Sublime

In short, prioritize your product over your token.

Crypto Bezos might not be afraid to retain centralized control over the business while giving customers upside via social tokens instead of going full DAO.

While venture capitalists are optimising for value extraction per mandate, crypto cooperatives intend to create and distribute value as broadly as possible in order to stay minimally extractive long term. This is why decentralization matters.

Most of the widely adopted products right now are extremely transactional - apps that help you exchange tokens for example. As Jesse Walden correctly points out, these products should commoditize their applications in order to drive more demand for their truly differentiated product, the underlying exchange.

Onboarding Web3's next billion users will require thinking from first principles, encouraging exploration, abstracting complexity, prioritizing usability, and clearly demonstrating value. Figuring out what matters to the people it should matter to.

No doubt there are many unanswered questions. The technology to enable this new model still has a way to go and, for it to be useful for most creators, it will have to become a whole lot less “crypto-y.” Web3 is growing fast, but most creators and consumers just want to create and consume content without having to dive too far down the rabbit hole.... See more