Thread by @CroissantEth

Web 3.0

You’ve probably heard tons of things about this by now, but do you really know what it means and how deep it can go?

Let’s discuss! 🥐

From my understanding:

The “Web 3.0” aims to be the next generation of the internet based on an open network of interconnected decentralized applications

It is censorship-resistant, & there are no silos or boundaries like the internet has today

The Web 3.0 additionally has the potential to bring value to entirely new asset classes by offering platform-agnostic ownership of digital items with verifiable authenticity that everyone can agree on

Before the blockchain, this had not been possible.

https://twitter.com/croissanteth/status/1427415470412648450

Our innate values of different forms of ownership, connections, and scarcity can’t be tampered with in the Web 3.0 economy

That is because value is “baked in” to the previously intangible assets themselves at the technical level on the blockchain

https://twitter.com/croissanteth/status/1427415600708587525

Let’s compare to fully understand the implications of this

Option A:

Set up Medium, try to make a website & get paid through Google Adsense

Pros

-Easy?

Cons

-Medium takes 50% cut
-Google takes 32% cut
-Services are centralized across one platform
-Lack of ownership
-Limited

Option B:

Create NFT which gives access to special pages on my blog, grants users roles in my secret discord, while getting them in a room in the metaverse

+

automatically distribute a % of Croissant NFT sales back to the holders

I think we all know what I will choose here (;

https://twitter.com/croissanteth/status/1422043974471241730

Anyways, I hope this clears some of the confusion regarding what Web3 𝘢𝘤𝘵𝘶𝘢𝘭𝘭𝘺 𝘪𝘴

I think of it like a series of open decentralized building blocks for people to create entirely new types of dApps on $ETH

I hope you guys enjoy, & stay tuned for the Croissant NFT! 👀