Financial markets, the banking system, the insurance industry, and securities and corporate regulations, all grew in prominence during this era. These institutions were really good at producing trust. Trust became a saleable good and trust production became a big business.
The main use-case of web3 is speculation and money laundering. We’ve been promised much more, but at this point blockchain technology is over a decade old. It didn’t take web1 nearly this long to flourish after the browser and HTTP were invented. Shouldn’t more have happened by now?
Putting that in perspective, assuming that Clubhouse gets the 10% discount and nothing special on top, each hour-long Clubhouse room with the max of 8,000 people in it costs $427.68.