WEBZ: A Decentralized Generation Z Divests
Our research team is proud to share our second JUV Yellowpaper. This Yellowpaper focuses on the future of the internet and explores topics centering around Web3, technology, and the Metaverse. This Yellowpaper compiles survey findings from our Receipt network of thousands of engaged Gen Zers. Find highlights from our research and purchase the full length report below.
Our generation’s relationship with Web3 and blockchain technology can be summarized in two words: it’s complicated.
But, unlike your situationship with that dude from Tinder, there is a path forward for Gen Z and Web3.
Despite challenges facing this space, the values and nature of Web3 technology align with attitudes expressed by Gen Z at-large. And our full report explores the future of these technologies and the potential for Web3 to address the pitfalls of Web2.
Results showed nearly 40% of Gen Z’ers had never heard of Web3, but this lack of awareness didn’t exclude us from interest in the investment space. One-third of respondents considered themselves likely or very likely to invest in Cryptocurrency, which was the most popular decentralized investment type for our generation.
This sentiment was underscored by results showing “not knowing where to start” as the biggest barrier to engaging with particular investment types.
Top 3 Investment Types for Gen Z
1 Cryptocurrency (33.2%)
2 NFTs (26.2%)
3 Digital Assets (22.6%)
What are the barriers to participation in a DAO?
Gen Z’s relationship with influencers and celebrities has further muddied their relationship with these technologies, where trust wavers based on the reputation of a given messenger. The celebritization of blockchain technology has created an air of “scamminess” in this sector, and 1 in 5 Gen Z’ers reported being afraid of scams as a key barrier to participation in DAOs.
” …Snoop Dogg, Paris Hilton, and Steve Aoki, all of them have legitimately invested in the community. I would say a good [crypto] drop from a celebrity perspective respects both the fanbase who are not crypto natives and the crypto degens…It’s a balancing act that requires listening to and empowering both sides by really speaking to their needs separately, just as much as finding commonalities between the two,” said Sara Wilson, Founder and Principal at SW Projects.
This report features 500+ respondents who were gathered from JUV’s proprietary database, The Receipt, alongside 11 interviews with industry leaders.