Web3 Hub Davos 2024: LayerZero & Phygital Wednesday Recap

Wednesday at the Web3 Hub Davos began with an early morning closed session hosted by LayerZero Labs, at which the Future of Finance was deeply discussed by game changers from both traditional and new economies, including from Citi and Circle.
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In an opening fireside chat, Erik Voorhees and Bryan Pellegrino discussed the significance of Web3 and the LayerZero protocol, which as a protocol aims to connect blockchains. Erik emphasized the current financial system's reliance on permissions and gatekeepers, contrasting it with Bitcoin's ability to eliminate the need for permission, providing economic sovereignty. 

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Both Erik and Bryan highlighted the democratizing nature of Bitcoin and discussed its radical impact, comparing it to the transformative nature of the printing press.

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Regarding the stage of Bitcoin's development, Bryan noted that we are still in the early stages, and Erik acknowledged the progress but emphasized that Bitcoin has yet to become the world's base money. He expressed the importance of recognizing the significance of ETF approval, considering Bitcoin's status as the world's best-performing asset.

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Discussing LayerZero's interoperability and principles, Bryan underscored their importance, and Erik drew a parallel between protocols and language, stating that protocols are like language – not governed by anyone, yet adhered to by everyone, allowing users to decide how they want to utilize them.

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The Future of Finance was further discussed in a lively panel hosted by LayerZero's Simon Baksys. Ronit Ghose of Citi, Navroop K. Sahdev of The Digital Economist, Spencer Spinnell of Circle, and Yves Holenstein of Bitcoin Suisse contributed and were unanimous in their assertion that the future of finance is happening presently, new ways of transacting are already enabling economic resilience for generations to come.

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Immediately following the breakfast, Phygital Wednesday by PHYGICODE explored topics such as building fashion on chain, enhancing physical experiences with AR, wallets for digital fashion assets, networked products and beyond, providing attendees with a rich tapestry of insights and discussions throughout the day. Phygicode Founder, Andrea Abrams, opened the event highlighting the pillars of phygitality in 2024 and Phygicode’s mission to enhance physical products and experiences with immersive technology.

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The Phygital Wednesday program consisted of c-suite roundtable discussions and fireside chats covering topics about the new 3D internet Toolkit for our Phygital Lives and the Impact of Blockchain, AI and NFT Communities in our Phygital Economy. The day culminated with a cocktail event and the presentation of the Phygicode Impact Awards. Here are our 7 key takeaways from the Phygital Wednesday sessions:

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1. What is Phygital? The Fusion of Physical & Digital

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From 3D wearables and NFC-enabled hats to prestigious award ceremonies, Phygital Wednesday offered a diverse array of experiences that showcased how the new wave of phygitality is creating unified and immersive customer journeys and opportunities for brands exploring the power of 3D internet and Spatial Web.

Highlighting the core infrastructure for phygital commerce, Andrea Abrams started the program with a conversation about the engines of 3D internet with Threedium’s Mike Charalambous and Worldline’s Sascha Münger.

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2. The 3DMetadress in Davos!

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Phygicode wanted the audience to not only hear about these topics but also experience phygital product and community. One of the many experiences presented throughout the day was the introduction of the acclaimed 3DMetadress, a 3D-printed couture piece honoring 300 women in web3 and STEAM created by two Phygicode Consortium members.

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Phygicode wanted to bring the dress to Davos to honor the work of STEM leaders in Switzerland present CV Labs’ Tracy Trachsler and Fabiola Luna Huerta with their 3D printed names, celebrating their contributions to STEM in Crypto Valley. 

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3. The Future of Fashion

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Evolving trends such as advanced technologies including AI, 3D, extended reality, and geo-positioning were debated as key drivers of the future of Phygital fashion experiences. Phygicode Leadership and Consortium members spoke throughout the day about the many ramifications of web3-enabled phygitality for fashion and retail. Making his Davos debut, renowned Web3 cultural thought leader and educator, gmoney, joined the stage for a 1:1 conversation with Andrea Abrams about the future of “networked products” for fashion.

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Best known as the founder of 9dcc, the first crypto-native fashion luxury house to exist on the blockchain and for establishing the affluent digital first community Admit One, gmoney spoke about how 9dcc aims to integrate fashion and technology while redefining the concept of community and brand engagement. Also, during the day, the founders of Phygital Twin, Ownerchip and doors3 spoke about the power of Web3, XR and AI for improved customer engagement, operational efficiency and creativity.   

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4. Tech for Sustainable Fashion & Luxury Brands

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Speakers throughout the day highlighted the power of technology for the adoption of sustainable practices in the fashion industry. From digital samples to virtual marketing, speakers shed light on innovative solutions and best practices to reduce overproduction and minimize carbon footprints. Fashion is one of the most wasteful industries in the world, but thanks to new technology and consumer demand for more eco-friendly practices, that's starting to change.  

In addition to the speakers joining us on stage, Phygicode’s “5-minutes of Phygital Knowledge” segments, contributed via video by Phygicode Consortium members from Virtual Racks and Solaire, touched on the power of Web3 to deliver provenance and authenticity, a force driving the emergence of digital goods and experiences that can be owned, shared, and traded, enabling additional value and customer knowledge and engagement through secondary market.

5. Building a Phygital Fashion Collection

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9dcc founder gmoney spoke about the process of building a phygital collection and community. 

As one of the world's largest NFT collectors, gmoney serves as a futurist and authoritative voice on blockchain technologies. He spoke about the fusion of luxury, technology, and community in the digital age. Phygicode’s Head of Phygital Product, Eda Aguilar, also spoke to Andrea Abrams and 9dcc’s CBO Kenneth Loo about the issue of connecting physical and digital cultures in fashion.

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Andrea spoke about the lessons from prior tech disruptions in the 1990’s and early 2000’s leading to our current state of phygitality and new standards for brand loyalty and engagement. Kenneth explained that with over 5,000 "Networked Products" distributed and over 30,000 instances of "proof of presence," 9dcc has created a unique ecosystem that bridges the physical and digital worlds. They believe that community is the future of fashion consumerism.
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6. PHYGICODE IMPACT AWARDS

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During the program, PHYGICODE presented CV Labs with the Phygiocde Web3 Education Award, recognizing our pivotal role in advancing blockchain education by fostering growth and knowledge dissemination in the Web3 space and by incubating innovative projects within the ecosystem. The trophy consisted of a phygital piece by Phygicode Consortium Member Nayibe Warchausky, a world-renowned architect, sculptor and jeweler. During the evening cocktail event Phygicode presented the following Phygicode Impact Awards: Phygital Brand of the Year to gmoney of 9dcc, Phygital Impact Organization to Shannon Snow of World of Women and Phygital Infrastructure Leader to Alex Matsuo to Amazon Web Services.

Congratulations to the winners!

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7. Networking Apero

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The day concluded with a vibrant networking apero, co-hosted by Over the Reality and PHYGICODE, providing attendees with valuable networking opportunities and connections within the Web3 community. It was a moment to unwind, exchange ideas, and forge new collaborations in a relaxed setting. In addition to the presentation of the Phygicode Impact Awards, attendees heard from OVER the Reality’s Davide Cuttini, Diego Di Tommaso and Michele Zanello about the power of visual mapping and AR to achieve a more immersive phygital experience. Andrea Abrams joined them on stage to announce the launch of the new Phygicode SaaS x OVER the Reality initiative.

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In summary, Phygital Wednesday at the Web3 Hub Davos 2024 was a testament to the boundless possibilities at the intersection of physical and digital realms. Thank you to everyone who joined us in Davos and to our Wednesday partners LayerZero Labs, PHYGICODE, Over the Reality, Threedium, Chiliz, PhygitalTwin, OwnerChip, and Doors3.

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