From my little research and observation, the hype driven market of web3 characterized by speculation, outrageous valuations and unsustainable projects is indeed winding down. The NFT boom from the last bull run, the rapid surge of memecoins and speculative defi projects have given way to a more mature and utility driven market. However, this doesn't imply that web3 is dead. Rather, we are transitioning into a phase of sustainable growth, where real world applications and practical use ca...