Last week I polled readers of this newsletter on if they thought various web3 concepts were “dead” or “alive” - survey results are in: While the findings aren't entirely surprising, they do reflect a larger trend in the industry. Negative press abounds, with the "death of the metaverse" and NFT market crashes dominating headlines. Meanwhile, DAOs are rarely mentioned. Will this trend continue? To find out, we'll be running this survey again in a few months. But for now, it's clear that the world of web3 is in a state of flux.