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Ask HN: What do you think about the recent Web3 migration narrative?

by itsmefaz on 3/18/22, 5:29 PM with 4 comments

There seems to be a constant narrative push of tech migration towards web3. And it seems to be coming primarily from VC firms having huge Web3 investments. I am yet to see an authentic dataset of this happening?

  • by rvz on 3/18/22, 6:01 PM

    I can only say that the web3 narrative is certainly rigged to make the VCs not only to 'pretend' to care about their interest, but also to never lose.

    This has been done in with many projects like 'Internet Computer' (ICP) [0], 'Ethereum Name Service' (ENS) [0] and the latest addition, ApeCoin [1], (by Bored Ape Yacht Club). This involvement of VC firms and listed on many exchanges simultaneously at the same time [2] resembles a giant pump and dump scam and using retail as exit liquidity.

    Who knows whether if the insiders will do the exact same thing as ICP or ENS. That is the scam and illusion of 'web3'.

    [0] https://news.ycombinator.com/item?id=29948397

    [1] https://techcrunch.com/2022/03/16/bored-apes-nft-project-get...

    [2] https://www.financemagnates.com/cryptocurrency/apecoin-by-yu...

  • by PaulHoule on 3/18/22, 5:38 PM

    The only "web3" service I've seen is

    https://decentraland.org/

    and it's pretty bad. It has two things going for it: (1) you can play without a wallet, and (2) you can play with a browser. Numerous things are wrong with it such as: (1) not fun, (2) crashes and hangs all the time, (3) it's a ghost town, ...

    What irks me the most is the mindlessness of these people in ignoring the "Web 3.0" label that had been coined by the W3C for the semantic web.

  • by verdverm on 3/18/22, 6:39 PM

    They shouldn't have to push so hard and create a narrative. If it was better, developers at large would have adopted it like Docker or Kubernetes.

    Anything that has user generated content needs delete capability, which pretty much rules out permissionless blockchain