Web 3.0

1/ Topic: Turning networks into economies 🧵

The most successful web3 social apps are going to look completely different than web2 social (rather than building "decentralized Twitter/FB/X") They'll lean into financial speculation & create new economic status games.

From breaking news and entertainment to sports and politics, get the full story with all the live commentary.

A Wildfire Approaches! 🌳_🔥 Today 🔥_🔥 is announcing the Wildfire DAO. Wildfire DAO connects Ethereum community members to tackle token design, governance and coordination within specific sectors of web3 ⬇️

This is super fun! Minted (& immediately opened my pack). Pure, good, internet energy. ~80 ppl collaborated (chaotically) to create 45 songs into a collection of ~21k songs (with generative cover art).

Web2 moat: network effect Web3 moat: composability

How web3 data portability reduces the power of centralized services 🧵

Web3 will be defined by “token effects” and not traditional network effects. What does that mean? Token-based projects have a better shot at building powerful and useful networks that are user-owned and operated. (visualized brilliantly by @LeConcurrential)

web3 comms are broken: • Discord overload • spam • scams web3 comms we actually need: • contract-to-wallet (eg. verified project announcements) • wallet-to-wallet (eg. reach a specific NFT holder) • wallet sign-in for token-gated communities (vs. hacking w/ collabland)

Why Web 3 Matters 🧵...