In a world where the amount of things you can speculate on is ever increasing - it’s more efficient to find the next airdrop than contribute meaningfully to a single project.
The result is a depleted treasury and lots of speculators, with no resulting impact on retention/growth.
web3 protocols enable two types of decentralized ownership:
#1: ownership of content (tokens, NFTs, data)
#2: ownership of the protocol itself
controversies about VCs owning web3 are *all* about #2—fair enough.
but don't forget #1 is revolutionary... See more