TL;DR
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If you’ve been on crypto Twitter of late, you’ll have noticed a lot of people talking about industry players rebranding themselves.
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The subtext being: Web3 ain’t as hot as it once was, so companies aren’t using it as a front facing selling point anymore.
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We could be way off here, but to us it acts as a solid indication that we’re in the deepest depths of the bear market.
Full Story
If you’ve been on crypto Twitter of late, you’ll have noticed a lot of people talking about industry players rebranding themselves.
(Essentially lowering the emphasis that their company/project/brand is blockchain based, or Web3 related).
The subtext being: Web3 ain’t as hot as it once was, so companies aren’t using it as a front facing selling point anymore.
Right now, we’re writing this from the TechCrunch Disrupt conference in San Francisco, and we can confirm:
The rebrand is real.
Just checkout the header image of this article. Hedera is a cryptocurrency with one of the biggest booths at TechCrunch.
…and not a single mention of blockchain tech.
Why is this important?
Well, we could be way off here, but to us it acts as a solid indication that we’re in the deepest depths of the bear market.
Sure, the broader market cooled off on Web3 and crypto a while ago – but crypto companies cooling on crypto? That’s new! That’s the bad news.
The good news is this:
Crypto is highly cyclical. Historically, crypto has ‘died’ only to be reborn bigger and better, on a four year cycle that matches the Bitcoin halving.
Meaning if we’re right in assuming this is the market low and you trust that the market will rebound like it has in the past:
We can only go up from here baaaaby!
