Unsurprisingly, #Web3 has an astronomical failure rate. 65% of crypto projects have died in 2023, according to this report. It also says that 72% of crypto projects "born in the 2020-2021 (bull run) have died." Not so much 'to the moon' as 'to the morgue'! https://alphaquest.io/blog/dead-coins-report-2024/
@librenews yes but it only took a few years after that for the web to recover — 2005 was a big year for the web. But crypto has been going for years now, with no sign of any apps being built that will last. I see the financial benefits of Bitcoin, esp right now, but from application perspective the whole crypto sector is a dud.
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