added by Kaf · updated 2y ago
The Web3 Renaissance: A Golden Age for Content
- There are four main ways that that will happen:
from The Web3 Renaissance: A Golden Age for Content by Katie Parrott
sari added 3y ago
- While Gates’s essay is remembered for its prescience about the direction the internet would take, what’s less well-remembered is that he also sounded a warning: “For the internet to thrive, content providers must be paid for their work,” he writes. “The long-term prospects are good, but I expect a lot of disappointment in the short-term.”
from The Web3 Renaissance: A Golden Age for Content by Katie Parrott
sari added 3y ago
- -Most importantly, by creating pathways for creators to own not just the content they produce, but the platforms themselves
from The Web3 Renaissance: A Golden Age for Content by Katie Parrott
sari added 3y ago
Web3 has the potential to unlock incredible opportunities for everyone who contributes and creates on the internet: a true Golden Age of content that we’ve all been looking forward to.
from The Web3 Renaissance: A Golden Age for Content by Katie Parrott
Kaf added 2y ago
- This is the story of how the web2 internet broke the business model of media, and how the advent of web3 signals a disruption to that business model that tilts the scales in favor of creators. Without native monetization methods built into the web2 internet, the predominant business models were opaque, advertising-based, and dependent on closed-gar... See more
from The Web3 Renaissance: A Golden Age for Content by Katie Parrott
sari added 3y ago
- -By introducing new programmable economic models that spread wealth -across the creator landscape
from The Web3 Renaissance: A Golden Age for Content by Katie Parrott
sari added 3y ago
- At the heart of the story of how the internet broke the media business model is the simple fact that the internet was not built to facilitate the flow of money. Payments weren’t built into the internet’s infrastructure—it was considered too risky. Marc Andreessen called this “the original sin of the internet.”
from The Web3 Renaissance: A Golden Age for Content by Katie Parrott
sari added 3y ago
- Jesse Walden defines “patronage+” as patronage with the possibility of profit, a phenomenon that is introduced through tokenized ownership. That investment element was an impossibility in web2 without an on-chain record of ownership like an NFT or a social token (imagine trying to resell a TikTok video that was downloaded from the app).
from The Web3 Renaissance: A Golden Age for Content by Katie Parrott
sari added 3y ago
- For fans, the possibility of profit amplifies their incentive to support a creator. Interestingly, it also introduces an entirely new segment into the creator’s orbit that had never existed before in web2: speculators. Importantly, all of these users—by virtue of becoming owners of an asset that is aligned with the creator’s success—have an incenti... See more
from The Web3 Renaissance: A Golden Age for Content by Katie Parrott
sari added 3y ago