Networks like Ethereum took the idea of collective value creation to the next level by providing a public infrastructure for creating an application token with only a few lines of code.

Purpose-driven tokens provide an alternative to conventional economic systems, which predominantly incentivize individual value creation: private actors to extract rent from nature or from the workforce, and transform this into products, often externalizing costs to society, while internalizing (and maximizing) private profits.

While the Web2 was a front-end revolution, the Web3 is a backend revolution.

If we assume that the WWW revolutionized information, and that the Web2 revolutionized interactions, the Web3 has the potential to revolutionize agreements and value exchange.

This family of protocols regulates the transmission of data, not how data is stored.

Token Curated Registries (TCRs) are a cryptoeconomic mechanism designed to incentivize the collective curation of public lists or content feeds in a social network.

We also lack substantial education around the mechanisms, potentials, threats, and state of the technology, including its socio-economic implications.

The protocol formalizes the governance rules of the network and ensures that people who do not know or trust each other reach and settle agreements over the Web.

The study of economics, public choice theory, theory of public goods, and behavioral sciences will be essential for a better understanding, and as a result, also a better design and engineering process of purpose-driven tokens