We don’t want to shock your system this early on a holiday week, but there aren’t very many web3-focused startups in the upcoming demo day contingent.,Continuing the comedy theme, here are the key points we gathered from a recent click-bait article on the lack of web3-focused start-ups on the horizon:
– Apparently, start-ups these days are just not “hip” enough. There’s a significant lack of “web3”, or the blockchain-based third iteration of the internet, focused start-ups in the line-up for the upcoming demo day.
– The article managed to dust off its crystal ball, presenting data that points out the underwhelming trend for web3 focused startups this year compared to the previous.
– As it turns out, even if you boldly proclaim “blockchain” three times in front of a mirror while holding an ethernet cable, a start-up idea focused on that doesn’t pop-up. Who knew?
– The over-investment bubble surrounding blockchain and cryptocurrency in 2018 seems to have gone bust. Or maybe crypto-bros have migrated to other trendy causes like saving avocado farms or brewing Kombucha.
– Nevertheless, regardless of the warning signs, a handful of undeterred venture capitalists are still pinning their hopes and spending their moolah on the promise of web3.
– Insider takes: Eco-friendly, digital-progressive investors are defying market trends, continuing to back web3 projects that focus on open-source, decentralized platforms. Guess they’re fans of underdogs… or blockchain, pick one.
My Stir-Fried Hot Take on Web3 Startups
Brace yourselves folks, we’re heading into snark city.
If the essence of your existence has been drawn to this bright and shiny spectacle of a paragraph wondering what the beeping beep is web3… Welcome, you’re not alone. Web3 is a techno-fancy term for a new era of internet that leverages blockchain tech. And before you ask, yes, it’s the same blockchain that gave birth to our beloved Bitcoin, that digital coin with the mood swings of a teething toddler.
The current lack of web3 start-ups is as shocking as witnessing no avocado on a millennial’s breakfast table or spotting a unicorn at a rodeo. The hullabaloo around blockchain and crypto was so big that we almost believed unicorns took caffeine shots at rooster calls to buy Bitcoin. Yet here we are, witnessing a sudden dearth of blockchain-loving tech babies in the startup market.
Why, you wonder? Has the mighty blockchain lost its charm? Or has it perhaps dozed off under the weight of its impressively convoluted technical jargon? Nah. It’s just that even Superman needs a breather. As it turns out, the tech community might be catching a break from the mesmerizing, yet chaotic game of cryptos, opting instead for solidity and perhaps a tad bit of sanity.
But worry not crypto-fanatics, a league of brave-hearts aka venture capitalists are still boldly sallying forth into the magical blockchain verse. Their wallets and valor intact, ready to back the under-represented, and the under-loved, est la vie of the tech investment world. Cause if you ain’t living on the edge, you’re taking up too much space, right?
All jokes aside, there’s still a nugget of wisdom here about the cycles of innovation and speculation. Just as the July sun burns it all before the December cold takes over, trends wax and wane. However, the scarcity of web3 focused start-ups doesn’t necessarily ring the death knell for blockchain tech. Quite the opposite, this could be the calm before yet another storm that blockchain might stir. After all, revolutions rarely happen overnight.
That’s it from your techno-jester for the day. Don’t forget to virtually recycle this read. Until next time, keep your Wi-Fi strong, and your digital puns stronger!