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Lemmy and Mastodon feel like the real web3.
(lemmy.world)
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Web3 became a marketing term, doesn't even really have a clear meaning, but it's used as a catch-all word for blockchain-related things like NFTs, cryptocurrency projects, etc. But most of those are not truly decentralized, whereas Lemmy and other fediverse projects are.
I kind of like the idea of rebranding it around a more honest and inclusive definition of decentralization. Though getting past bad marketing is so hard it might not be worth it.