Absolutely brilliantly written and spot on. The market frenzy wasn’t going to last because there is no value to market besides hype and promises. The tech (soft & hardwares) needed to deliver on these needs time to catch up, as does web3 business operations and strategy.

Tech improvements that happen at the speed of market speculators are going to be as short lived as the hype cycle, or have major vulnerabilities.

Similarly, innovations in rapid growth fields like web3, blockchain, AI, processors, production, and computing need time to build the infrastructure, teams, and processes to scale - otherwise it will collapse in on itself, just like the NFT market did. And yes, most are just hibernating, waiting to gamble on speculation - but the real communities, the real creators, the real builders…we didn’t go anywhere.

The market shake out and following quiet is where real communities, real connections, and really cool shit happens.