Unveiling the Web3 Realities

In the rapidly evolving Web3 space, it’s becoming clear that many individuals tend to exaggerate their achievements from the Web2 career. From claims of e-commerce empires, working in banking or kids running hedge funds to the common refrain of running a marketing agency or the self titled role of an “advisor”, these narratives often lack substance, hidden behind the veil of anonymity that Web3 provides. With no reliable means to fact-check these stories, we find underwhelming teams securing substantial funds, only to fall short on deliverables.

Success in any startup endeavor requires a blend of experience, resilience, and skill. Yet, we’re still funneling significant capital towards young (first time) entrepreneurs who have watched a few to many Andrew Tate TikToks, believing they can revolutionize the industry with half-baked ideas.

Attempting to compete with established giants in a shrinking market, offering “revenue share”  is a perplexing strategy. We’re witnessing an influx of ventures offering similar products, with terrible strategies, which only leads to a race to the bottom.

What we truly need are innovative solutions that expand the boundaries of the Web3 ecosystem, generating revenue streams that fortify our digital landscape rather than deplete it.

Additionally, the time is ripe for the establishment of a universal standard for credential verification. Such a system would offer a safeguard against the prevalence of misinformation and deceit, ensuring that those driving progress in Web3 are indeed who they claim to be.

I suggest a collaborative effort between influential figures in the industry and major launchpads to set a new standard for professionalism and authenticity in the Web3 revolution. By endorsing a credential verification framework, we can establish a more transparent and reliable Web3 ecosystem. This commitment to integrity and accountability will elevate our community to higher standards.

Thanks for reading, DeNomics