The issues with Web3 have been apparent even prior to the collapses of Terra and FTX. These incidents have shed light on the fact that Web3 is being promoted by scammers who aim to take advantage of those who are most vulnerable. However, cryptocurrency offers opportunities for everyone, as it opens up global possibilities and enables digital creators to trade with consumers from different parts of the world.

To achieve widespread adoption, Web3 needs to be localized and integrated into existing communities. This can be accomplished by providing tools to local communities, which are more diverse and less susceptible to fraud. By bringing entire communities on board, we can increase the adoption of Web3 tools and create the user experiences that people desire. To achieve this, there must be a greater emphasis on grants to inspire local entrepreneurs and creators to collaborate on new Web3 ideas.