Essentially, prices are a hook. As prices rise, crypto interest rises. This drives ideas and activity, leading to innovation.
Benjamin Graham once said “It’s best to pay no mind to “Mr. Market”, who frequently boomerangs from exuberance and euphoria to despair and depression.”
Don’t step away if you believe in Web3. You could miss out on the opportunity of a lifetime.
Imagine if people swore off the internet after the dotcom crash.
So much great technology has emerged since then. We wouldn’t have streaming, cloud services, or social media.
For some further context, Amazon shares traded below 10 dollars following the dotcom crash.
Even with the market down right now, that share would be worth over $2000 today.
Web3 could be a very similar story.
9. We’re Still Early
@a16z estimate there are somewhere between 7 million and 50 million active Ethereum, based on various on-chain metrics.
We’re around where the internet was in 1995, in terms of adoption.
That is extremely early. We’re yet to hit mainstream adoption.
Most people have hear of crypto but don’t use it. Fewer make use of DeFi and dApps.
Web3 has so much potential. It could help creators, solve systematic issues in finance, and change the way we make decisions collectively.
Web3 has the potential to change the world. The technology is still extremely nascent, and we’re just beginning to scratch the surface.
And those were my takeaways. The report has a lot of useful insights, and I recommend taking a look at the full report: