VIDEO: Running a web3 company amid crypto winter | Invezz

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video: running a web3 company amid crypto winter | invezz


It’s been a horrendous year for crypto as a whole. The hysteria of the pandemic bull run came to an emphatic halt in 2022 with prices collapsing across the space.

We saw several scandals – LUNA’s death spiral, FTX’s egregious fraud and Celsius’ demise being the biggest examples – as crypto descended into chaos.

As prices crashed and capital fled the space, the metaverse area was among the worst affected. During the bull run, the term “metaverse” was floated around seemingly daily, slated to be the next paradigm of the internet.

Even Facebook rebranded as Meta in October 2021, signalling the term was really making a run at the mainstream. Looking back now, it served as the perfect “top” moment. Crypto prices peaked a few weeks later, and since then metaverse interest has been decimated. The below chart shows Google search data for the term “metaverse” grinding to a halt.

metaverse search term
video: running a web3 company amid crypto winter | invezz 4

But there are still companies out there building, despite this bearish climate. We interviewed one of these this week, as Pan Lorattawut, CEO of Vuca Digital, joined us to chat about the project she is leading, the Crown Token Project. Aiming to blend the world of entertainment and blockchain technology, Crown operates squarely in the midst of the web3 and metaverse spaces.

They recently allowed token holders to vote on characters in three upcoming movies, a true metaverse concept. Of course, this begs the question as to why blockchain was needed for this – something which Pan spoke about during the episode.

As well as chatting about the challenge of running a project in the midst of the crypto winter, Pan also discussed the general crypto space in Asia, and how it differs from the US or Europe.

She also described her journey from trad-fi to crypto, as well as a selection of other topics. 

Continue the conversation on Twitter with @InvezzPortal, @DanniiAshmore. Or visit or @CrownTokenClub for more information on Crown. 

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