The web3 concept aims to create a decentralized, but secure, internet in which people can securely exchange money and information, without the need for middlemen or big tech companies.
Except that the whole eco-system is centralised, requires big tech companies, and is insecure.
Let me share from a blog post by someone who dipped their toe in:
So as an experiment, I made an NFT that changes based on who is looking at it, since the web server that serves the image can choose to serve different images based on the IP or User Agent of the requester. For example, it looked one way on OpenSea, another way on Rarible, but when you buy it and view it from your crypto wallet, it will always display as a large 💩 emoji. What you bid on isn’t what you get. There’s nothing unusual about this NFT, it’s how the NFT specifications are built. Many of the highest priced NFTs could turn into 💩 emoji at any time; I just made it explicit.
After a few days, without warning or explanation, the NFT I made was removed from OpenSea (an NFT marketplace):
The takedown suggests that I violated some Term Of Service, but after reading the terms, I don’t see any that prohibit an NFT which changes based on where it is being looked at from, and I was openly describing it that way.
What I found most interesting, though, is that after OpenSea removed my NFT, it also no longer appeared in any crypto wallet on my device. This is web3, though, how is that possible?
(I recommend reading the whole thing, it's very good.)
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To quote Narottam04
Except that the whole eco-system is centralised, requires big tech companies, and is insecure.
Let me share from a blog post by someone who dipped their toe in:
(I recommend reading the whole thing, it's very good.)