Date: Sunday, March 9, 2025
Hello, AEA365 community! Liz DiLuzio here, Lead Curator of the blog. This week is Individuals Week, which means we take a break from our themed weeks and spotlight the Hot Tips, Cool Tricks, Rad Resources and Lessons Learned from any evaluator interested in sharing. Would you like to contribute to future individuals weeks? Email me at AEA365@eval.org with an idea or a draft and we will make it happen.
Hello, we are Michael Cooper, a senior Researcher at Metagov, and Eugene Leventhal, Research Director at Metagov and lead of the Grant Innovation Lab. Metagov is a research consortium that advances evidence on the use of Web3 technologies, primarily blockchain, for creating public goods. We are excited to share insights about our collaborative project with BlockScience, a leading engineering firm in the space, to develop an Impact Handbook for Web3 grant programs.
While we understand Web3 technologies are largely unknown and misunderstood, the overwhelming increase in the volume and scope of applications using the technology has demonstrated a demand which requires evidence to guide its use. As such, Metagov, Blockscience and others have begun putting together research agendas to help meet the demand. An initial piece of that research agenda is helping Web3 grant programs evaluate their performance and adaptively improve.
The global blockchain market is projected to grow from $27.84 billion in 2024 to $825.93 billion by 2032, indicating significant user adoption and investment. Enterprise engagement is notable, with 56% of Fortune 500 executives actively working on on-chain projects, while the Web3 ecosystem boasts a cumulative market capitalization exceeding $27.5 billion. Developer interest is evident through increased downloads of core tools, and user adoption is expanding. Global awareness of cryptocurrencies (the first Web3 application in the form of Bitcoin) stands at 92%, with emerging markets showing particularly strong intent to use Web3 services, suggesting a broader acceptance and integration of these technologies across various sectors.
The Web3 space lacks effective impact measurement frameworks, which constrains its growth potential. Our Impact Handbook aims to provide grant program managers with best practices for designing and systematically evaluating their programs. Our team’s diverse background in program evaluation, impact measurement, blockchain development and research portfolio management allows us to generate and immediately test novel approaches.
This emerging field offers insights into novel evaluation methodologies, particularly in decentralized environments, which could inform broader evaluation practices. The emphasis on transparency and accountability through blockchain technology aligns with AEA’s values and could provide lessons for enhancing traditional grant evaluation processes. Web3 grants’ innovative approaches to community engagement in decision-making and evaluation offer fresh perspectives on participatory methods.
Lastly, understanding the application of blockchain and other Web3 technologies to grant management represents a significant technological shift that evaluators should be aware of to stay current in their field. By studying these new approaches, the AEA can remain at the forefront of evaluation practices and potentially incorporate valuable insights into their methodologies for assessing both traditional and emerging funding models.
We look forward to collaborating with AEA as we look for effective and ethical ways to improve the use of this technology through evaluative methods. We would love to hear from you.
Michael Cooper can be reached at mike@metagov.org, and Eugene Leventhal can be reached at eugene@metagov.org
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