Web3 is Dead, Long Live Web3!

Proclamations of Web3’s death are misguided: ideas don’t die, they evolve

Web3, a term coined by Gavin Wood in 2014, had become a focal point of the 2021 rally. 

Gavin Wood described his original vision for Web3 as one where today's internet is replaced by a more decentralized and peer-to-peer version, one untethered to the giant companies that control much of the experience. 

This would later be adapted to include concepts like complete self-ownership, maintaining privacy, and monetization without extractive middle layers.

The definition of Web3 has always been a bit broad and open to changing interpretations. 

As the way we use the internet in our everyday lives changes over time, so will the definition of Web3. But I would argue that the constants should be the ethos of decentralization, self-ownership, and peer-to-peer networks with no extractive incumbents.

You may hate the term, but if you don't believe in the concept, why are you in crypto? Despite what some highfalutin VCs may claim, if there are builders who believe, Web3 will continue to live.