Austin Castellaw

In web3, the situation is different.  New marketplaces can aggregate all existing NFTs. New social networks can surface all on-chain activities regardless of whether users ever signed up. How can a moat develop?  A potential answer is tokens.

-What will be your source to determine compensation? Is it market based? person based? or internally augmented marketplace? who decides the rate?

StepN isn't a P2E. It's a social fitness app. Different user demographic.  Running is a perpetual activity for those who wish to keep themselves fit.  Hence, StepN's base players are more sticky compared to other games.

Fully backed and over collateralized — Every stablecoin issued is backed by reserve assets in a vault that represents more than 100% of the total Stablecoins issued.

Defensibility in web2 comes from proprietary data network effects. Each application is a walled garden, and a bigger user base translates into more utility vs. competitors.  The social network with most data, content, users, etc. is more valuable.

Economic valueGovernance rightsMembership & access

I think one of the most important things is for protocol teams or communities to first figure out what it is that they’re trying to accomplish and what their token specifically will be used for. For a lot of work token models like KEEP, NuCypher, or The Graph, the token is used to provide a service — the token is serving as a tax medallion. And so... See more

Through off-chain scaling, users will have access to unlimited computation at a cheap cost. Thus, games' logic could be finally deployed on-chain as smart contracts. We will refer to this family of games as strongly on-chain games.