Recent data reveals a significant downturn in Web3 developer activity, with engagement levels dropping by nearly 40% between March 2024 and March 2025. The weekly number of engaged creators in open repositories dropped from 12,380 to 7,600. This decline underscores the vital role of developer activity in shaping the sustainability and growth of the Web3 ecosystem. 2024 marked a significant year for development; however, a drop in developer engagement suggests that there’s a disconnect between promises made and the products actually delivered. Experts have attributed this to the lack of tangible value offered by certain projects, with developers losing motivation due to an over-emphasis on narrative development and hype without corresponding tangible results. 2024 saw a shift towards more user-centric applications, rather than hype.