Hey there, crypto enthusiasts and blockchain curious! If you’ve ever wondered how the Indian Web3 scene came to be, you’re in for a treat. A recent tweet from hitesh.eth takes us on a nostalgic journey back to the early days of Web3 in India—a time when the focus was less about making a quick buck and more about exploring how this groundbreaking tech could change lives. Let’s dive into this fascinating history and see what lessons we can learn today.

The Birth of a Movement

Back in the early 2017s, the Indian blockchain scene was a wild, uncharted territory. Hitesh, who shared his story, was one of the first to dive into this space while working at an IT company in Bangalore. His job? Teaching blockchain basics and dreaming up new use cases for banks. At that time, most people in India only knew Bitcoin, and the idea of a decentralized internet felt like science fiction. But for Hitesh and a handful of others, it was a spark of inspiration.

What’s cool about this era is the pure curiosity that drove it. People weren’t chasing ICO millions or hyping meme coins. Instead, they were tinkering with sidechains, decentralized identities (think Worldcoin), and even early decentralized exchanges. Hitesh’s blog, ItsBlockchain, became India’s first crypto media outlet, showing how passionate individuals shaped the narrative.

From Passion to Pioneers

This early enthusiasm birthed some big names. Hitesh mentions Toshendra Sharma, who turned a simple suggestion into a Web3 empire with Blockchain Council. Then there’s Raghu Mohan, who helped kickstart Bangalore’s Web3 culture with events like the IBC conference. Even companies like Primechain made waves by partnering with banks, proving blockchain had real-world potential.

But it wasn’t all smooth sailing. The scene faced its share of challenges, including MLM scams like GainBitcoin and Nucleus Vision’s controversial $40M ICO. These incidents marked a turning point, shifting the focus from tech exploration to profit-chasing—a trend Hitesh laments in his tweet thread.

The Shift in Web3 Culture

Fast forward to today, and Hitesh’s reflection hits hard: “It was the time when people were more curious to explore this space to learn how the tech would change lives, not for how much money they could milk from it.” The Indian Web3 scene has evolved, with more startups, meetups, and creators than ever. Yet, as he points out in later posts, the rise of projects like pumpdotfun—which tried raising $1B after dumping $700M worth of SOL—shows how hype often overshadows the original builder spirit.

This shift isn’t unique to India. Globally, Web3 has seen its share of “circuses,” as Hitesh calls them, where fame and money take center stage. But his tweet reminds us of a purer time when the focus was on solving problems and building something lasting.

Can the Old Spirit Return?

So, what’s next? In response to a follower’s question, Hitesh hints at the challenge of recapturing that original energy. With the market flooded with newcomers who only know the hype cycle, bringing back the idealistic roots seems tough. Yet, his own journey—from blockchain pioneer to filmmaker and reflective thinker—suggests there’s hope. Maybe the key lies in fostering education and community, much like the early meetups organized by Koinex and others.

Why It Matters for Meme Token Fans

Even if you’re here for the latest meme token trends on meme-insider.com, this history has relevance. Many meme coins thrive on community and innovation—qualities that echo the early Indian Web3 days. Understanding this past can help you spot projects with genuine potential versus those just riding the hype wave.

Final Thoughts

Hitesh’s tweet and thread are more than a trip down memory lane—they’re a call to reflect. The Indian Web3 scene started with dreamers who saw blockchain as a tool for change, not just cash. As we navigate today’s crowded crypto landscape, maybe it’s worth asking: How can we bring back that curiosity? Drop your thoughts in the comments, and let’s keep the conversation going!