The only people expressing skepticism about web3 are those who have built scaled consumer products in the last 5 years. Everyone else is all in.
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> built scaled consumer products in the last 5 years
🙂 Do you consider apps like Coinbase and Binance with tens of millions of users to be scaled consumer products?
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Basically, crypto exchanges and defi apps have seen stunning vertical growth this year. It’s faster than any other sector, I think.
Last year there were 100M cumulative crypto users worldwide (see below). This year I’d guesstimate likely 200M or more.
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In other words: I get your joke, I laughed at the tweet, but on reflection it actually cuts the other way.
Because all the consumer growth this year was in web3.
And if one is building a consumer product in a 5 year old way, without token or community, may be the wrong approach
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The only people expressing skepticism about web3 are those who have built scaled consumer products in the last 5 years. Everyone else is all in.
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My main qualm is the founders who set out “to build a web3 company.” Web3 is just a set of tools. When you lead with the tool, you end up with a solution in search of a problem.
(I’m also skeptical of user numbers—it feels like counting AMC shareholders as customers)
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1) Agree it’s a set of tools. But tools like the internet, browser, or smartphone. Changes nature of user experience. Make money, control digital property.
2) Not just user numbers, billion dollar traction. Coinbase is public. See also coinmarketcap.com, etc.
not only digital. Web 3 provide tools to govern rights to any kind of assets, physical too. Rights are social consensus, that better be digital, user owned, and community governed.
Can you or anyone give one specific plain English example of how this would help the average person like me?
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Nature of experiences change, but successful businesses will tap into unchanging needs/desires