The 'Web3 Is Going Great' meme originated from the eponymous website created by software engineer Molly White in late 2021. The project serves as a detailed timeline of the various disasters, scams, and vulnerabilities within the decentralized web and cryptocurrency space. The phrase itself quickly became a shorthand for sarcastic commentary on the stark contrast between the optimistic 'future of finance' rhetoric and the reality of frequent multi-million dollar losses. Often paired with imagery of fires, sinking ships, or the 'This is Fine' dog, it is the go-to template for internet users to react to exchange collapses, security breaches, and the general volatility of the blockchain ecosystem.