We are now at the beginning of the web3 era, which combines the decentralized, community-governed ethos of web1 with the advanced, modern functionality of web2.

Web3 is the internet owned by the builders and users, orchestrated with tokens.

When they hit the top of the S-curve, their relationships with network participants change from positive-sum to zero-sum. To continue growing requires extracting data from users and competing with (former) partners.

In web3, ownership and control is decentralized. Users and builders can own pieces of internet services by owning tokens, both non-fungible (NFTs) and fungible.

Tokens give users property rights: the ability to own a piece of the internet.

Tokens align network participants to work together toward a common goal — the growth of the network and the appreciation of the token.

This fixes the core problem of centralized networks, where the value is accumulated by one company, and the company ends up fighting its own users and partners.