sari

If you went back in time to a prehistoric village and asked, “how do you solve the coincidence of wants problem?” they’d look at you strangely: “What? We don’t have that problem. If I need grain and my neighbour has it, he gives it to me, and then I owe him one.” This idea, “I owe him one”, is simple and powerful: the fundamental unit of commerce i... See more

Tokengated commerce starts with an observation: that there’s a new kind of internet user out there in the world, called people with wallets.

Without this expertise, he said he thought that the company had built incentives into the app that encouraged users and media outlets to write tweets and headlines that appealed to sensationalism instead of accuracy.

If you want to sell a product online, publish a game, or distribute a new app you built, you must pay a tax to one of several dominant aggregators. “Real estate” on the internet can therefore be much more competitive than it is in the physical world, where you pay a market-based rent, but foot traffic comes for free.