Another startup that made a pivot from web3 ➡️ AI shuts down

The company behind @101dotxyz, a web3 education platform, has decided to shut down and refund its investors. The founder says the company bet that the web3 industry would mature enough to create a sizable market, and after two years the space has made progress but still does not offer a meaningful market for the product. The team considered pivoting to AI-generated tutorials by dropping the web3 elements, but decided that product would require different insights, expertise, and enthusiasm, and saw no clear path forward.