>It's being driven by predatory marketing tactics Most of the web is done the same way. All web1 and web2 company valuations were nuts. It was a ponzi that was

>It's being driven by predatory marketing tactics Most of the web is done the same way. All web1 and web2 company valuations were nuts. It was a ponzi that was regulated by the SEC. Whenever a new technology like this hits the market, there will be low-effort ponzis. >It's impossible to fully understand without complex technological and financial knowledge Do you understand how SWIFT works? Do you understand how Twitter works? The user experience will hide the complexities over time. >It is actively harming the environment Ethereum, which powers the vast majority of web3, is moving to Proof of Stake, which is a system that will reduce the environmental impact by ~95% soon. >It caters to early adopters and whales You can't get rid of first movers advantage. That's probably a law of nature. The first systems to exploit a new platform have unfair advantage. That doesn't mean we should stop creating new platforms. >It profits off of artificial scarcity I don't think that the scarcity of NFTs is artificial. What the popular conception of image-based NFTs are monetizing is attention, which is a scarce resource. The more attention an image NFT receives the more it is worth. If an NFT receives zero attention, it is worth essentially zero. This is just the first time we've been able to productize that attention and be able to trade it as a unit. >Investors are banking on Web3 and they really don't want to be wrong This was true of web1 and web2. Were they a mistake? This is also true of almost every single product you use in your daily life. This is not an argument. Having investors is not a bad thing. Profit is not a bad thing. An investor making money means that they properly allocated resources. That is a good thing.