Crypto, Web3, and Ducks at Web Summit

On the final day of the Web Summit , which we thought would be more relaxing, we got an enormous response to our Web3 messenger called Tingl.

This interest could have been caused by the proper buzzwords in the description, such as blockchain and Web3. Or perhaps the treats we provided, like traditional Ukrainian food, drinks, and swag, such as rubber ducks, pins, and stickers had something to do with it. The logo may have also been a powerful magnet: a duck wearing pixelated sunglasses is way too cool to ignore. Here I must praise my team's creativity.

Tingl is a decentralized, secure, and anonymous messenger where you can use your crypto wallet to authenticate. All messaging occurs over an onion network of nodes, with each node not knowing the message's source, destination, or contents.

Tingl is built on the BAMM protocol we've also been developing. There is a White Paper as well as some codebase already available. Next, we plan to use BAMM to develop a microblogging platform, something like a decentralized uncensorable Twitter.

On top of that, both the nodes and the client are open-source, which reminds me of the good old times when I was a 17-year-old nerd developing a viral console-based multi-messenger software for Linux called centericq used by hundreds of thousands worldwide.

Cryptocurrency was also a hot topic at Web Summit. Binance founder and CEO Changpeng Zhao shared his visionary insights into the growing value of cryptocurrencies and the growth of blockchain-powered Web3 capabilities. In his view, advanced technologies and the fundamentals behind cryptocurrencies will overcome market volatility.

The event was attended by some of the most important crypto and Web3 projects. Nicole Muniz , CEO of Yuga Labs , gave a glimpse into the booming popularity of the Bored Ape Yacht Club . Devin Finzer , CEO and co-founder of OpenSea , the world’s largest NFT marketplace, also weighed in on NFTs' popularity and influence on creator economies.

Given the large number of WS attendees representing the crypto industry, it was easy to conduct quality networking. Among the companies we met were: 727.ventures , a venture studio that builds and funds web3 projects; Blast Srl , an Italian social network for teenagers; and WORKONECT , a startup from Brazil that transforms the business ecosystem in its country, and many others.

Summing up the day of Tingl and BAMM: with the crypto winter and the decline in cryptocurrency prices, attracting investment in the Web3 sector will be increasingly more challenging. However, this is a positive thing for the industry, the number of low-quality products and scams will decrease. The biggest conclusion we came to after talking to dozens of crypto experts is that the need for anonymous and secure communication will only grow, so no crypto winter or crypto price drop will ruin this trend.

And what's next? We will be presenting Tingl and BAMM at the Blockchain Expo 2022 in London on 1-2 December. If you also happen to be there, let’s meet and talk!