Singapore Token2049: Web3 is not dead, it is just half dead

1. Compared with old money, Web3 is nothing. Token2049 is not a big deal. The F1 on the 15th directly raised the price of Singapore hotels by 3 times... We are just younger brothers;

2. No one wants to talk. Last year, everyone was discussing Singapore, Web3, future development and where they are going. This year, everyone is numb and doesn’t want to talk.

3. The number of participants has been halved. There is no unprecedented grand occasion like last year. The circle of friends is quiet, the number of likes on the circle of friends is pitifully small, the venue is only generally lively, and the surrounding activities have been sharply reduced;

4. Technology has given up on Token2049 and Asia. None of the well-known projects in the hottest layer2 track this year came to the main venue, but only went to ETHSG, but the number of participants was very small, and Vitalik couldn't save it. There are fewer peripheral activities for technology sharing, the developer community is not active, and I don't know if those young people who used to engage in Web3 development are still in this industry;

5. Investment institutions have stopped investing. Not only do they not buy booths, but in private chats they only say ambiguously, "We will invest if there are good ones." This sentence is equivalent to "no investment" to me. Even if they see good projects, they will suppress the project valuation to a very low level, and the founders are in tears and their hearts are bleeding;

6. NFT is basically extinct. Azuki and Bored Ape, which were very popular last year, are silent this year, and the Gaming track is also dead silent. Those pixel-style and two-dimensional seemingly novel things are all gone this year, and the whole scene is full of boredom and dullness;

7. Issuing cards is a good business, and there are more and more card issuers;

8. Those who are poor will die of poor quality, and those who are poor will die of poor quality. The top project owners spent millions to book the largest nightclub in Singapore, and they wanted to hold a large-scale side event and after party every day. The middle and lower project owners were reluctant to even pay for flights and hotels to Singapore. After thinking about it for a long time, they still felt that the input and output were not proportional. After all, there are few profitable projects at present, and investors are not investing. They have to save every penny. It is really miserable.

9. The staff turnover is still strong. It has only been 12 months since 2049, and some friends have changed jobs 3 times. No matter what, I admire their dedication to Web3. It is understandable that other traditional tracks are either monopolized or involuted, but at least Web3 can bet on the future;