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Comment by wtvanhest | Hacker News Reader

Web3 and crypto based businesses are absolutely the future and VCs are already actively dumping money in to highly risking projects.

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Still to early. People said the same about IoT, VR, BLE, and 5G. Most of it was marketing buzz.

Don’t forget that web3 involves NFTs. And you can buy an NFT from yourself to make it appear it’s valuable even though it’s not. Wash sale rules along with plenty of others don’t apply to NFTs, yet.

It’s definitely early, but not too early to see it once you dive in. NFTs are a very small off shoot of what web3 is about to offer. Jpegs and songs will be part of it, but not likely the biggest part.

I don’t think I’ll ever be a buyer of NFT jpegs but I can still appreciate what is possible

>NFTs are a very small off shoot of what web3 is about to offer.

What else do you think web3 can offer besides NFTs? I'm genuinely curious because I hear a lot of rumbling about web3 but don't really see much being done other than NFTs.

Storing Media assets on the chain itself would be incredibly expensive. It’s why 99% of app NFTs is just a receipt pointing to a url.

Now could the blockchain replace or augment dns. Totally. But not sure I’d call that web3.0

IPFS is decentralized storage and is a big part of what web3 is. Many NFTs use IPFS urls and many dapps are hosted on it. Browsers can resolve them today via centralized gateways like ipfs.io and some browsers (like Brave) support IPFS natively.

Don't forget multimedia (South Park was briefly known as "multimedia gulch" before the Web took off), 3DTV, "smell-o-vision", and a bunch of other crud.

Ad-supported surveillance media selling behavioural manipulation turns out to be what took off. It's a mix of what pays, what the public would consume, and what regulators were (at least for a time) afraid to touch.

IoT is pretty great for manufacturing (talking billion dollar manufacturing). I don't like seeing my precious IoT lumped in with NFTs.

Home IoT might be crap, but it really has a place in manufacturing and monitoring. It can help with maintenance services.

Not that we aren't still quite far away making it all fully working and secure...

>Home IoT might be crap, but it really has a place in manufacturing and monitoring.

What will IoT will bring to manufacturing that hasn't already existed for the past few decades? I started my career in manufacturing at a pretty large company around 2010, and quite literally every process was being monitored over a network. I worked with a framework called XMII (formerly Lighthammer[1]) that integrated with SAP and allowed us to read from various sensors collecting data on manufacturing lines and built dashboards for monitoring.

[1]https://www.automation.com/en-us/articles/2004-2/lighthammer...

That sounds more like Intranet of Things, and is probably better for anything where security matters.

It seems like the consumer side is the one catching up and IoT is the buzzword marketing calls it, kinda like "the cloud".

As I understand it, the difficulty with IoT is it tries to combine together millions of small markets into one big one. But you compete with specialized products designed with expertise in those niches, or else you're trying to sell general technologies to specialists who have no idea how to use them. I think the consensus is largely that IoT hasn't overcome this yet. Aren't they trying to rebrand it with new names now?

I've yet to see a real business case involving anything "crypto" that isn't either a scam or simply foolish.

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