Moxie Marlinspike 'My First Impressions of Web3'

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I think these market forces will likely continue, and in my mind the question of how long it continues is a question of whether the vast amounts of accumulated cryptocurrency are ultimately inside an engine or a leaky bucket. If the money flowing through NFTs ends up channeled back into crypto space, it could continue to accelerate forever (regardless of whether or not it’s just web2x2). If it churns out, then this will be a blip. Personally, I think enough money has been made at this point that there are enough faucets to keep it going, and this won’t just be a blip. If that’s the case, it seems worth thinking about how to avoid web3 being web2x2 (web2 but with even less privacy) with some urgency.

It's worse than I thought. Web3 is already a mess.