<MoneyLab> Silicon Valley Crypto-Outlook for 2022

[Geert Lovink]

"Pro- and anti-crypto factions harden into place, setting up a long-term religious war over the potential and perils of the blockchain. So much money is now invested in what enthusiasts call “Web3” that its runway now lasts well into the latter half of the decade. Nevertheless, smart skeptics continually draw attention to the blockchains’s terrible interface, user experience, performance, cost, utility, scams, and environmental impact — to say nothing of the risks of speculative token purchases. At the same time, so much time, money, and talent is working on these projects that it seems inevitable they will leave behind something useful. This year we saw video games that pay you to play them, attempts to disintermediate big record labels, and a flurry of experiments in governance that led to a nearly successful attempt to buy the Constitution, among other things. Next year I expect to see lots more uses of NFTs that go beyond art speculation — think NFTs that give you access to virtual and physical spaces; think POAPs <https://email.mg2.substack.com/c/eJwlkM2OwyAMhJ-mHCMgISQHDnvZ14j4cVLUBBCYdtOnX9pIlmVpPBp9YzXCFvOpUixIPmvBM4EK8Co7IEImtUBevFNScsHngTg1ODaJifiyrBng0H5XmCuQVM3urUYfw9cwy5Hc1aitHed5nPrVcqGNWYVlYAQ4ts5M6ytVV-chWFDwhHzGAGRXd8RUbv3Pjf-2SVGn7u98t5N4xSlnjDNJGaX92PGOMtPraZUjrIZKSbunfPev3uvbQI-Nd6Wagto-OhsPktUGkLFJAfAV88PWHWuG0sW8fTiW9nXU4PFcIGizg7sQ8SrqC71sECC3At2iUbGxnyXlk2Bi4hdT62AQYhaUc9LiXWyuoNKucY35gPwP3xaBiA>. I also think we’ll see more viral DAOs that start out as jokes and then do extremely weird and hopefully cool things.” Casey Newton, Platformer Newsletter, December 17, 2021.





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