Journey of Childlike Heart

1、At first, numerous domestic public accounts pushed articles about web3, introducing the trend of factory workers turning towards web3. I expressed doubts whether this field truly had such widespread interest or was just collaborative efforts between media and capital trying to make quick money off of cryptocurrency. Nevertheless, with the passage of time, three different friends working at factories approached me asking how they could get involved with web3 - one group returned from Australia and America, another stayed domestically, but both groups entered large companies upon graduating. This made me realize that more and more people were taking an interest in web3, including the hot sales of domestic digital assets and the entrance of major corporations. Thus, I started interacting and learning from friends familiar with related fields to understand the underlying reasons behind it all. As web3 seemed closer than ever before, I began paying attention.
2、My previous understanding of web3 was that it was booming, showing a plethora of applications, creating tremendous value, thus drawing much attention. However, as my knowledge deepened on web3, I realized it is actually wildly growing, the ecosystem still quite blank. In the realms of web3 and blockchain, there exists fierce competition for dominance. My CMU PhD brother once shared that due to too many chains present, it's difficult for killer-app level applications to emerge. With further development advancement, some exceptional chains may stand out to construct a more complete ecosystem, leading to the appearance of many excellent applications in the future. Currently, most web3 applications are traditional web2 apps combined with web3 elements. For instance, https://gitcoin.co/ is a web3 app integrating GitHUB elements while https://twitterscan.com/ analyzes data on the chain to provide insights into new projects for web3 investors and speculators alike. Capital's acceptance for web3 is relatively high currently; good tools developed and backed by a compelling story will usually draw investor interest. Additionally, if projects possess a well-maintained community and can sustain reasonable levels of activity like DAOs, then they also attract significant investor attraction.
3、The team founder shared his thoughts about Web3, saying it could be divided roughly into three types of people. The first type is followers who have no idea about Web3 and don’t want to learn either, but blindly follow others and might become the project’s puppet, with higher risks. The second type is business-oriented individuals who typically act as operators in releasing various projects such as gamefi and nft, profiting from them. The third type is those truly committed to Web3 ideals, which are rare. They often have wealth freedom, technology love, idealism, etc., focusing on building Web3 ecology and creating valuable things. Although their commercial benefits might not show up immediately, they are true builders. Currently, the first and second types are common, whereas the third one is still accumulating experiences since Web3 infrastructure hasn’t been completed yet. Therefore, current bubbles are huge. He also pointed out that foreign countries aren’t necessarily better than China, nor do they have clearer moons compared to domestic ones. Domestic and overseas projects are at similar stages, allowing exploration without limits; everyone isn’t sure where this process will lead us.
4、A friend raised a point during our discussion about web3 applications: he believes that good web3 apps shouldn't be just for a small group of people to celebrate but should benefit everyone. When we look around with this standard, many projects appear to be celebrated by only a few people like digital art collectibles. There are now numerous digital art collectibles available online through partnerships with museums. These platforms sell hundreds or thousands of pieces of digital art, causing some to question if people really enjoy art or visit museums regularly when these items can sell out so easily. Eventually, there comes a time when someone must ask, "What happens when the last person buys all the tokens? What keeps it going?"
Many GameFi projects also follow this pattern of continuous token creation without real substance behind it. People invest because it promises returns rather than actual value being created. This creates issues when the whole platform collapses, leaving users wondering how to avoid losses in the future. With today's low market confidence, web3, blockchain, and other technologies attract many people. However, opportunities inside big tech companies also face severe internal turmoil, leading top talent and capital unable to find new directions, making web3 appealing worldwide. Everyone focuses on whether they will miss this next generation of the internet. As a result, many rush to buy, invest, and join, further contributing to the abundant bubble. Opportunities always come with risks, but sometimes, too much risk may be better avoided. According to Confucius, the wise man doesn't seek opportunity under risky circumstances. Lastly, welcome discussing and learning about the direction of blockchain.