Advertisement PDAX Banner

How to Keep Moving in Web3 Despite Bear Market

Photo for the Article - How to Keep Moving in Web3 Despite Bear Market

Subscribe to our newsletter!

[newsletter_form type=”minimal”]

Editing by Nathaniel Cajuday

  • During the BBB meetup on “Women of Web3, ” the all-women panel noted the importance of looking for the silver lining in the bear market, insisting that continuous learning is a must to go within the fast-changing web3 space.
  • To be able to keep up with the web3 space despite the bear market, the panel advised staying updated with news, subscribing to reliable news sources, practicing DYOR, and being cautious of impostors and scammers online.
  • The women trailblazers also reminded web3 natives to be observant enough to avoid bad actors in the industry.

The all-woman panel consisted of Atty. Marian Vanslembrouck, the Associate General Counsel of Enjin Blockchain, Teresa Pia, co-founder of the web3 gaming guild Real Deal Guild; Vanessa Barrameda, general manager of end-to-end web3 solutions X3; and Sheree Gotuaco, founder and CEO of Blue Chip Arts NFT Launchpad ScarletBox, as the moderator, at the March meetup of Bitcoin, Beer, and Bitstories (BBB) called “Women of Web3” on March 30, 2023, highlighted their key learnings in the web3 space and how everyone can keep learning within it. 

Panel’s Key Takeaways in the Space

According to Pia, being in ‌space taught her to always look at the silver lining:

“For me, I already gave up my career, it’s like now or never. I have to go forward because there is no turning back. That’s why I always look at the silver lining, and I also spread it because it’s (currently) bear season.”

Advertisement PDAX Banner

The Real Deal Guild co-founder also stated she is currently spreading motivational statements on social media like Twitter because if someone like her with several crypto assets has been really affected by the meltdown, how much more would it have affected those who only have numbered assets. According to her, because of the current bear market, some of Real Deal’s guild members have already gone back to web2. 

Meanwhile, Vanslembrouck emphasized the importance of continuous learning within the space, sharing that she realized how fast everything changes because when she started studying law, they didn’t talk about the blockchain and the crypto market in school because they do not have a subject on blockchain.

“There are so many things you have to continually learn. Especially for us in the legal field, before when I was still handling land, family, and crime (cases), you would maybe get a landmark piece in one or two years and that would be considered quite fast-moving. But in blockchain, every other week, something is happening,” she shared. 

On the other hand, Barrameda pointed out that everyone, especially developers, in the space should “never sit on your laurels, never be complacent, and always upskill”:

“AI (artificial intelligence) is here; let us not allow AI to replace us, we have to upskill ourselves. Always and  never stop learning.” 

Panel’s Advice on How to Keep on Moving in the Web3 Space

To keep up with the recent happenings in the space, Vanslembrouck shared that she uses an app to keep track of the news and receive alerts when certain keywords or topics have new information available. 

While for those who do not have the time to read every single article about the recent news, Barrameda shared that she instead listens to the news on platforms like Youtube. She also noted how important it is to subscribe to reliable news sources. 

“It is really difficult for us now to decipher which is real and which is not, so only subscribe to legitimate sources. That’s how you should get your news, and that’s how you keep yourself updated,” she added. 

Photo for the Article - How to Keep Moving in Web3 Despite Bear Market

Moreover, Pia reiterated the significance of do-your-own-research (DYOR), which is widely practiced in the community. According to her, new crypto investors or even veterans must not just believe whatever influencers or media personalities say; they must verify the information themselves through legit sources. 

“It’s a bear market, but you have to keep moving, you have to continue to seek opportunities because there are a lot of opportunities in web3, you just have to find it. You just have to search for the right opportunity for you,” the guild founder affirmed, pointing out that she is still very bullish on crypto.

Panel’s Reminders to the Web3 Community

Aside from giving advice on how to keep moving in the web3 space despite the market downturn, the women trailblazers also reminded ‌web3 natives to be observant enough to avoid bad actors in the industry.

“Whenever someone messages you, double check the name, because scammers are super smart right now,” Barrameda reminded, noting that there are a lot of impostors in the space that are trying to dupe people into their schemes. 

While for Vanslembrouck, people should note that the phishing scheme masked with offering jobs is also currently active, and they should first verify if the person they are dealing with is real. 

She stressed that most of the time, PDF files or links contain malware. The same scheme was actually used in 2022, which triggered the Ronin hack that led to play-to-earn game Axie Infinity suffering an exploit of 173,600 Ethereum (ETH) and 25.5 million USD Coin (USDC) which was worth a combined $625 million at that time. 

Pia also cautioned regarding links being spread on Discord, a communications platform used by several crypto communities. 

This article is published on BitPinas: Women of Web3 Shares Tips to Keep Moving in Web3 Space Despite Bear Market

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.