Many people see the current market sentiment as average, and with AI narratives so strong, they start to think that Web3 might not be doing so well. But honestly, this kind of judgment is often because people simply equate Web3 with "speculating on cryptocurrencies." When the market is good, they think the industry is great; when it's cold, they see only bubbles.

However, if we look at it over a longer period, Web3 is essentially an upgrade of the internet. Crypto assets are just the part of this system that the market has amplified first. Price fluctuations are very noticeable, but many technical aspects have been progressing steadily, such as on-chain infrastructure, asset rights confirmation, cross-border settlement, and gaming assets. These are gradually being implemented, just not as eye-catching as market movements.
So I’ve always believed that AI and Web3 are not in competition. AI addresses efficiency issues, while Web3 solves trust and value circulation problems. Many people are now discussing so-called Web4, which is essentially a more intelligent form of the internet—AI handles decision-making and automation, blockchain manages assets and rules, and together they could form a new network structure.