Popular news aggregation and discussion website Reddit has changed its terms of service, allowing users to earn, purchase or sell currencies and items that can be cryptographically verified. The change in terms also explicitly outlined a clear separation in the definition of non-tokenized Web 2 virtual goods and tokenized Web 3 virtual goods, with a member of the Reddit product team disclosing plans to sunset the former.
In the world of technology crypto is a rather old technology now, and so far the core technology has proven not to be applicable to any actual constructive real world scenarios, and the only existing things using the technology are all pyramid schemes.
And it is not a question of it having to be further refined or anything like that, the problem lies with its core concept, which makes it completely unsuited for any actual life uses capable of replacing existing technology.
Also, understandably people have long since grown weary of the constant claims of “just wait and see” or “you just don’t understand the technology”, made by cryptobros who have monetary interests in the thing and wants to inflate the artificial worth of their doomed investments by attempting to find new marks willing to shoot actual fiat into the project.