Web3 Social: A booming space with an identity crisis

I think what’s more interesting about Web 3 and the angle that I would love to explore more is, in so far as it serves as a vector for allowing platform participants to become the owners of the platforms themselves.

In web3, the situation is different.  New marketplaces can aggregate all existing NFTs. New social networks can surface all on-chain activities regardless of whether users ever signed up. How can a moat develop?  A potential answer is tokens.

Web3 platforms also have the potential to unlock a novel and especially powerful form of network effect through community engagement and social cohesion. 

In Web3, instead of platforms having full control of the underlying data, users typically own whatever content they have created (such as posts or videos), as well as digital objects they have purchased.