Solana news: Solana Treasury Chairman Samani Declares 'Web3 Is Dead', Highlights DeFi and DePIN

Samani's Statement on Web3

Kyle Samani, Chairman of Solana Treasury and co-founder of Multicoin Capital, recently stated that 'Web3 is dead', sparking debate across the blockchain industry. According to Samani, only decentralised finance (DeFi) and decentralised physical infrastructure networks (DePIN) are demonstrating sustained demand and user engagement.

Web3's Mixed Results

Web3, once a leading narrative in cryptocurrency, aimed to decentralise social networks, gaming, and creator economies. Despite significant investment, most Web3 applications have struggled to attract and retain users, with only niche communities seeing consistent activity. Blockchain-based social platforms and gaming projects remain small compared to traditional alternatives.

DeFi and DePIN Lead Blockchain Adoption

DeFi protocols for lending, trading, and yield generation continue to handle billions in value, making them the most robust use case on blockchains like Solana. DePIN, which links blockchain incentives to real-world infrastructure, is also gaining traction as a compelling sector.

Tokenised Real-World Assets (RWAs)

Tokenisation of real-world assets, such as bonds and Treasury bills, is attracting institutional interest for its potential to improve settlement and transparency. This trend is expected to grow as more traditional financial instruments are brought on-chain.

Why This Matters for the UK

For UK builders, investors, and regulators, Samani's comments highlight a shift in blockchain focus from broad Web3 ambitions to practical applications in DeFi, DePIN, and RWAs. The UK’s growing fintech sector and regulatory clarity could position it to benefit from these trends, especially as London seeks to attract blockchain innovation and investment.

Conclusion

While the vision of a decentralised internet remains relevant, current market activity is concentrated in sectors with clear utility and measurable engagement. UK stakeholders should monitor these developments as they shape the next phase of blockchain adoption.