The term “metaverse” has been tossed around with reckless abandon over the past few years. From flashy product launches to corporate rebrands, the idea of persistent virtual worlds where people live, work, and play has captured mainstream attention—only to fizzle under the weight of speculation, half-baked platforms, and cartoonish avatars.
Many now see the metaverse as nothing more than a marketing gimmick or a niche playground for gamers and tech bros.
But that perception misses a deeper truth: the metaverse isn’t a gimmick—it’s a technological layer still in its early, awkward adolescence.
What matters isn’t how it looks today, but what it enables tomorrow, especially when paired with Web3 and decentralized infrastructure. The ongoing evolution of the metaverse reveals practical applications already taking shape across various sectors.
The Early Hype—and Its Fallout
The first wave of metaverse hype made big promises:
Innovative Virtual meetings would replace offices resulting in business growth.
Avatars would represent us in every aspect of digital life.
Brands rushed in with NFTs and branded plots of virtual land.
Yet, as Alessio Vinassa, entrepreneur and a key figure in the Web3 space, points out:
“When any new technology is framed as a replacement for the old, it’s destined to disappoint. The metaverse isn’t about replacing reality—it’s about enhancing digital experience through ownership and immersion.”
The problem wasn’t the idea—it was the execution. The metaverse didn’t fail; it simply wasn’t ready.
What the Metaverse Actually Is
At its core, the metaverse is:
A network of immersive virtual spaces
Persistent and interoperable (in theory)
Enhanced by AR/VR, AI, and blockchain
Social, interactive, and increasingly programmable
It’s not about gimmicky avatars or crypto speculation. It’s about creating and developing digital environments where people can work, learn, collaborate, and express identity—while owning their data and digital assets.
The Role of Blockchain and Web3
Decentralization gives the metaverse a long-term foundation that walled gardens cannot:
NFTs enable ownership of digital goods—avatars, land, credentials, skins, documents.
DAOs govern virtual communities with transparency and consensus
Interoperable identity means your digital self isn’t locked into Meta, Roblox, or any one app.
In short, Web3 ensures you don’t just use the metaverse—you can co-own it.
As Alessio Vinassa explains:
“Digital spaces without ownership are digital prisons. Decentralization gives the metaverse its freedom—and its future.”
Real-World Use Cases Emerging Today
While much of the press has focused on gimmicks, real utility is quietly unfolding:
1. Education and Training
Universities and enterprises are using metaverse environments for:
Virtual labs and simulations
Immersive language learning
Soft skills training (e.g., empathy through perspective-shifting VR)
Example: Medical schools using VR to simulate surgeries, improving learning outcomes.
2. Virtual Collaboration for Remote Work
Rather than endless Zoom calls, 3D environments allow for:
Team meetings with shared spatial context
Whiteboard sessions, prototyping, and design
Persistent workspaces that mimic physical offices
Companies like Microsoft are investing in this intersection of XR and productivity.
3. Immersive Commerce
Retailers are experimenting with:
Virtual showrooms
Digital try-ons (via AR/VR)
Metaverse-native goods with NFT-linked real-world perks
It’s not about gimmicks—it’s about experience-driven shopping.
4. Cultural and Social Spaces
Art exhibitions, film festivals, and concerts are already happening in metaverse spaces—especially in platforms like Decentraland and Spatial.
These events often feature NFT ticketing, digital collectibles, and audience interaction.
5. Digital Identity and Expression
The metaverse allows people to explore identities, cultures, and interests in ways the physical world might limit.
Blockchain adds permanence and ownership to that expression, moving beyond just avatars to full digital personhood.
Dispelling the Gimmick Narrative
It’s easy to write off the metaverse as a failed trend. But real technologies evolve behind the scenes, not in the headlines.
The internet in 1995 looked like a toy.
Smartphones seemed unnecessary until apps redefined utility.
Cloud computing was “too abstract” until it became foundational.
The metaverse is simply in the infrastructure phase—still building the roads, power grids, and plumbing before the cities can thrive.
As Alessio Vinassa puts it:
“It’s not about whether the metaverse is hype—it’s about whether we’re asking the right questions. Who builds it, who owns it, and who benefits?”
Key Takeaways
The metaverse is not just about flashy visuals—it’s about immersive, interactive, and persistent digital experiences.
Real-world use cases in education, work, commerce, and culture are already proving value.
Web3 enables user ownership, identity, and governance in the metaverse.
Skepticism is valid, but confusing early stumbles with failure is shortsighted.
Visionaries like Alessio Vinassa are helping to guide the metaverse toward sustainable, human-centric design internationally.
Conclusion
The metaverse may have over-promised early on, but it’s far from a failed experiment. It’s a long-term infrastructure shift—one that reimagines how we connect, learn, work, and create in digital spaces.
With decentralization as its backbone and real use cases taking shape, the metaverse is evolving beyond the gimmick into something far more meaningful.
Next in Series: GameFi is a Ponzi Scheme: Rethinking Incentives in Play-and-Earn Models We’ll explore the economic assumptions behind GameFi, debunk the Ponzi narrative, and highlight models that focus on gameplay, sustainability, and community ownership.
BeInCrypto had the opportunity to sit down with Laura K. Inamedinova, Chief Ecosystem Officer at Gate.io, during the Next Block Expo, The Blockchain Festival of Europe 2025. As one of the leading figures in the Web3 and crypto space, Laura shared her insights on the current state of the venture capital industry, its challenges, and the exciting opportunities emerging in 2025.
In this interview, Laura discusses the factors that are shaping the future of Web3 venture capital, the potential for stablecoins and real-world asset tokenization, and how global regulatory advancements are paving the way for more institutional involvement in the sector. Her expertise offers valuable guidance for anyone looking to understand the next phase of crypto and blockchain development.
The Resurgence of Web3 Venture Capital: Key Drivers for 2025
BeInCrypto (BIC): Given the challenging VC landscape in 2024, what factors do you believe will drive a potential resurgence in Web3 venture capital activity in 2025?
Laura K. Inamedinova (LKI): After a tough 2024, I think we’re finally seeing the pieces fall into place for a strong Web3 VC comeback in 2025. Regulations are becoming clearer; the US is dropping major lawsuits like Ripple, and Trump announced a $17 billion crypto reserve.
That shift alone has already brought results: we saw $861 million in crypto VC deals just in Q1, which is a clear sign of renewed confidence. What’s also fueling the comeback is global capital.
For example, Gate Ventures launched a $100 million fund with UAE last year, and Abu Dhabi invested $2 billion into Binance, positioning the region as a new hotspot for Web3 investment. Overall, Web3 venture capital activity is shifting back to the early stage. In 2024, 85% of VC deals were seed or Series A, backing infrastructure-first projects like modular chains like Celestia and Move-based networks like Movement Labs.
Institutional Involvement and Regulatory Advancements Shaping Investment Strategies
BIC: Last year marked the rise of institutional involvement in Web3 and regulatory advancements for the industry. How do you see these factors influencing your investment strategy in the coming year?
LKI: This has been a cycle of contrasts. Retail chased hype-driven meme coins, while institutions played it safe, focusing on stablecoins and tokenized assets.
Regulatory clarity is now reinforcing that shift: MiCA in Europe and new US frameworks under the Trump administration are making yield-bearing stablecoins and risk-adjusted RWAs like tokenized treasuries more attractive. In a high-interest-rate environment, these assets offer stable returns – a much safer bet for serious investors.
Our investment thesis aligns with this institutional trend, focusing on RWA tokenization platforms and stablecoin ecosystems. By backing the infrastructure that enables compliant, scalable adoption, we position ourselves at the core of crypto’s institutional evolution.
Consumer-Oriented Solutions in Web3
BIC: Which areas of Web3 (e.g., NFTs, DeFi, DAOs, etc.) do you believe will maintain its momentum into 2025, and why?
LKI: To predict the next big narratives, we need to understand what’s holding the market back today. Most projects have been heavily B2B-focused, catering to existing industry players rather than expanding the ecosystem by attracting a fresh audience from Web2. This inward-facing approach has limited mainstream adoption. It created an echo chamber where innovation circulates among the same user base without reaching new consumers.
Put simply, for one project to win, three others need to die. The true winners of this cycle will be those who shift their focus to consumer-oriented solutions, designing products and experiences that resonate with everyday users. By prioritizing accessibility, usability, and real-world value, these projects will finally break the cycle and catalyze the beginning of the bull market.
Apart from the B2C focused apps, I see strong potential in AI, RWA, and payment solutions. It goes without saying, AI is here to stay. But instead of simple ChatGPT-wrapped AI agents, we’ll see more advanced, integrated solutions with real-world applications, including robotics.
This will unlock a ton of new use cases in automated security, AI-driven trading, and on-chain decision-making, to name just a few. I see AI transforming from an external tool into a fundamental layer of Web3. RWA tokenization will continue to gain momentum, especially with the integration of AI-powered RWAs.
Major institutions like State Street are already exploring AI-driven tokenized bonds and money market funds. There’s a growing alignment between traditional finance and blockchain. This isn’t a niche development – it’s an opportunity to unlock liquidity in a $70 trillion+ asset class. With RWA tokenization projected to surpass $50 billion by the end of 2025, the addition of AI will introduce automation, scalability, and transparency – critical elements for mass adoption.
Payments will also be a key driver. Stablecoins are seeing increased adoption for cross-border transactions, remittances, and on-chain settlements. Regulatory clarity and improved UX will accelerate this trend, making stablecoins a core component for the future of global finance.
Bartek Juraszek of BeInCrypto speaks with Laura K. Inamedinova at Next Block Expo
Stablecoins as Core Infrastructure for Venture Capital
BIC: Stablecoin development attracted significant venture capital in the last quarter of 2024. Do you see this trend continuing, and what specific aspects of stablecoin projects are you prioritizing?
LKI: Stablecoins were a major VC focus in late 2024, and I see that trend continuing in 2025. Just in Q4, stablecoin projects pulled in $649 million across nine deals; that’s nearly 18% of all crypto VC funding. We’re also seeing strong signals from traditional finance: Fidelity is testing its own stablecoin, and Trump-linked World Liberty Financial launched USD1.
With over $239 billion in stablecoins already in circulation, this space isn’t just growing, it’s becoming core infrastructure for payments, trading, and settlements across both DeFi and TradFi.
What’s getting the most attention now is the rise of gold-backed stablecoins. Tokens like Tether’s XAUT and Paxos’ PAXG now hold a combined market cap of over $1.4 billion, a massive jump from just $12 million in 2020. These asset-backed models bring real-world value on-chain and offer protection against inflation, which is super attractive in today’s macro environment.
Based on this, we’re prioritizing stablecoin projects that have strong collateral models, clear regulatory paths, and real use cases beyond speculation, especially those bridging into RWAs or global payments.
Innovations in DeFi and Infrastructure
BIC: DeFi and Infrastructure followed closely behind the top categories. What specific innovations within these sectors are you most excited about for potential funding in 2025?
LKI: I think in DeFi, the real momentum is getting toward projects that merge automation with usability and compliance. One standout is DeFi Agents AI ($DEFAI), which raised $1.2 million in January 2025, backed by GameFi.org and eesee.io. It is building an AI trading assistant layered with restaking mechanics. So, you’re not just trading; you’re staking for revenue share and training custom models.
Add to that tools like Griffain, which reduces impermanent loss by 22%, and VaderAI, running 10,000+ on-chain transactions daily, and you start to see a new class of DeFi products built for scale, efficiency, and real usage. As MiCA 2.0 rolls out in Europe, platforms that offer AI-powered compliance and risk tools will stand out in both funding rounds and user adoption.
From an infrastructure perspective, we’re seeing strong capital flow into AI-ready backend systems that support these DeFi layers. CoreWeave, backed by over $1.1 billion from Nvidia and Microsoft, is scaling AI-optimized data centers that can support up to 5 million DeFi agents per site.
On the enterprise side, Cisco’s acquisition of strong intelligence and deeper insights AI shows how serious legacy tech firms are about owning the infrastructure layer. For investors, this is where the edge is. Make sure to check out projects that are building the high-speed, compliant infrastructure that will quietly power the next wave of DeFi and on-chain automation.
Not Just Meme Coins and AI Agents: Is Web3 Maturing?
BIC: The last couple of months suggested a shift away from meme coins and AI agents. What do you attribute this change in investor sentiment to, and what does it suggest about the maturity of the Web3 market?
LKI: The recent shift away from memes and AI agents reflects a growing maturity in the Web3 market. Meme coins, while often popular in speculative cycles, generally lack real utility, making them unsustainable in the long run.
AI agents are still in their infancy – most projects offer similar functionalities, suffer from technical limitations, and remain too buggy for practical use. As the market matures, investors are becoming more discerning, prioritizing projects with tangible value, strong fundamentals, and real-world applications.
This shift suggests a move toward more sustainable narratives, such as payments, RWA tokenization, and infrastructure, signaling that Web3 is evolving beyond hype-driven trends into a phase of real adoption and long-term growth.
BIC: What types of projects and what qualities of projects are you most looking for in 2025?
LKI: We have multiple criteria when evaluating projects with the best fit for our venture arm. First, we’re looking for projects that are led by experienced founders with a proven track record in Web3, ideally with a successful exit in the past.
Second, we prioritize businesses with existing investor backing, whether in the current or previous rounds. We evaluate each project on a case-by-case basis, but our investment thesis generally revolves around stablecoins, payments, new technology, infrastructure, and US-based projects.
Third, we take into consideration the project’s valuation, tokenomics, and burn rate.
Last but not least, we assess the company’s ability to drive real-world adoption, offering solutions with a clear path to mainstream success.
Conclusion: Venture Capital in Web3
BIC: How do you balance the pursuit of emerging trends with the need for sustainable, long-term value creation in your Web3 investments?
LKI: One of the clearest signals this cycle has been the rise of AI agent coins – they hit a $16.6 billion market cap early in 2025. It shows that when you combine a viral narrative with actual user engagement, there’s staying power.
From there, we saw that the bigger trend wasn’t just AI; it was AI fused with tokenization. Projects like Centrifuge, which tokenizes real-world assets like invoices and real estate to unlock liquidity for businesses, are doing exactly that. They’re not hype plays; they’re solving real inefficiencies in traditional finance using on-chain rails.
We’re also seeing strong signals from early-stage modular blockchain ecosystems that are building quietly but with clear scalability goals. We lean into trends but only when the tech underneath has the foundation to last.
Laura K. Inamedinova speaks at NBX
About Laura K. Inamedinova
An award-winning serial entrepreneur, investor, and keynote speaker sharing her insights on Web3 space since 2016. She currently holds a dual role within the Gate ecosystem, managing the global growth of the exchange and attracting new investments to its venture arm – GVC.
In her position as a CGEO at Gate.io, she builds cross-border partnerships and as a Principal at Gate Ventures, Laura oversees investments, partnerships, and development of the fund.
Before joining Gate.io, she founded a Web3 marketing agency, LKI Consulting, which she grew to 8-figures. This led her to be globally acclaimed as one of the “10 Women Entrepreneurs” by Entrepreneur Magazine and among the “Top 10 Women in International Business” by Silicon Valley Times. She was named one of Forbes’ 30 Under 30 Blockchain Visionaries, recognizing her impact on the global crypto ecosystem.
On a personal level, Laura is a successful angel investor with 40+ projects in her portfolio, an ex-Forbes and Huffington Post columnist, and an internationally renowned speaker with a track record of 156+ conferences in 25+ countries.
About Gate.io
Gate.io is a global cryptocurrency exchange platform that facilitates the buying, selling, and trading of over 3,800 digital assets. It offers a variety of products and services, including spot and futures trading, staking, decentralized finance (DeFi) solutions, Web3 wallets, and educational resources.
Additionally, Gate.io provides a range of tools for managing crypto investments, such as exchange wallets, live market data, and token airdrops. The platform also emphasizes security with robust measures like proof of reserves and offers services like Gate Pay for sending and receiving cryptocurrencies.
Back in 2008, Facebook changed the gaming industry overnight. Games like FarmVille and Mafia Wars went from zero to millions of players thanks to frictionless distribution, viral mechanics, and built-in social hooks.
But the window closed quickly, and only a few saw it coming. Today, we’re at a similar inflection point. The platform this time? Telegram.
With nearly 1 billion monthly active users, Telegram is one of the world’s largest messaging platforms, and one of the most underestimated in terms of what it’s becoming.
While known for its privacy-focused features, Telegram is becoming more powerful. It is crypto-native at the infrastructure level and is integrated directly with the TON blockchain.
This integration means Telegram comes pre-equipped with a full-featured, yield-bearing wallet. For millions of users, especially outside the United States, Telegram Wallet already functions much like a bank account. It’s used to store assets, make purchases, and earn passive rewards.
This embedded financial layer opens new possibilities for developers, especially in web3 gaming.
Instead of relying on third-party wallets like MetaMask or explaining complex onboarding flows, developers can launch experiences directly into an ecosystem where users are already transacting with crypto.
At GOAT Gaming, we’ve seen this impact firsthand. Players who spend using TON, Telegram’s on-chain wallet, spend four to ten times more than those who transact through Stars, Telegram’s fiat-linked in-app currency.
These users aren’t just more comfortable with crypto. They’re more committed, more active, and more valuable.
How Telegram Turned Digital Gifts Into Real NFT Volume
Telegram’s transformation accelerated earlier this year with the launch of collectible gifts. These limited-edition digital items can be sent, upgraded, and now traded within a native marketplace. Introduced in January, many of the first collections sold out in minutes.
Creators also gain access to new features through community boosts and audience engagement. Upgraded gifts can be minted and traded as NFTs, allowing users to hold them as assets and participate in secondary markets without leaving the app.
The traction is already visible. As of June 9, 2025, Telegram Collectibles recorded $9.7 million in weekly NFT trading volume, according to a Dune dashboard tracking TON-based assets.
By comparison, Ethereum NFTs saw $3.6 million in volume over the same period. The pace of adoption mirrors the early days of the 2021 NFT boom, but with one key distinction.
There are no wallets to install, no dApps to navigate, and no bridges to cross.
Why We Believe Telegram Collectibles Will Replace Traditional User Acquisition
At GOAT Gaming, we’ve seen firsthand that Telegram Collectibles are far more than aesthetic add-ons. They’re becoming a foundation for community-driven marketing, referral loops, wallet onboarding, and player reactivation.
These collectibles create both emotional and economic hooks. When a gift carries real value, users are more likely to engage.
This shift points to something bigger: a move away from performance marketing toward gameplay that drives acquisition and retention on its own.
Collectibles do the heavy lifting, building connections, signaling status, and encouraging spending behavior in ways ads rarely achieve.
Together, these elements create a seamless environment for digital commerce, social interaction, and ownership. They also make Telegram an increasingly viable platform for Web3 gaming to scale.
Game studios like GOAT Gaming are already experimenting with gifting mechanics that drive referral loops, reactivations, and real-time campaigns.
In one recent example, we launched a Telegram-native raffle that offered gift rewards tied to gameplay actions.
Within two weeks, the campaign had onboarded hundreds of thousands of players, driven tens of thousands of completed wallet connections, and created what would have cost hundreds of thousands in user acquisition spend through traditional channels.
This shift toward community-gated gameplay is already unfolding. We’re building new experiences that treat collectibles not as cosmetic profile flexes but as core infrastructure.
What Telegram Collectibles Are Really Unlocking for Game Developers
In our upcoming game, Underground Pepe, we’re giving real utility, from unlocking progression rewards to enabling gameplay features and signaling in-game status.
Players join Pepe as he builds a chaotic underground empire, scheming, and stacking NFTs and Telegram Collectibles.
They earn by operating their rug factory, reinvesting into more collectibles, and unlocking new gameplay loops that mirror Telegram’s trading, gifting, and meme-driven energy.
Ultimately, we believe Telegram has already laid the groundwork for what Web3 infrastructure should look like.
For developers paying attention, Telegram already offers the infrastructure, reach, and engagement that most platforms are still trying to build. Ignore it, and you’ll miss Web3 gaming’s biggest player acquisition funnel in years.
Solana has seen impressive price gains recently, reaching a two-month high and coming close to breaching the $180 mark.
However, it faces a crucial resistance level that has kept the altcoin from pushing past $200. With market conditions and investor behavior at play, the journey to $200 may be challenging for Solana.
Solana Investors Move To Sell
Many Solana (SOL) holders are choosing to book profits, contributing to a rising Realized Profit/Loss ratio. This indicator has surged to 15.0, signaling that excessive selling could be a concern. Historically, when this ratio crosses the 10.0 threshold, it often leads to short-term price corrections.
This profit-taking behavior could also exacerbate market volatility, potentially delaying or halting Solana’s rally. The influx of sales could weigh on the price, even as Solana has managed to make significant gains over the past month.
Solana’s technical indicators also suggest that its bullish momentum might be nearing saturation. The Relative Strength Index (RSI) currently sits above 70.0, placing Solana in the overbought zone.
This suggests that the altcoin’s rally could be reaching its peak, similar to what occurred in mid-January 2025, when Solana’s price saw a drop after hitting similar levels. The RSI, combined with investor behavior, signals that Solana’s price may be nearing a short-term decline.
Solana’s price has surged by 61% over the last month, trading at $170 at the time of writing. The altcoin is just under the resistance of $180, not too far from the long-awaited $200 mark.
If the current momentum continues, Solana could break past this resistance and rally towards the $200 milestone, sparking further interest and investment.
However, the factors discussed above may cause concern for Solana’s price. The combination of increased selling pressure and overbought technical indicators could lead to a reversal.
In this case, Solana’s price may fall to $161 or lower, with the $148 level potentially becoming the next key support. This would keep the 3-month barrier of $180 intact, delaying the long-awaited breakthrough.
On the other hand, if the SOL being sold is absorbed by new investors, and the price can hold its gains, Solana may push past the $180 resistance. This would open the path to $200, invalidating the bearish outlook and continuing its bullish trend. Such a move would require sustained market confidence and demand to overcome the current barriers.
