The dark side of Web3 entrepreneurship: An exploratory Delphi study on factors and implications

Web 3 entrepreneurship stands at the crossroads of decentralized technologies, exemplified by blockchain, and innovative business models, heralding a transformative wave in the digital economy. This paradigm shift is a harbinger of increased user empowerment, granting individuals more agency over their data, digital assets, and online identities. However, this transition is not without its multifaceted challenges.To discern and effectively address these challenges, we undertook a comprehensive Delphi study involving 30 experts in the fields of Web 3 technology, entrepreneurship, blockchain, and regulatory affairs. Our study brought to light a spectrum of expected and unforeseen hurdles, spanning issues from technological intricacies to individualistic tendencies like narcissism, along with broader economic and societal implications.The dynamic nature of the Web 3 landscape, marked by rapid evolution and ever-shifting demands, emphasizes the significance of our study as an indispensable compass for all stakeholders. This includes ambitious entrepreneurs seeking to harness the potential of Web 3, investors navigating the intricate terrain of opportunities, and policymakers sculpting the regulatory framework that will underpin this transformative ecosystem. Our study serves as an essential scholarly guidepost for all those venturing to embrace the prospects of Web 3 while effectively mitigating its attendant challenges, providing a roadmap for a new era of entrepreneurship in the digital domain.