Investors jumping into Web3 find the rules are not so simple

All over South-east Asia, private market investors are witnessing a shift in conversation and money flows. Some of the smartest people they know have started discussing Web3 – a next version of the Internet based on decentralised technology.

Engineers and top executives from the likes of Grab, Meta and Amazon are leaving to build Web3 startups. Funding is pouring into the space like never before, and seemingly out of nowhere, a unicorn has emerged from Vietnam after creating the global hit game Axie Infinity.

It's enough for tech investors – some who haven’t even made a definitive mark on the Web2 space – to ask themselves: Just what am I missing?