Technology 'As AI Rises, is Web3 Dead in the Water?'

[vtqhtr413]

Content source

https://www.inc.com/sam-blum/as-ai-rises-is-web3-dead-in-the-water.html

Web3 was meant to usher in the age of decentralization, made possible by blockchain networks that store user data and communicate without institutional oversight. In a Web3 world, users would control how their personal information is stored online--a full-on reversal from the data-hungry tactics of Meta and Google, which siphon user data to feed their gargantuan advertising operations. In the Web3 age, a user might slap on a VR headset, navigate a metaverse shopping center, and pay for a new pair of Nikes in crypto, or sell a rare graphic image of a monkey wearing a gold chain for thousands of dollars. (Plenty of people did the latter).

The feverish hype of 2021 petered out dramatically last year: Funding for Web3 startups in 2023 declined 73 percent from 2022, according to new data from Crunchbase. In total, Web3 startups netted $7.8 billion in 2023, compared with the $21.5 billion raised in 2022. It's part of a broader and sobering comedown from the stratospheric highs of tech's pandemic boom time, in which investment flowed to startups at historic rates, valuations soared and unicorns emerged seemingly every week. Last year firmly belonged to AI, with $17.8 billion invested in the sector, according to Dealroom.

https://www.inc.com/sam-blum/as-ai-rises-is-web3-dead-in-the-water.html

 

[MuzzMelbourne]

I don't thimk AI or the Metaverse is going to affect the uptake of Web3.

For me, what WILL stall Web3 is the shear apathy of user's about their data. We are a family of 5 and 80% of us just don't care, with 40% actually enjoying force-fed advertising.

Add to the this the current complexity, security issues and plain bad press surrounding Web3, crypto currencies in particular, and I think Web2 has a long run ahead of it.

Afterall, video didn't kill the radio star and VHS outlived Beta...