October 7, 2022

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Encryption - But Don't Despair - E24

Encryption – But Don’t Despair – E24

Web 3. Desperation is understandable, but there is life through the hype cycle.

  • Sophia Adampur
    Sophia Adampur

    NFT Gallery owner and crypto expert

Posted: Posted:

This is history

The record expresses the writer’s position. You can submit articles and debate posts to E24 here.

I don’t often log into Linkedin, because it doesn’t exist NFT– People mingle. Time flies mostly in countless hours on Discord, Twitter and Telegram.

On these platforms, you meet creators from all over the world who have solid expertise in blockchain technology.

Not only do they talk about NFTs, but they also have more than a couple. They not only write about the infinite possibilities of Web3, but they build companies and actively contribute to companies that are built around technology.

Anyway, I logged onto LinkedIn earlier this week for a quick update on how the situation was. I was pleasantly surprised that Web3 related content was so much more informative than it was just a few months ago.

Important discussions and outstanding innovation are exchangedThere are updates from weekly conferences that have cryptocurrency, NFT, and meta verse on the agenda in major cities like London, Berlin, Paris and Austin.

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When I finally got the courage to open up a dreadfully full inbox on LinkedIn, I read one of the messages as follows:

“(…) I thought it made sense to consult with you.

Is the NFT market still as active as it was a few months ago?

If you still believe in NFT and if people are still buying it into new ventures?

I just hope we won’t be late and the hype will end (…) »

This letter was painful to read, but the desperation is understandable.

We are in a new bubble where many crypto and NFT projects will go to 0, similar to many of the major investments in the shadow of the dotcom bubble from the late 1990s.

There was clear euphoria around investments in NFTs and cryptocurrencies. This euphoria can remind us of greed as many fall into the same trap and believe that there is quick money to be made, without considering that close correction is inevitable.

There is actually a separate one Bitcoin barometer With “extreme greed” and “extreme fear” as units of measure at each end, with an index ranging from 0 to 100.

This metric is based on analyzes of general market sentiment. The stock recently indicated “extreme fear” – a reflection of market moves after record inflation rates around the world.

Thus, the sender of the LinkedIn message is not alone in his concerns.

However, what the Barometer doesn’t show is that you don’t have to get the best projects under the hood. On the contrary, it may be too late.

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Those who keep building after the hype will get the best out of the next cycle – like Kaupang, a startup from 2017 that has continued to grow its crypto company through the downturns that it is in 2020 Sold For tens of millions of kroner.

It is easy to reject all innovative cryptocurrencies without further adoespecially if one has seen tech bubbles before.

But many people forget that important solutions were also created during previous Internet bubbles – like the browser you’re using to read this column now.

So it will be interesting to follow the results of the many crypto conferences you read about on LinkedIn and all the innovations they sponsor.

The apparent increase in the number of crypto-tech-related jobs announced on LinkedIn, indicates that the progress of blockchain technology has not been halted.

The upside will become more evident once a broader understanding of knowledge is established, and the ease of use of technology increases, regulated by clear guidelines.

It won’t be too long.

Note: In this column I use some strange words that not many people know: Web3? NFT? metaverses? Blockchain technology? Keep an eye on this column from now on, we’ll go through all the concepts!

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