The number of promising crypto projects is shrinking, and capital is concentrating on blockchain solutions for traditional finance, according to NYDIG analysts.

The company noted a noticeable decline in investor interest in crypto games, metaverses, and decentralized social networks—centralized alternatives are faster, cheaper, and more efficient. Most everyday applications don't need a global, immutable ledger. The concept of Web3, in its broadest sense, is gradually becoming a thing of the past.