible and advancing the principles of practical decentralization. Problems to address include blockchain scalability, transaction costs, privacy and security, interoperability, analytics, real-world and off-chain interfaces and universal price discovery.
Organizations in Web 3 Pitchfest will be judged on each of
the following 5 criteria which will be scored from 1 (low) to 10 (high):
PRODUCT/SERVICE INNOVATION: The level of innovation of the product or service
- Does this project rely on the distinctive characteristics of blockchain implementations for its unique business proposition?
- Is this business proposition a disruptive innovation that creates a new market and/or a new value-ecosystem that displaces or radically modernizes an existing industry?
- Is it differentiated from competitive or substitute offerings?
MARKET AND COMMUNITY: Proof of scalability and market to support growth and profitability
- Is there a clear purpose with network effect, and high levels of user retention and growth. Are the community metrics across platforms showing growth (i.e Discord, Telegram, Slack, Twitter etc.)?
- Can the project demonstrate that it will scale enough in the addressable market for sufficient growth/profit to be an attractive investment?
TEAM: Team’s credential and experience
- Is this team uniquely qualified to develop this project?
- Do they strongly understand their users and the industry and ecosystem in which they operate?
- Do they have the determination and endurance to carry this through to completion?
GOVERNANCE: Appropriate design for successful operation
- Is the organizational governance fit for purpose?
- Does the project’s design encourage the forging of consensus across the network?
- Is there value capture and value creation across the platform?
TECH FOR GOOD: The degree and reach of impact on human and planetary health
- Is this innovative product/service addressing a significant global challenge to society and/or the environment?
- Can this startup’s product/service have a wide-reaching impact on same?