Author's Note:
Recently, I have become a flexible worker, so I have picked up the public account that has been on hiatus for half a year.
And because I have too many cats to feed, I have formed a small team with a few friends to earn some cat food money. We welcome all kinds of Web3 business inquiries. We can handle everything related to product and technology. We are a direct team and not involved in reselling businesses.
This year, I have been involved in various things. I have been working on both Web2 and Web3 businesses simultaneously, and I have also developed a mature product for the metaverse. If you are interested in this metaverse product, you can chat with me privately. It can be directly deployed on Web2 or on a chain for Web3 deployment.
In addition, some friends have messaged me asking why they can't find me on X anymore. It's because I have been permanently banned, most likely because I talked about cracking machines related to a certain hellish place. The X team told me that this won't be restored. So on X, I only have a small account. When I start updating continuously, I will distribute through multiple channels.
Main Text:
The Web3 industry is currently in an awkward phase. People inside urgently want outsiders to join, while outsiders feel like they are being shut out.
Let's first separate the investment dimension and we will find that Web3 does not produce truly meaningful products. Although we can explain from various more vertical and subtle aspects that some projects or technologies are competitive, such as DEX improving capital efficiency, Layer2 improving transaction speed and reducing transaction fees, and ZK improving security and privacy. Although they are indeed good products and technologies in the micro-level competition of the Web3 vertical track, they have not driven the growth of the Web3 industry, but only competed for existing Web3 users.
The more the micro-level products sink, the higher the professionalism and threshold required by users, and the fewer the absolute number of these users. Based on my observation of Web3 over the past two years, I found that most projects are developing towards the micro-level. For example, those doing NFTs will make them 3D, dynamically changing based on wallet assets, compatible with other metaverse projects, and so on. However, in my opinion, this will not promote industry development, but only further narrow down the user base.
So what are the products that are developed in the macro direction? This can be seen in the example of the NFT leader BAYC. BAYC is probably the most well-known Web3 IP in recent years, with cross-border collaborations in fashion, clothing, and various other fields. It undoubtedly played a significant role in the NFT Summer a few years ago.
Therefore, macro-direction products are those that stimulate the participation of more incremental users and expand the user base of the Web3 industry. These projects are effectively promoting and expanding the influence of Web3. Although these specialized and high-threshold Web3 projects have their own value, I believe they do not contribute much to the expansion of the industry.
So, what I mean by the Web3 industry being in an awkward phase is that it is currently not actively acquiring incremental users, but eagerly waiting for external funding and incremental users to come in. This may be the Web3 "walled garden": people inside urgently want outsiders to join, while outsiders feel like they are being shut out.
Continuing the analysis without considering the investment dimension: in the current awkward phase, what kind of tracks can break this delicate walled garden situation? I believe the core lies in two major tracks: NFT and RWA.
There is no doubt that NFT has had considerable success, including but not limited to cross-border collaborations with BAYC, Reddit's three million NFT users (not to mention token points), and various virtual art curation cases. All of these prove that NFT is a major track that attracts more incremental users.
RWA, on the other hand, is a major track that attracts more incremental capital. Its characteristics of crossing borders, low thresholds, and even ignoring geopolitical factors allow more users to enter the Web3 field to purchase real-world assets. Because RWA is based on the mapping of real-world assets, it allows more people to truly utilize Web3 technology and enjoy a borderless utopian financial world without the volatility risks of cryptocurrencies.
In conclusion, I believe that after the awkward phase of Web3, the industry will inevitably move towards the incremental market. The recent popularity of the BlackRock spot ETF event may become the catalyst for the next wave of industry development. Whether it is funding or users, the focus will be on expanding the incremental market and expanding the Web3 industry.
Author: 柳叶惊鸿 (Liuye Jinghong)
Public Account: 维斯曼笔记
Personal WeChat: liuyejinghong_
RSS3 Personal Homepage: liuye.rss3.bio
xlog Homepage: liuyejinghong.xlog.app
Mirror: mirror.xyz/liuyejinghong.eth
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