- IOTA market adoption team and SPYCE.5 founders, along with other key figures, have launched BUILD.5, a platform aimed at seamlessly integrating Web2 and Web3 technologies.
- BUILD.5 is designed to overcome common barriers to Web3 adoption, allowing organizations of any size to easily integrate and customize Web3 services.
A consortium of IOTA’s top contributors and innovators has joined forces to launch BUILD.5, an innovative platform purpose-built to enable seamless integration between existing Web2 and the emerging Web3 technologies. The group includes the former market adoption team of the IOTA Foundation and the founders of SPYCE.5, SoonLabs, and IOTA itself. Through their collective expertise in technology, market adoption, finance, decentralized infrastructure, and open source management, the goal of BUILD.5 is to maximize IOTA’s potential and its advantages for business and enterprise applications.
We are taking the strategic partnership with the SoonLabs team to the next level and are establishing BUILD.5 as a governance organization and business platform, to enable organizations to cross the chasm from web2 to web3 with ease. ⬇️#IOTA https://t.co/5BOpGz0miE
— Holger Köther ✨ (@HolgerKoether) June 13, 2023
The BUILD.5 infrastructure consists of two elements: a non-profit association dedicated to supporting and governing open source, decentralized technology with a broad societal and industry impact, and the open-source platform itself. The platform is designed to enable an effortless co-development experience for builders in both the Web2 and Web3 ecosystems. By capitalizing on the unique features of IOTA L1 networks, BUILD.5 aims to facilitate groundbreaking solutions.
The inception of BUILD.5 was prompted by the need to address the primary hurdles in the adoption of Web3 technology. Enterprises often struggle with integration due to incompatible systems, high implementation costs, lack of qualified staff support, or inadequate scalability. BUILD.5 addresses these challenges by offering an innovative Web3 core engine accessible through a suite of powerful, user-friendly implementation tools.
As an open-source product, it aligns with the ethos of decentralized technology, fostering a more accessible and equitable system of data and value distribution.
In adopting the advanced capabilities of the IOTA Tangle, renowned for processing transactions simultaneously, BUILD.5 is set to redefine blockchain performance benchmarks, potentially meeting the demands of enterprise adoption and signaling a major leap in the sector.
Since late 2022, the team behind BUILD.5, along with co-founder/investor David Sønstebø, have been working tirelessly behind the scenes to grow the organization, develop the platform, and establish enterprise partnerships leveraging the groundbreaking technology.
Further emphasizing its commitment to the IOTA network’s growth, BUILD.5 will also introduce a unique token, $BUILD. The token, set to be minted following the mainnet’s Stardust update, will give holders governance rights over the entire BUILD.5 platform. This token represents the joint effort of all founding team members and stands as a unique element of the BUILD.5 project.
In the future, BUILD.5 plans to share more about their enterprise partnerships, use cases, and product integrations, believing that the association and platform will become the backbone of mass IOTA network adoption, empowering enterprises and individuals to create novel, innovative solutions that could revolutionize various industries.