And pay attention to the wallet. The wallet is more than a place for digital money. It's a foundation of identity. It will become an important connection to authenticated media experiences.

What's more Web3 presents a rich new palette to think about consumer engagement for every media company around how to incent participation, create hybrid membership / ownership structures and more broadly make interacting with content more fun for consumers. Perhaps another way to think about Web3 is as an open gaming platform for everything.... See more

Sam Lessin: Web 3.0 is — at the most abstract level — really about right-sizing communities to a scale people can have a sense of personal purpose and place. It is about giving people ownership in meaningful way in the context of the people they want to be with and impressively extending that experience.

Joe Krause said: "The 20th Century was about dozens of markets of millions of consumers. The 21st Century is about millions of markets of dozens of consumers."

In short, Web3 forces continued erosion of the power of gatekeepers.

-Creation: more tools and better economics empower individual creators

-Management: blockchain simplifies monetization, payments, and rights management

-Distribution: Pressure on platforms to improve transparency and economics. Data portability gives creators power.

-Community: New ways for community to connect directly, participate in governance and ownership.