Now Is the Time to Make Sure Web3 Doesn’t Just Become Web2 with NFTS

Too Long; Didn't Read

So far blockchain technology has had a mixed record of decentralization. All of the old-school hodlers can look at the ability of besieged Ukrainians to raise funds from around the world and rightfully pat themselves on the back. And the Russian freelance coders who've been dodging taxes by getting paid in crypto for the past five years now seem suddenly prescient as the Ruble collapses in value overnight. But the quiet and rapid adoption of blockchain to decrease currency exchange & money transfer costs and streamline supply chains has largely been implemented by banks and mainstream companies, who have not passed the savings on to customers. Even DeFi, which is decentralized and has exploded in popularity, driving new adoption, faster technology and better UX is still mainly used by crypto daytraders to trade with one another, not the mainstream world of business owners or individuals who use loans from traditional banks. As Facebook becomes Meta and big tech and big banks rapidly jump into the crypto space, it becomes important for Web3 companies that are built on decentralization to get the support they'll need to attract outside users and investment dollars before the vision of Web3 simply becomes Facebook3. Here are some key projects to consider – and some criteria to keep in mind. Whatever we invest our time, effort, money and talent into now should align with the world we want to see in 5 - 10 years... or we'll all have to wait until Web4 to get another chance at it.