It comes as no surprise that the City of Lights is trying to boost Web3 champions on the continent. French startup studio PyratzLabs is opening its doors in Paris with the aim of helping Web3 startups to scale up.
The idea of a decentralised Internet has been in the works for the last decade with the explosion of cryptocurrencies and blockchain, and there are arguably some early Web3 applications that already exist.
Big tech companies are already betting big on it and are even assembling Web3 teams; an infrastructure race is on and countries do not want to be left out.
Europe’s Web3 future
European governments have already highlighted the importance of building their own Web3 ecosystems. French president Emmanuel Macron, for instance, has said he wants Europe to have its own metaverse.
Although France is one of Europe’s champions when it comes to start-ups and tech companies, the country lacks support structures and physical workspaces for Web3 entrepreneurs, argues Bilal El Alamy, chief and co-founder of PyratzLabs.
He and two of the other company’s founders spoke amongst themselves about the evolution of blockchain and noted that while they France already had champions such as Ledger and Sorare, the sector needed help.
PyratzLabs will open its 1000m2 offices; dedicated to Web3 entrepreneurs, the massive space allows start-ups to meet and receive coaching from entrepreneurship and technology experts.
“PyratzLabs' mission is simple: guiding and facilitating. Web3 allows for new consumption methods that are currently blooming, especially in Paris which might become the European capital,” El Alamy told Euronews Next.
So far, half a dozen start-ups have joined and there is a keen interest from others.
“I'm receiving so many resumes of graduates lately that it kind of shows that there is this momentum and this new generation wants to jump in,” said El Alamy.
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