**I have been working as a founding/principal engineer at a web3/blockchain startup for a few years now (I still need to make a living). Our revenue is growing (though not yet profitable) and we are well funded by VC money. I can't shake the fact that all our clients are other vc-backed blockchain/web3/crypto startups and sales and leadership is making no effort to sell to non-web3 prospects.
Isn't the point of blockhain/web3 enabled tech to solve problems other companies have that existing technology is not able to address?
Another point web3 enthusiasts previously made was that blockchain based tech will eliminate single powerful players, but it just seems like companies are coming up with ways to extract as much value (like they always do), by deploying their own wallets or their own custom chains built on top of public ones.
Everything seems like a big echo chamber. Enthusiasts compare it to the public internet in the mid/late 90s, but I happen to be old enough to remember those days. When things were just getting started, non-technical users saw the point of email and chat applications and also the world wide web. Right now, crypto and nfts have been around for a good amount of time and nobody I know outside the web3 community actually uses these (beyond bitcoin being a small portion of their "investments")
Am I missing something? Is web3 just a house of cards waiting to collapse?**bold****
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