Crypto’s Business Model is Familiar. What Isn’t is Who Benefits

We will need applications built on crypto rails to connect with friends, find restaurants, share photos, and so on. Those products will still feed the protocols underneath them, but they will also be expensive to build and only possible if they can capture significant value on the application layer.Enter membership moats.

Because Braintrust relies on a protocol for things that humans might do in a normal marketplace, and because it can pay for work that other marketplaces would need to use cash for with tokens, it can keep fees lower (but will need to make it up by giving away ownership). Giving away ownership might actually create more long-term value, because thos... See more