Notes on Web3 is a great article for those still pondering what this moment in history means. I tend to think blockchain and decentralization are great tools in search of a purpose (in addition to cryptocurrency), but I do think there’s something there. I also think, like this author, that web3 recaptures some of the same excitement, but also unsustainable dreams of web 2.0.

A large fraction of Web3’s magnetism comes from the value of the underlying cryptocurrencies. Therefore, a good diagnostic question to ask might be: would you still be curious about Web3 if those currencies were worthless, in dollar terms? For some people, the answer is “yes, absolutely”, because they find the foundational puzzles so compelling. For others, if they’re honest, the answer is “nnnot reallyyy”.

Robin Sloan