https://lh6.googleusercontent.com/mZB0dy8Ulwb-pCTXrYV7fMVKQK9KKLlmOywTk7mnl0EdikkUu5Y4nWU0-JQL6lHM_-MiLGII5cwPXNZx0zGhU956U9z5ykE0ePoGsOZXD8J82qTzWT3mNyRlLDqyfgl8JNHItiQ_

https://www.youtube.com/watch?v=jezH_7qEk50&t=1986s

A few weeks ago I stumbled upon a great podcast episode from Bankless (highly recommendable) with Chris Dixon (internet entrepreneur and investor, general partner at a16z) explaining why Web 3.0 is here to stay — outlining this with the five mental models on web 3.0.

1.“It’s just a toy” , “Tell me one real life case that crypto really solves” — we often dismiss new technologies early on as we cannot see the value, but new technology often does not immediately solve a problem. Think back — the first computer, facebook in the first months,… were far away from what they are today. Innovation happens over time.

<aside> 💡 “Dig deeper, ask the right questions, and don’t write things off too soon”– Chris Dixon

</aside>

2. The importance of Web 3.0 — the crypto community is establishing a new era of the internet. Web3 is owned by users/builders, facilitated with tokens, who do big bets. Innovation won’t come from companies like Google, Apple etc., they just do incremental innovation.

3. Tokens are the new websites — Web 3.0 gives more ownership to the individual with owning a coin, piece of media, an avatar, code, etc. It’s the first time a user can really own something.

“Tokens give users property rights: the ability to own a piece of the internet”– Chris Dixon

4. Take rate = opportunity — The most vulnerable businesses (e.g. music industry,…) will switch first to Web 3.0 for monetization.

5. New economies will be based on networks — in the last years we’ve built millions of networks, NFT communities on Twitter and Discord have now built economies on top of this. Creators have/will soon understand this opportunity to monetise their content and use it.

But what does this mean for us, what are the products?