3 ms·
There's crypto and then there's crypto grifters. Most of these projects have a crypto "theme", they're not "crypto" themselves. The central bank monetary polic
by leppr 5y ago
There's crypto and then there's crypto grifters. Most of these projects have a crypto "theme", they're not "crypto" themselves.
The central bank monetary policies of the past years have favored mindless investment, which allowed a flurry of projects to get outsized funding by sprinkling crypto pixie dust to get investments (just like so many did previously with "ML"). These 9-10 figure valuations don't bring them actual legitimacy from crypto people. This doesn't make them "crypto".
A custodian exchange trading cryptocoins is not crypto, a custodian wallet helping celebrities buy NFTs is not crypto, a seller of collectible cards on a centralized DB like Flow that you can eventually maybe transfer to an actual decentralized network is not crypto.
(same comment with "web3" instead of "crypto")
- ehnto 5y ago> These 9-10 figure valuations don't bring them actual legitimacy from crypto people. A project having VC from makes me require a bit more validation of it's value add if anything. If a project is gaining steam on it's own account, it's much easier to believe it has some real world value. Convincing some deep pockets that your Decentralized ML Crypto Neural Net Bath Soap Dispenser is worth investing in doesn't seem too hard at the moment.