Why Web3 Matters - Future

In web3, ownership and control is decentralized. Users and builders can own pieces of internet services by owning tokens, both non-fungible (NFTs) and fungible.Tokens give users property rights: the ability to own a piece of the internet.

NFTs exist on top of blockchains like Ethereum. Ethereum is a decentralized global computer that is owned and operated by its users.

NFTs give users the ability to own objects, which can be art, photos, code, music, text, game objects, credentials, governance rights, access passes, and whatever else people dream up next.

Tokens align network participants to work together toward a common goal — the growth of the network and the appreciation of the token.  This fixes the core problem of centralized networks, where the value is accumulated by one company, and the company ends up fighting its own users and partners.

Ethereum is powered by a fungible token, ETH, which is used to incentivize the physical computers that underlie the system. ETH is also the system’s native currency for transactions, like NFT purchases.

We are now at the beginning of the web3 era, which combines the decentralized, community-governed ethos of web1 with the advanced, modern functionality of web2.

There are many ways for users to acquire fungible and non-fungible tokens. You can buy them, but there are also ways to earn them.

Web3 is the internet owned by the builders and users, orchestrated with tokens. 

Blockchains are special computers that anyone can access but no one owns.