Navigating the Future: Understanding Key Success Factors and Challenges in Web 3 Entrepreneurship

The emergence of Web 3, characterized by the integration of digital technologies such as artificial intelligence, machine learning, big data, and blockchain, has the potential to revolutionize traditional business practices. This transformative phase, referred to as Web 3 entrepreneurship, is disrupting established industries and creating new markets, thereby driving economic growth and generating employment opportunities. However, the rapid pace of technological advancement presents complex challenges that necessitate exceptional adaptability and continuous learning within the evolving entrepreneurial landscape. This study aims to identify the critical factors for growth and success, as well as to explore the implications of this modern form of entrepreneurship. To achieve this, a Delphi study was conducted involving 30 industry experts, leading to the identification of four categories of key success factors: technological, individual, environmental, and organizational. The findings of this research revealed that while there are potential adverse environmental, social, and economic consequences, such as the risk of creating a digital divide and increased energy consumption, there are also opportunities inherent in this technology. These opportunities include the potential to mitigate these consequences by fostering greater transparency and trust in transactions, creating new decentralized ecosystem-based opportunities, and developing sustainable solutions to address environmental challenges.