A THREAD on most insightful tweets on web3, creator/ownership/crypto economy++ shared by @ljin18:
1/
Web3 is the era of the internet in which users can own a part of the services & networks they contribute to.
1/
Web3 is the era of the internet in which users can own a part of the services & networks they contribute to.
2/
Extracting from those who are in positions of less leverage is the OLD form of capitalism; web3 gives us new primitives that align participants w/ platforms.
Extracting from those who are in positions of less leverage is the OLD form of capitalism; web3 gives us new primitives that align participants w/ platforms.
3/
Platforms—left unchecked and with winner-take-all dynamics—yield a 21st century version of serfdom.
What comes after neo-feudal capitalism?
DECENTRALIZED CAPITALISM
Platforms—left unchecked and with winner-take-all dynamics—yield a 21st century version of serfdom.
What comes after neo-feudal capitalism?
DECENTRALIZED CAPITALISM
4/
Creators are internet-native workers.
They are using tools to produce something of value for an end user.
The reason why the creator economy is now intersecting with the crypto economy is because cryptonetworks provide a way to distribute that value more fairly.
Creators are internet-native workers.
They are using tools to produce something of value for an end user.
The reason why the creator economy is now intersecting with the crypto economy is because cryptonetworks provide a way to distribute that value more fairly.
5/
The biggest opportunity of our time is to reconfigure the relationship between capital and labor i.e. to make them one and the same.
To solve creators' economic precarity, the fundamental issue to fix is OWNERSHIP.
The biggest opportunity of our time is to reconfigure the relationship between capital and labor i.e. to make them one and the same.
To solve creators' economic precarity, the fundamental issue to fix is OWNERSHIP.
6/
Today, it seems inconceivable that for much of human history, people accepted the 'divine right' of monarchs as a legitimate source of power.
Years from now, we may look back on this era and wonder why we were accepting of autocratic companies led by 'enlightened dictators.'
Today, it seems inconceivable that for much of human history, people accepted the 'divine right' of monarchs as a legitimate source of power.
Years from now, we may look back on this era and wonder why we were accepting of autocratic companies led by 'enlightened dictators.'
7/
As demonstrated throughout history — from the French Revolution to the growth of Wikipedia — the power of the distributed many can sometimes greatly outperform the power of the hierarchical few.
As demonstrated throughout history — from the French Revolution to the growth of Wikipedia — the power of the distributed many can sometimes greatly outperform the power of the hierarchical few.
8/
Hundreds of years from now, it will seem inconceivable that people didn't have ownership--economically or governance-wise--in the structures that occupy most of our waking hours and that we pour so much of our energy into.
Hundreds of years from now, it will seem inconceivable that people didn't have ownership--economically or governance-wise--in the structures that occupy most of our waking hours and that we pour so much of our energy into.
9/
The passion economy is the what; the ownership economy is the how.
The passion economy is the what; the ownership economy is the how.
10/
New DAO coordination and governance tools, and the ability for tokens to attract outside capital, give us a shot at building internet communities that can rival the competitiveness of any centrally-controlled org.
New DAO coordination and governance tools, and the ability for tokens to attract outside capital, give us a shot at building internet communities that can rival the competitiveness of any centrally-controlled org.
11/
Experimentation around internet-native governance endeavors enable diverse member bases to coordinate decision-making at scale.
Eg: - The digital art marketplace @SuperRare recently launched a token to decentralize curation and oversee a treasury that is collected...
Experimentation around internet-native governance endeavors enable diverse member bases to coordinate decision-making at scale.
Eg: - The digital art marketplace @SuperRare recently launched a token to decentralize curation and oversee a treasury that is collected...
...from platform commissions and fees.
12/
Within our lifetimes, DAOs will disrupt countries.
Within our lifetimes, DAOs will disrupt countries.
13/
Cryptonetworks lower the barriers to owning capital.
- Accredited investor requirements lock out many from accessing better investment opps
In contrast, crypto tokens reward the people who built a network
Cryptonetworks lower the barriers to owning capital.
- Accredited investor requirements lock out many from accessing better investment opps
In contrast, crypto tokens reward the people who built a network
14/
these are modern experiments in Universal Basic Capital:
- daos
- play-to-earn
- airdrops
- staking
these are modern experiments in Universal Basic Capital:
- daos
- play-to-earn
- airdrops
- staking
15/
If women are other marginalized groups are under-rewarded for the work they do, the anon culture of crypto presents a massive opportunity for bias reduction and blind recruitment
If women are other marginalized groups are under-rewarded for the work they do, the anon culture of crypto presents a massive opportunity for bias reduction and blind recruitment
16/
Who is building a marketplace for productive NFT assets?
E.g. to compare different Zed horses or plots of metaverse land by stats, earnings, etc.
Feels like a big opp'y given the verticalized feature set & education needed.
Who is building a marketplace for productive NFT assets?
E.g. to compare different Zed horses or plots of metaverse land by stats, earnings, etc.
Feels like a big opp'y given the verticalized feature set & education needed.
17/
"Yield Guild Games can be seen as the crypto-native version of a workers’ union; its large contingent of gamers allows it to negotiate for better platform policies and design."
"Yield Guild Games can be seen as the crypto-native version of a workers’ union; its large contingent of gamers allows it to negotiate for better platform policies and design."
18/
Recipe for success in consumer social: satisfy users' desire for love, fame, or riches better than everything else. It's as simple and as complicated as that.
Recipe for success in consumer social: satisfy users' desire for love, fame, or riches better than everything else. It's as simple and as complicated as that.
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