We were wrong about Web 3.0 and we should admit it.

Luke Urban
6 min readApr 11, 2023

Since the very beginning, I was very skeptical about the whole Blockchain and new Web 3.0 hype. At first, I didn’t say anything because I thought I was lacking some knowledge and did — so I decided to play with the topic a little. I invested in some crypto, read about the decentralization they all talked about, looked at the NFT market, and after some time I…

Didn’t change my mind.

Everything seemed like a joke to me. Are people really believe in it? Do they really invest their life savings into it?

Why do I think we got it wrong?

Decentralization was a very strong and promising selling point. But after a while it hit me. So everybody can be a part of the NETWORK. I can be a part of the NETWORK. Right? All I need to do is to provide a server. Eazy! But do I want to support it for life? Probably not.

In the Crypto world, there is a person called the Whale. An individual who has so many tokens that can destabilize the whole market.

I am mentioning that when talking about decentralization because if I ran out of money there's always some company with endless supplies of greens that can buy the server from me.

Next, NFTs were shady from the beginning. Even becoming a meme on their glory…

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Luke Urban

Building tech startups in public🔨Trying to portray technology a little differently. Emphasis on trying…I publish tech/startup/programming videos on YouTube🔴