From Belief to Doubt: Where Is Web3 Headed?
Recently, Kyle Samani, co-founder of Multicoin, sparked discussions on social media when he responded to a post about the sluggish crypto market. He shared that he no longer sees the future of Web3 and decentralized applications (dApps) as promising as before.
Where Lies the True Value of Blockchain?
Kyle pointed out that while crypto continues to evolve, he sees blockchain’s core value primarily in reshaping financial asset ledgers rather than building broad application ecosystems. He also noted that DePIN (Decentralized Physical Infrastructure Networks) is a promising field, and privacy and confidentiality on-chain remain critical unsolved issues.
Deleted Tweets and a Sudden Exit
Notably, Kyle quickly deleted the tweets after posting them. He later announced his departure from Multicoin, stating he would focus more on Forward Industries and explore new technological opportunities.
Still Bullish on Crypto
Despite his skepticism about the Web3 vision, Kyle clarified in follow-up posts that he remains personally bullish on cryptocurrencies, especially SOL, and will continue engaging in the space as both an individual and chairman of Forward Industries.
- Is the Web3 vision still compelling?
- Should blockchain’s future focus on finance?
- Can DePIN and privacy tech drive the next wave of innovation?