Author’s Note: This was written in the Fall of 2021, near the height of the most recent crypto boom. The mood then was very different then than it is now, but the ideas are as interesting and important as ever (in my humble opinion, lol). In fact, it’s perhaps even more useful to revisit web3 hype now, since we have a bit more emotional distance from the price swings.
Enjoy!
Lately I’ve been teetering between fascination and disgust with regard to web3.
Some days I feel like the holy trinity of NFTs, DAOs, and DeFi might replace the very foundation that society rests on. Other days it feels like 90% vaporware and Ponzi schemes that collectively emit more CO2 than a medium-sized country.
The challenge, as I see it, is to hold both of these ideas at once.
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Wonderful article. Do you have any web3 fundamentals resource recommendations? Thanks.