Web3 is just getting started.
Every new paradigm has 2 cycles often both running in parallel.
Building Cycle, where developers and enterpreneurs envision and build awesome products and necessary infrastructure.
Capital Cycle, Speculative & Growth capital goes into such projects leading to bubbles and busts.
What happened recently is Capital cycle bubble broke.
Building cycle is well and truly on.
What happened recently is Capital cycle bubble broke. Building cycle is well and truly on.