In the last few months I have participated in numerous discussions where the term Web 3.0 seems to bring a very disturbing vision that will affect everything and everyone. In one of these conversations, his friend Daniel Murta referred me to a text written by Lee Jin on the subject.
Not only is the text visually appealing, it simply manages to convey the transformation we are about to undergo. I am bringing here what she described by adding some of my reflections on the subject.
There were a number of issues in the text that caught my attention, beginning with the fact that today we know that the Internet does not have a way to facilitate the flow of values through it. Everything we do has money in it, for example, from the outside and with a lot of friction, using credit cards, using ads, etc. According to the text, Mark Anderson calls it “the original sin of the Internet.” .
This is an angle that, even after seeing the most complex forms of monetization on the internet, I never thought about it until I saw this explanation.
The role of the Internet was to shift the focus of power from the hands of content consolidators (publishers) to larger platforms.
Having multiple users, over the years, has become a feature of every web entrepreneur. Many business models have evolved based on this logic. The logic of investing a lot of money to get users, you have to bear long term losses and then, with a large customer base, you can monetize the business. So how many unicorns were built today.
This created a large platform. Facebook and Google say so.
What Web 3.0 changes is that, with all the technology around it, it makes it possible to create a way to interact with many new revenue models, more directly, more transparently and without creating as much friction as the models do. Do current.
In other words, what is being created shifts the power focus from the platform to the manufacturer, the individual, and so on. This has already had a profound effect on all industries, and the growing focus of numerous venture capital funds on web ventures is certainly 3.0. Signs of this change.
I have always seen the creation of NFTs, DAOs and new programmable financial models as important links in this new phase. In the last few months, I have practically taken my last breath. Study, test and invest in numerous models focused on creating new coins.
Spectacular projects centered around the idea of this shift in power. Having control over all aspects of the currency, in a programmed and transparent manner, is a concept that always appears in the discussion. The use of NFTs is always likely to be studied, and the emergence of an administrative structure that enables early implementation of the DAO is also part of this.
Lee’s text brings up another aspect, that support for producers will be an investment and no longer a philanthropic act, as it will help the investor to purchase specific NFTs and, in the case of art NFTs, develop artists markets. For that.
I don’t see this as a big change in the model, but now I see this artist as an extension of the investor audience. Investing in artists, whether online or not, has always been the business of many art galleries around the world. The big difference here is that the artist now has access to a very high level of investors and he can get a share of future income not only from the first sale but also from the negotiation of his art. Definitely a significant change.
It is the desire of the entire generation there to have control and power over all things effectively without centralizing the third party without representing their own theories, and this is the way to complete the development of Web 3.0.
By questioning the validity of this concept, it will affect everything you look forward to: does that platform represent my values? And that bank? And that politician? And that political system?
Crypto utopia of creating a community around distributed government, where everyone decides practically everything and everything belongs to you directly, is coming closer and closer to us and is likely to happen globally.
These initiatives raise the question of how to address issues such as cultural differences, ethics and other social issues. For me this is the biggest challenge of this new world that we are seeing its creation today.
Then share your thoughts on this.
Podcasts: Fintech and new investments
Links used in this article and for those who want to continue:
The Web3 Renaissance: A Golden Age for Content – by Lee Jin
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