The night began at 10 o’clock when organizers invited the crowd to step into a so-called metaverse. Attendees without screens were urged to wear virtual reality headsets and connect their devices, aiming to set a Guinness record for the number of participants linked to a single digital world. The plan unravelled as Wi-Fi stuttered, the app froze, and visibility remained limited. The Palacio de los Deportes filled with children in oversized glasses, each hoping to secure an avatar for Thawani in a pretend digital realm.
Ultimately, a pixelated video surfaced showing the Thawani doll offering an apology, saying, “Sorry we didn’t connect everyone to the metaverse. We brought in top technicians, but the network failed.” The footage wandered through scenes from a sunlit beach to a city of towering structures, all painting a vision of a new world with less reliance on public transport and fewer climate worries. Some younger viewers may not recall that, in 2003, before Facebook existed, there was a social network named after a concept that foreshadowed today’s virtual environments. Its graphics echoed early dreams among Canary youths two decades earlier, reminiscent of Second Life.
The event ended with a metaverse montage that drew applause as Michael Jackson’s Thriller played. The host briefly spoke about future projects, but the audience began to thin. It was past eleven at night, and most attendees in their twenties to thirties who had started at six remained until the end.
What should the Crypto World be like?
This edition of Mundo Crypto was not the first of the year. An earlier gathering in Madrid, at Casa de Campo, highlighted cryptocurrencies that were still riding a surge. Thawani faced accusations of manipulation—claims that buying a cheap token could push its value higher, prompting others to buy, inflating prices, and letting some profit by selling at the peak. It was a classic case of market manipulation.
As summer arrived, the crypto mood shifted. Market values dipped, and Mundo Crypto, along with its founder who had drawn dozens of traders in 2021, revised its rhetoric. In a pre-event press conference, it was stated that neither Mundo Crypto nor several sponsors held licenses to provide investment services. Thawani argued that the aim was not short-term gain but to present “a new model of decentralized education.” Plans included an academy offering entrepreneurship and investment courses, including cryptocurrency education.
This wouldn’t be the first time a self-styled mentor offered paid courses promising quick success. Similar stories include young dropshippers teaching how to build online stores with goods sourced from abroad, and IM Academy, a dispersed network promoting crypto investments. The Mundo Crypto concept centers on what it calls “responsible mass adoption.”
Before Thawani took the stage, the program unfolded as a string of presentations, some conducted in English with limited translation and uneven audio, interspersed with sweepstakes and audience games featuring a bitcoin prize and a car. Two speakers, founders of a crypto exchange, spoke about its financial hub in the Seychelles and a Singapore office, drawing lively applause. A moderator then described Thawani as a “Web3 entrepreneur” according to a web bio, though much of the content remained hard to parse. Outside the hall, vendors offered beer, virtual reality headsets, and arcade games—some older than Second Life.
Economists Daniel Lacalle, Juan Ramón Rallo, and Pablo Gil offered the most cautious notes. Lacalle opened with inflation, public spending, and interest rates, but warned that no asset is risk-free, localization can boost volatility, and the line between technology and asset investment must be clear. Rallo urged caution with “digital assets” beyond Bitcoin, while Gil reminded the audience that the biggest leap in technology remains the creation of the Internet and that many cryptocurrencies will fail, just as startups do. The overall mood was focused and attentive rather than hostile; most listened intently rather than scoffing.
The audience clapped, though softly. Four MPs from El Salvador attended and used the platform to advocate for Bitcoin as legal tender, though the impact was modest. Speakers claimed that adoption would make the country safer, and several attendees promised to visit El Salvador.
A young man asked his girlfriend to stay, and a moment in the crowd unfolded with the presence of a popular YouTuber known for the stance of holding firm amid price drops. His appearance underscored the ongoing tension between crypto enthusiasts and skeptics.
Although the original lineup included television presenters Cristina Pedroche and Jorge Fernández, regulatory warnings and media pressure led some sponsors to withdraw. Later reports suggested replacements, but none materialized. The lineup shifted, with other figures stepping in and out as the program evolved.
Organizers claimed 7,000 tickets had been sold at 47 euros each, with refunds offered so participation would be free while sponsors shouldered costs. The venue, with a 9,000-seat capacity, operated near full, and about 3,000 people watched on YouTube. Attendees fell into two groups: aspiring entrepreneurs and young workers from outside tech seeking a better understanding of crypto. Some attendees lamented the lack of detailed program information and the scarcity of crypto-themed booths across the venue.
“Let’s see if we get rich,” joked a Madrid resident named Rubén, a quality-control consultant who had invested in crypto gradually, treating it as a long-term bet with potential losses capped at what he had already risked. A group of friends from Alicante and Cuenca shared the same curiosity about the space. Biology and nursing students reflected on how they might be drawn into this evolving field, recognizing the chance to learn despite initial misgivings.
Thawani expressed gratitude to the attendees for their participation and the resilience shown amid intense media scrutiny. She acknowledged attempts to silence the movement and asserted that the crypto world stands for more than a financial tool, emphasizing its potential to reshape education and create new opportunities for many people.