- Harrison Gwinnett, the founder of Unus Labs, is building a Web3 technology company from the ground up.
- Unus Labs aims to create an ecosystem for a decentralized internet, with a focus on virtual avatars that provide users with a consistent identity as they move between Web3 platforms.
- Gwinnett believes that Web3-focused technologies offer a business without a ceiling, but acknowledges the challenges in gaining traction in the developing Web3 marketplace.
As the world continues to evolve, technology keeps on advancing, with the advent of Web3. The decentralized internet is currently being developed, with blockchain technologies being utilized to enable transactional models using tokens and cryptocurrencies. In the midst of all these changes, Harrison Gwinnett, founder of Unus Labs, has set his sights on building a Web3 technology company from the ground up. In a recent interview, he revealed his motivations for entering the competitive and technology-driven sector that has yet to be fully defined.
Web3 is still a work in progress, with nobody entirely certain about what it will look like as it develops. The likes of Meta have spent billions on Metaverse and Web3 projects, leaving little room for startups that are starting their technology journeys from scratch. However, Gwinnett believes that there is still space for startups to compete, offering a business without a ceiling, and that they have the luxury of being able to stay lean and focused.
Unus Labs was created to develop an ecosystem for a decentralized internet, focusing on virtual avatars that provide users with a consistent identity as they move between Web3 platforms. By building a core product like Virtual Versions, Unus Labs also provides a wallet for keeping digital information in one place while managing an online identity across multiple platforms. The company also provides tokens for online purchases and access to virtual worlds.
With the development of Web3-focused technologies, Gwinnett believes that the business without a ceiling is achievable, and the opportunity to establish a strong position in the market by focusing on the avatar market, which is challenging to make if they are to look realistic, but with a high demand. However, he acknowledges the challenges, not least in terms of finding software developers.
Web3 development is a highly competitive landscape, and only time will reveal the winners and the losers. Nonetheless, there is much potential in Web3, with many routes to carve out a niche within the Web3 universe when it becomes a mainstream reality. The ultimate goal is to create an alternative to Meta’s vision of the Metaverse, building the ecosystem through partnerships, with the potential for the future, offering exciting possibilities.
Another challenge is finding the right talent to build a Web3 company. According to Gwinnett, “We’re hiring the best talent we can find, and they’re incredibly hard to come by.”
Despite the challenges, Gwinnett remains optimistic about the future of Web3 and the potential for startups to succeed in this space. He sees Meta as his competition, but believes that startups have the advantage of being able to stay lean and focused. He also stresses the importance of execution, and says that his company’s focus on avatars and online identity management gives them a chance to establish a strong position in the market.
Building a Web3 company from the ground up is a challenging task, but for those willing to take the risk, the potential rewards are significant. As Gwinnett says, “The prize is to create an alternative to Meta’s vision of the Metaverse, building the ecosystem through partnerships.” With the right idea, the right team, and a lot of hard work, it’s possible to build a successful Web3 business and carve out a niche within this exciting and rapidly-evolving industry.