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The role of $ can't be understated. Does web3 even exist, culturally? Yes, but it competes with web2.5, which I'd argue is actually winning the mindshare of the space. Greed and hype are rampant and big investments by orgs that only seek to extract value hurts the community-focused vision of web3

Strat/art/design. Thoughts: /user-steen Director: /enjoy Guild: /metaliminal Zora: zora.co/@usersteen

Generally agree. I'm not convinced we'll ever see 'web3' in its true sense, emerge. What does become 'web3' will look more like a robust web2.5 from a decentralization standing. 

Not sure I'd attribute that to value-extracting institutional investors.

I agree, that is the party line, and yet everyone I've met has no problem accepting the capital when it's the only offer on the table. All of a sudden reasons appear for why it's a good idea to take it. Full blame doesn't rest on investors' shoulders.

I too am not confident it's inevitable. I think we need to see the emergence of decentralized brands at scale for that to happen. DAOs will need to be at the core. 

Capital that comes from institutional investors who add nothing other than capital is close to worthless imo.