this post was submitted on 12 Jun 2023
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I think this decentralization and federation is what web3 is all about, without all the corporations calling everything to do with monkey pixel art that costs a million dollars "web3"

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[–] [email protected] 40 points 2 years ago (2 children)

I hate how crypto bros and scammers kidnapped the term web3. In reality is a nice concept, but they just turned it into a libertarian dystopia.

[–] [email protected] 11 points 2 years ago (1 children)

I like the overall trend towards ownership and non-centralized tools implicit in web3. If everything happening on the internet is owned by wall street, then it's not going to act like the real internet.

If there's a crypto aspect that has uses beyond grift, I'm open to it. There are certain ways it could be used to disintermediate owners and creators. I'm not sure if that's happening yet. Ownership rights with digital content do leave a lot to be desired.

I hope we soon see the end of the "gold rush" era in crypto and start seeing actual cool stuff being done with it. Especially since legacy banking will simply co-opt it sooner or later.

[–] [email protected] 6 points 2 years ago (1 children)

My 2c, the development around Ethereum isn't really that dystopian or scammy, and there's still promise for decentralizing financial institutions. A lot of people tried to cash in on it is all. Was just reading an article about the gold rush around marketing cereal ~1860-today, companies loading it with sugary and cartoon marketing to brainwash kids, etc., but that doesn't mean cereal is bad for you.

[–] [email protected] 3 points 2 years ago (1 children)

someone tried making a Reddit clone called Plebbit and it was built on the Ethereum network, avatars had NFTs, the UI was similar to new Reddit, was clunky, extremely unresponsive and its mascot was the NPC wojak meme so it's just a 4channer trying to swindle money. To actually make an account you had to pay for an address LMAO

[–] [email protected] 3 points 2 years ago

Yes, a lot of people saw easy money and tried to cash in on fads. Remember the "Million Dollar Website"? Just because that was stupid doesn't mean the internet was a scam.