Web 2.0

Web2 moat: network effect Web3 moat: composability

Web3 applications lack some traditional sources of defensibility, but have a new powerful one: tokens. Let’s explore “token network effects” ⬇️

In web2 we talk about “users” and “viewers” being “acquired” In web3 we talk about “owners” and “members” who “join” and “participate.” words matter & we’re seeing an ecosystem and language get built around purposeful action in a very cool way.