After Lagos and Abu Dhabi, Web3 Delight to make its debut in Riyadh

Aiming to become one of the region’s mainstream events for Web3 and the metaverse, Web3 Delight is soon also making its debut in Saudi Arabia. One of the founding members of Web3 Delight is Paul Lalovich (also a partner at Agile Dynamics) – we spoke with him to find out more about the event’s offer and ambitions.

Early March, people from across the Middle East and world will come together in Riyadh to discuss the future of Web3 and the metaverse. Alongside the sharing of trends, developments and best practices, the event will provide players in the Web3 ecosystem with the opportunity to connect, and kickstart co-creation or even commercial opportunities.

Meanwhile, Web3 Delight Riyadh will also host a startup pitch competition (bringing together promising start-up founders with industry investors) and a hackathon (for students interested in exploring the field).

Now in its third edition, following the inaugural edition in Lagos in July 2022 and Abu Dhabi late last year, Web3 Delight Riyadh has assembled a cohort of bright minds and innovators in the Web3 scene to deliver keynotes, ranging from executives in banking to serial entrepreneurs, blockchain guru’s, and NFT artists, as well as Paul Lalovich himself.

Paul, first of all, what is all this hype around Web3 all about?

It is difficult to predict exactly how emerging technologies such as blockchain, Web3, and the metaverse will grow in the Middle East, but it is likely that they will have a significant impact on various industries.

Blockchain technology has the potential to increase transparency and security in various sectors such as financial services and supply chain management. Web3 and the metaverse have the potential to revolutionize the way we interact and conduct business online.

One of the top industries using Web3 is financial services specifically in the form of decentralized finance (DeFi) which is a digital asset-based financial system built on blockchain technology. DeFi allows for the creation of decentralized financial products such as lending, borrowing, and trading platforms.

Another industry that is exploring the use of Web3 is gaming, specifically in the form of non-fungible tokens (NFTs) which are digital assets that are unique and cannot be replicated or exchanged for an equivalent. NFTs are being used in the gaming industry to represent in-game items such as weapons, armor, and collectibles, and players can buy, sell and trade them on various platforms.

Other industries that are exploring the use of Web3 include supply chain management, digital identity, and real estate.

It’s important to note that Web3 is still a relatively new and rapidly evolving technology, and it's likely that we will see more industries adopt it in the future.

So where does Web3 Delight come in? What’s the vision of the event?

Web3 Delight is an event focused on Web3 across the growth markets and the technologies that power it, such as blockchain, decentralized finance and non-fungible tokens. The event brings together experts, developers, and enthusiasts in these fields to discuss the latest trends, challenges, and opportunities in Web3 technology.

The vision of the event is to educate and inspire attendees on the potential of Web3 technology to revolutionize various industries and to connect them with others in the Web3 community. The event is designed as a platform for sharing ideas, insights, and best practices for building decentralized applications and services on top of Web3, and for fostering collaboration and innovation in the Web3 ecosystem.

Overall, we believe (and have seen in Lagos and Abu Dhabi) that Web3 Delight is a great opportunity for participants to learn from industry leaders, network with peers, and explore new business opportunities in the Web3 space.

Why did you choose Saudi Arabia as the next destination for the event?

With a vision to engage, empower and support an advanced economy that is proactive, customized, collaborative and secure, Web3 Delight Riyadh is uniting both global and local Web3 players to paint the art of possible and facilitate cooperation opportunities towards enhancing the digital transformation ecosystem.

Web3 Delight is the first event of its kind in the Kingdom fully dedicated to Web3 tech and brining a unique blend of Web3 native tech leaders and traditional industry.

Saudi Arabia has been actively working to diversify its economy and become a leader in technology and innovation. The Saudi government has invested heavily in building a robust infrastructure and creating a favorable environment for technology companies to operate and grow.

One of the initiatives that Saudi Arabia has undertaken to promote technology is the Vision 2030 plan, which aims to develop the country's technology and digital infrastructure, and to create a thriving startup ecosystem.

Another reason why Saudi Arabia is an attractive location for a Web3 Delight is its strategic location at the crossroads of Europe, Asia and Africa, making it a hub for international business and trade. Additionally, Saudi Arabia has a young population that is highly educated and tech-savvy, which makes it an ideal market for technology companies to reach and test new products.

Finally, the Saudi government has been taking efforts to promote the country as a destination for business and tourism, which could be a catalyst for organizing a conference in the country. All of these factors make Saudi Arabia an attractive location for a tech conference, specifically one that focuses on Web3 technologies and innovation.

The theme of Web3 Delight Riyadh is ‘Build Your Own’. Can you elaborate?

The key message that has been resonating across the pathway of the Web3 Delight is ‘Build Your Own!’

We believe in technology sovereignty. We think people should be able to move freely between different technologies, platforms, and networks. We want to ensure that people can choose which technologies they want to use, and not be stuck with one because it's the only available option. Blockchain can be the future, but it’s up to us to forge the frontier.