Token Economy: How the Web3 reinvents the Internet (Token Economy: How the Web3 reinvents the internet (English original & foreign language translations))

Tokens are to the Web3 what websites were to the Web1.

-Tokens: With data monopolies non-existent, blockchains use network tokens as an incentive instrument that captures value for the open network.

Web3 in its current form is also exacerbating inequalities. Web3 projects commonly issue crypto tokens as digital representations of value. Early versions of token distributions have led to unsustainable dynamics wherein speculators are rewarded instead of those who are adding consistent value to networks through actual usage.

Ethereum enabled the creation of tokens - software based units of value that grants users ownership rights and even revenue streams.

But Ethereum and the web3 movement is changing the game. Social tokens provide a means of not only sharing financial upside with their favorite creative but also enables tiered, tokenized access based on active contributions.

In the Web3, values are represented by cryptographically secured tokens.