With the excess of money and bright minds working on Web3, there has to be something there, right? While there certainly is some utility in crypto and Web3, the majority of new “web3” solutions are, on an absolute basis, inferior products compared to what Web2 offers today. It’s easy to get caught up in all the “great new Web3 projects” launching improvements over the current Web3 status quo: faster payments, simpler interfaces, lower transaction costs, etc. What’s almost always overlooked is these “improvements” are all measured relatively. On an absolute basis, what value is being created?
In this issue, we're going to look at what in Web3 is certainly a fad and what practical applications of Web3 could lead to net-value generating ecosystems.