#83 Making Web3 Tangible
I spend a lot of time thinking about Web3 / crypto enabled opportunities. I’ve been focused on 5 areaas in case they’re useful to those getting started as there’s a lot going on.
1 - Infrastructure aka Internet’s New Tech Stack
Blockchain tech, platforms, protocols, smart contracts, persistent digital ID + persona (trust), open source software, tokens, NFTs etc. Check out Peter Yang’s (@petergyang) “New to Web3...” Twitter thread. Incredibly helpful summary with all sorts of resource links.
2 - Tokenomics aka Monetary Policy Equivalent Determined by Each Crypto Micro-Economy
Blockchain enabled organizations are being built and in doing so, are creating their own self-sustainable micro-economies. Tokenomics is the information around a micro-economy’s cryptocurrency, how it interacts with stakeholders within its ecosystem including token distribution, supply, governance and business scope. Super important.
3 - DAOs aka Web3 / Crypto Enabled Business Models
A DAO is a community built on top of a blockchain with a bank account. It’s governed by a set of rules that are coded into smart contracts which eliminates the need for human intermediaries to interpret when rules have been met and ensuing actions should take place. The framework sets the stage for significant business model innovation. For example, check out the Web3 / crypto enabled Braintrust compared to the Web2 version. On 12/9, Coatue and Tiger Global purchased $100M Braintrust Tokens.
4 - Disintermediation aka Web3 Powered Disruption or Evolution of Digital Business Transformation From 1.0 --> 2.0
The more time I spend learning about #1, #2 and #3 above, the more I agree with Marc Andreessen’s comment - “We’re quite confident that when we’re sitting here in 20 years, we’ll be talking about (blockchain technology) the way we talk about the Internet today.”
5 - Opportunities for Athletes, Street Artists + Musicians aka the Communities I Love
Growing up in the world of Sports + Entertainment, I had a front row seat to see how the relationship between athletes, artists, musicians etc and their fans were enhanced by Web2 from the beginning. The Web3 opportunity to build micro-economies for some of the world’s most passionate communities is a no-brainer. But the opportunity for those with Web3 / crypto native teams around them has asymmetrical upside written all over it...