Back in 2018, Venezuela made headlines by launching petro, marking a bold experiment in state-backed digital currency. Backed by the country's substantial oil, gold, and mineral reserves with a fixed token supply, this Ethereum-based token was designed with a clear mission: combat hyperinflation and shore up the bolívar. It represented an early attempt by a sovereign nation to leverage blockchain technology for economic stabilization during a crisis. While the project's long-term outcomes became a cautionary tale, it fundamentally shaped discussions around central bank digital currencies and reserve-backed cryptocurrencies in the Web3 ecosystem.