Chris Dixon and Packy McCormick on the Future of Crypto

Ethereum enabled the creation of tokens - software based units of value that grants users ownership rights and even revenue streams.

In 2022, it will become clear to more people what many in the web3 world already know; the best way to rein in big tech companies is through competition, not regulation.

The year ahead will show that blockchains can support a lot more applications beyond money and finance. In 2022 decentralised services will chip away at big tech companies’ stranglehold on the internet. A cluster of new “web3” technologies, such as tokens, will dramatically improve the digital economics of creators, technologists and small business... See more

The real story is that NFTs are a key building block for a new wave of web3 services that radically alter the economics of the Internet, redistributing value and control from tech giants back to users, developers, and small firms.