Web3 applications lack some traditional sources of defensibility, but have a new powerful one: tokens.
Let’s explore “token network effects” ⬇️
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Web3 applications lack some traditional sources of defensibility, but have a new powerful one: tokens. Let’s explore “token network effects” ⬇️
The Token Is The Product
m.mirror.xyz
Web3 will be defined by “token effects” and not traditional network effects.
What does that mean? Token-based projects have a better shot at building powerful and useful networks that are user-owned and operated.
(visualized brilliantly by @LeConcurrential)
Web3 platforms also have the potential to unlock a novel and especially powerful form of network effect through community engagement and social cohesion.