Web3 offers the opportunity for a meaningful course correction — a chance to reimagine the internet and build new platforms from first principles. But in order to do that, we need to agree on what those principles should be, and why.
Early versions of token distributions have led to unsustainable dynamics wherein speculators are rewarded instead of those who are adding consistent value to networks through actual usage.
Weekly spending at selected brands jumps up by 40% and stays persistently high for 3 to 6 months. In terms of USD, eligible spending averages 56 USD per week so this corresponds to approximately a 23 USD increase in spending per week.
Web3 presents the opportunity to build an entirely new internet — indeed, entire new economies — from scratch. The question then becomes: What kind of internet should we be creating?