[0xB31B1B]

Which is an entirely fair use case, and the total market value of this use case is between 1B and 10B USD and will be decreasing over time as these nations develop banking systems. That is not what was being sold though, what was being sold was that the future was every transaction, from real estate to video game virtual currency, would be on chain, that luxury cars and yachts and art would lose value to luxury 1 of 1 NFT pfps and that code is law and what matters is what the chain says. It turns out that law is law, nfts are not any of those things, and I will be transacting in fiat for pretty much all of my purchase.

[kliao]

yes, valuations have gotten ahead of reality. that seems like it happens a lot with technology products and companies. the hope is that the law will eventually catch up, tech improves, market matures, and more people will find cryptocurrencies a decent substitute for fiat. if these things don't happen, crypto might die out, and haters will be right. but with most innovation, there needs to be optimism and some "true believers" or visionaries who will work and build stuff that pushes forward the industry. there seem to be plenty in web3. let's see what happens!