Turkish blockchain project Metatime has raised $11 million from private funding to bolster its efforts to build an ecosystem of applications for Web 3.0. What does the interest in Web 3.0 mean for new cryptocurrencies like Dogetti(DETI)?
Promising blockchain project Metatime has announced that it has raised $11 million in private funding. Metatime raised the latest round of financing in a 2-stage seed sale. Investors in the funding round include Halkbank, Kalyon Holdings, Yildiz Technical University and Turk Telecom.
The latest round of funding will significantly bolster the project’s push to develop an expansive decentralised ecosystem for Web 3.0. Web 3.0, or the decentralised web, is called the future of the internet. Web 3.0 paints a picture of the future internet as an open, transparent, and decentralised space. Web 3.0 applications use blockchain technology for their decentralised architecture.
Cryptocurrency and the Opportunity of Web 3.0
An early criticism levelled against crypto was how its fractured nature though hugely beneficial on paper, cryptocurrencies existed in a world removed from the real world, with limited adoption and uses cases. But, as the internet becomes a more open and transparent network, cryptocurrencies benefit most from this shift. Web 3.0 allows cryptocurrencies to build ecosystems rivalling the traditional financial system. The ecosystems many cryptocurrency projects envision have the potential to be more attractive than the model put forward by the conventional financial system, with decentralisation being a core idea of these ecosystems.
By using blockchain technology, Web 3.0 applications forego the need for intermediaries for verification of the validity of their interactions. Likewise, cryptocurrencies offering financial services apply this principle to deliver their services without intermediaries, operating by the principles of Decentralised Finance (DeFi).
Against the backdrop of the growing popularity of DeFi and crypto ecosystems, Metatime raising significant funding from private investors is great news for cryptocurrencies, both new and established players. As the interest in Web 3.0 and DeFi grows, so will the flow of investor money to the projects engaged in these fields. This would, in turn, spur growth in cryptocurrency projects and the development of crypto ecosystems with decentralised applications. The growth in new crypto projects, the shift to Web 3.0 and the growing clout of DeFi will create organic growth in the crypto market, and bull runs in the offing for cryptocurrencies with functional decentralised ecosystems in place.
Is There a Bull Run in the Offing for Dogetti?
Cryptocurrencies that are moving to establish deep ecosystems that will host decentralised applications have bright long-term prospects, and the same stands for Dogetti. Dogetti is a blockchain project focusing on creating a comprehensive ecosystem around its native token DETI. The Dogetti is fully subscribed to the idea of a DeFi ecosystem and shifting wealth from the traditional financial ecosystem to the DeFi ecosystem it will provide.
Dogetti places the values of collective decision making and community centricity at the core of its ecosystem. The Dogetti DAO will allow its community members to vote on any decisions about the network. The Dogetti ecosystem looks to build a financial ecosystem with its users at the centre of decision-making.
As investor attentions shift to projects focussing on blockchain-based digital ecosystems, the Dogetti and DETI stand to gain a lot. DETI will have the market’s confidence through its ecosystem and plans for DeFi projects on it. This, in turn, can catalyse bull runs for the Dogetti and others with plans to develop deep crypto ecosystems.
Dogetti (DETI)
Presale: https://dogetti.io/how-to-buy
Website: https://dogetti.io/
Telegram: https://t.me/Dogetti
Twitter: https://twitter.com/_Dogetti_