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In 2020, Discord earned just $1.30 in Average Revenue Per User (ARPU). That would rank it last among the public social media companies by a wide margin.

The internet stage is more crowded. Attention is more expensive. Making one's voice heard has gotten harder. The good days of cheap Facebook ads are behind us. Turning users into contributors and advocates is a hard-to-crack but high-rewards marketing strategy. Community is the new Moat.

Second, most community members complain that, on chat platforms, they often answer the same question or address the same concern many times over. The conversations just disappear too quickly for others to easily find, and since they’re not indexed or perma-linked, it’s difficult to reference previously answered questions.

In the future, purchasing an NFT will entitle the owner to certain rights related to its content: the right to own and keep; the right to sell, license, and lend; as well as the right to royalties, the right to confer reuse (i.e. “movie rights”), and so on. That’s why taking a photograph of the Mona Lisa is not the same as actually owning Leonardo... See more

There are a couple reasons for this. First, crypto is massively market expansionary (e.g., how many thought Uber’s addressable market was the size of the pre-Uber taxi market). And second, Crypto will absorb the monetary premia of many non-money assets that act as an inflationary hedge."

Traditionally, tech gets "consumerized" when people stop talking about the tech. Nobody says "hey you should use Instagram b/c it's on Python".  Before NFTs, we explained crypto by talking about Byzantine consensus.  NFTs abstract that away. It's crypto's consumer moment.