Crypto VCs clash over the future of non-financial Web3 applications
Crypto venture capitalists openly disagree about whether nonfinancial Web3 applications have a genuine future. The debate revolves around whether digital identity platforms, blockchain gaming, and decentralized social media failed because people didn’t want them, or whether they are still early-stage ideas that need more time to grow.
The conversation reflects deeper divisions among investors over where crypto innovation should head next. Public disagreement arose when Chris Dixon, managing partner at venture capital firm a16z crypto, wrote an article arguing that external factors had slowed the growth of nonfinancial crypto applications. For Dixon, years of scams, exploitative behavior, and severe regulatory pressures…
