This week has been quite a buzzy one for the Web3 social scene, with Vitalik's comments, Lens's transition to stewardship of Mask Network, and the recent buzz surrounding Nainar's acquisition of Parcaster. In particular, as we enter 2025, the strategic vertical expansion of Web2 and Web2.5 companies has become even more prominent. This week, I've been struck by the possibility that even Web3-native protocols will see more aggressive and strategic M&A activity. So, I'll leave a brief comment on this. While Web3 protocols have often touted their "openness," in practice, they've often relied on token sales, relying on the founding team to handle everything internally. In this regard, the recent acquisition of Parcaster, which launched without a token, offers some interesting insights. If consumer-oriented Web3 protocols evolve in this way, becoming more refined and structured, I believe they could potentially capture significant market opportunities even without a token.