T-Rex Blockchain: Is $17M Enough to Tame Web3's Attention Wasteland?

Seventeen million dollars. If you think this is a lot in the world of Web3, you are right. Or build a “T-Rex” sized blockchain, allegedly. But let’s cut the crap for a second. In the multifaceted world we live in, especially when trying to cut through the tumultuous and ever-changing attention market of Web3, can we really claim that’s sufficient? I'm not so sure.

PoE: Just Another Buzzword Bingo?

T-Rex Blockchain's centerpiece is Proof-of-Engagement (PoE). Sounds fancy, right? The idea is that you get rewarded for doing what you already do: watching videos, liking posts, and sharing memes. Effortless rewards, they call it. How "effortless" is it, really? More importantly, how secure?

Let's connect this to something seemingly unrelated: the early days of social media "engagement farms." Remember those? Workers are being paid literally a few cents each to promote and engage with posts. This manipulative practice skews metrics and taints our perception of what’s really the most popular. Is PoE really that different? How do we avoid bots and other bad actors from trying to game the system?

While the dependency on zkTLS for privacy is fascinating, it’s troubling. Zero-knowledge proofs are amazing, but they’re no magic solution. What are the potential vulnerabilities? How is T-Rex guaranteeing that the data they are collecting is really anonymized and can’t be deanonymized through some smart ML based attack. We agree that privacy is important, but not at the expense of security.

I have a sense of anxiety here. If that security is inadequate, the entire edifice might come tumbling down.

Cross-Chain Dreams or Walled Garden?

Web3's promise is decentralization and interoperability. Will T-Rex be an open, collaborative player, or will it turn into yet another walled garden, soaking up all the attention and data for itself? In her words, the answer to this question will determine its long-term success.

Think of it like this: imagine a theme park. An ideal theme park location has obvious, quick access to the surrounding city and other local attractions. A negative one is just the opposite, taking a separate ticket and transit journey to get there.

If T-Rex is focused on cross chain interoperability, is there a security layer that stops a multi-chain exploit? We’ve witnessed innumerable bridges and protocols get hacked over the last few years, leading to hundreds of millions and even billions in losses. What's different this time? How is T-Rex going to shield itself from becoming a target that someone wants to kill off?

Let's be clear: cross-chain interoperability is HARD. It adds an entirely different layer of complication and danger. With just $17 million in funding, T-Rex is up against a difficult test. Are they truly able to construct a safe and effective bridge toward interoperability with other ecosystems?

EVG: Track Record or Red Flags?

Everest Ventures Group (EVG) is the team that created T-Rex. They're touted as a "prominent product builder and publisher in Asia" with a large team and millions of users. Let's dig a little deeper.

Do they have a record of succeeding with ambitious projects, or at least not being overpromising underdelivering types? What about their past ventures? What are some red flags that should make investors wary?

Saying you’re successful because you have a big engineering team and millions of users no longer cuts it. We want to feel confident that there’s a proven process for creating successful and sustainable Web3 applications. Show, don't tell.

This is where my curiosity peaks. I’d like to hear more about some of EVG’s previous projects. What were their successes? What were their failures? What lessons did they learn?

Southeast Asia: Promise or Peril?

T-Rex is very Southeast Asia market – a sector estimated to have a market of $7 billion by 2028. It’s a huge opportunity — a huge challenge as well.

Navigating regulatory Southeast Asia’s regulatory landscape is tricky at best, and continually shifting. How is T-Rex going to deal with the myriad of laws, standards and regulations that vary from country to country? What have you done so far to ensure you’re complying with KYC/AML regulations?

What’s more, cultural quirks determine a large percentage of what content goes viral. What may seem like a great idea or investment in the US or Europe does not necessarily translate to success in Southeast Asia. Does T-Rex have the cultural calibration and local know-how to really dominate this sweet sweet market?

There is a sense of fear here. One misstep, and T-Rex might get caught up in litigation.

The Verdict: Hype or Hope?

T-Rex Blockchain has a compelling vision: to reward users for their online activities and create a more engaging and vibrant Web3 ecosystem. The devil is in the details.

With only $17 million in funding, can T-Rex really overcome the technical challenges, security risks, and regulatory hurdles that lie ahead? Can they actually save us from the attention hellscape that is Web3?

Color me very skeptical, but open to being proven wrong. Color me skeptical, but I’ll be following along anxiously to see if T-Rex can deliver on everything they promise. For now, I'm reserving my judgment. The blockchain space is filled with projects that sounded like a million bucks, but ended up nothing more than vaporware. All we can do is make sure T-Rex doesn’t become one of them.

The bigger wow factor is going to come when T-Rex can conclusively demonstrate its viability and security.