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The Web3 Renaissance: A Golden Age for Content
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.
Katie Parrott • The Web3 Renaissance: A Golden Age for Content
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).
Katie Parrott • The Web3 Renaissance: A Golden Age for Content
-Most importantly, by creating pathways for creators to own not just the content they produce, but the platforms themselves
Katie Parrott • The Web3 Renaissance: A Golden Age for Content
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.”
Katie Parrott • The Web3 Renaissance: A Golden Age for Content
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
Katie Parrott • The Web3 Renaissance: A Golden Age for Content
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
Katie Parrott • The Web3 Renaissance: A Golden Age for Content
If the pre-internet/web1 era favored publishers, and the web2 era favored the platforms, the next generation of innovations—collectively known as web3—is all about tilting the scales of power and ownership back toward creators and users.
Katie Parrott • The Web3 Renaissance: A Golden Age for Content
The promise of DAOs is alignment of incentives through stakeholder primacy and a removal of the need to extract value. The result: a democratized, disintermediated content landscape where creators have control over their work, how it’s distributed—and how it’s valued.
Katie Parrott • The Web3 Renaissance: A Golden Age for Content
A new generation of technologies is emerging with the promise to change the balance of power in the creator economy. If the pre-internet/web1 era favored publishers, and the web2 era favored the platforms, the next generation of innovations—collectively known
... See more