Web3 is not a buzzword
I've not always been one to trade against or for influencers opinions, but while many others in the space have probably done this way more often than I can imagine, it is not always sustainable. Pumps are often very short lived, and the aftermath always sees numerous traders liquidated for entering the market late and others for attempting to oppose the hype.
During the last crypto bull run, we saw a handful of personalities become quite "relevant figures" in the cryptocurrency ecosystem, the likes of Elon Musk specifically being a sole factor for numerous coin price surges, with Dogecoin being the most notable. What however happened along the line is that these personalities began to misuse their position with quite a number of unfiltered comments on the industry, with Elon Musk blasting bitcoin while ironically holding it and then starting the dogecoin madness which eventually led to more crossfire shit shows.
Of course, it all began with the Bitcoin critics, which were more of direct attacks than constructive criticism. All was specifically targeted at Bitcoin's energy consumption of which ironically, despite the numerous less expensive chains out there, the industry entirely still managed to be termed one with no intrinsic value. We need not even go into details on if Bitcoin’s energy FUD is true but did it end here?
DeFi, NFTs, Web3 and the Metaverse, what better time than when the numbers on developments saw a spike?
Web3 is not a buzzword
A lot of people including Elon have called Web3 a buzzword, same with the Metaverse, not surprisingly. What are the odds that we can convince them that it really isn't? The funny thing is that many people believe that there's even the need to convince billionaires that literally create money in the Fiat-based economy that something as destructive as crypto, a literal threat to the legacy system, is the future. When we read between the lines of the FUDs, we should be able to see clearly that 90% of the time, the system quite clearly knows of the potential the industry holds but most specifically what that means to the world's economic, business and financial system, thus, the fiat monetary economy.
Web3 is not a buzzword, but manipulative marketing is a reality. It's quite easy to call out innovations that one doesn't have a clear understanding of to be a scam or in this case a "buzzword" but if you look around, there's a lot going on that shows that things are taking shape and the future of the internet, finance and business building is drawing closer.
Developments are one key metric to look at when trying to distinguish between value and lies. With crypto and blockchain, it is rather easy to track developments and master the art of determining the value streams. With the launch of applications like Unstoppable Domains, things really were getting quite exciting and although I've not quite found myself learning all its structures, it was still quite exciting on the bare minimum surface.
Added to this, something quite fascinating and a show and tell of a move forward as an industry was being deployed and could be a pace setter on the true move towards a decentralized internet, because from the look of things, we are still quite under the shadows of centralized servers.
Apparently, a Web3 http alternative has been deployed on Ethereum following the recently launched Ethereum request for comment(ERC) -4804 Standard. What does it do? From a surface knowledge, it allows individuals access DApps and NFTs on the Ethereum blockchain without going through a centralized route(http). This was reported on cointelegraph and is simply a great factor of what the industry and its distinctive yet power communities are building.
If Web3 was ever simply a buzzword, it isn't anymore due to increased developments on distributed layers of governance and operations.
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