IS THE HYPE AROUND WEB3 FADING OUT?

WELL LET’S FIND OUT.

There has been a lot of hype around Web3, which was predicted to completely revolutionize the internet. However, that hype has been waning, as it has become clear that Web3 isn’t having the immediate impact as many predicted.

What may have been over-hyped is now being looked at more realistically. In doing so, there are new ideas and potential being found for how Web3 could be used and market demand for these innovations. The way Web3 is used and adopted may evolve over time,but the potential is still there.

5 reasons the hype around Web3 is fading:

1. Complicated tech
2. Lack of user-friendly UX
3. Slow development
4. Few use cases
5. Costly ADA transactions

The Web3 hype is waning due to a lack of user-friendly interfaces, and a lack of incentives for users and developers. The challenge of scalability also persists, and some of the proposed alternatives such as Libra and blockchain are still uncertain and unproven. As users become aware that Web3 offers little tangible value, the hype is diminishing.