.molly0xFFF, Web3's most visible skeptic, is busy debunking myths about tech before the next bubble. SXSW
Cryptocurrency, NFTs, blockchain, and miscellaneous Web3 projects: Expect interest in them all to be in deep decline at this year’s SXSW thanks to an extended crypto winter that evaporated trillions of dollars from investors large and small, destroyed companies overnight, and even altered the name of an NBA stadium.
“More than anything, Web3 was one of the periodic hype bubbles that we see in tech. And like so many of them, the tech world just moves on very quickly to the next big thing,” White said, adding that the cratering of crypto prices really curbed enthusiasm in the sector. “So if you look at this year’s schedule, there’s not so much crypto/NFT/Web3 compared to last year, but there are a lot of AI types of things.
“My views toward crypto/Web3 are reflective of broader views I hold around the tech industry,” she said. “I think the mythmaking and hype cycles that society goes through are not good. But it is useful to have someone who is questioning the usefulness or the ethics of technology.” “A lot of the headlines for Web3 were about how this was going to replace the whole financial system or completely oust most big tech companies ... that individual people were going to become millionaires overnight,” White explained. “Even if at the end of the article it mentions it’s also a very risky investment and you might lose all your money, it’s [still dangerous because] people don’t get that far. It really shapes the public perception quite dramatically.
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