‘Get comfortable with discomfort’ for Web3 success: PBW 2023

The metaverse continues to be a hot topic in the Web3 space, as a group of industry professionals took to the Venus de Milo stage at

In the United States, this has already started to happen, according to Andy Albertson, partner and co-lead at Fenwick. He said it’s pushing “good, hard-working entrepreneurs” out of the country into others that are more receptive:

“It also creates an opportunity for countries that want to lean into this innovation and provide an appropriate level of regulation.”

For enterprises ready to jump into the space, Albertson said they need to “get comfortable with discomfort” to succeed in Web3. As the industry continues to grow, there are still a lot of “grey areas” to work with, he said, adding:

“You have to be comfortable with the strategic risk. I’m not talking about being reckless. I’m talking about marrying up the business opportunity with the risk that you couldn’t eliminate.”

Recently, Margrethe Vestager, the executive vice president of the European Commission, said that current legislation lags behind the technology. She also said that the Commission wants to ensure “healthy competition” in the metaverse in its jurisdiction.