Last March G20 Member Patrick MeLampy introduced us to Henry Katz, a senior engineer who had “joined a bunch of folks trying to get a business off the ground in the Web 3.0/Block chain space, solving a problem around analyzing provenance of NFT’s.” We were intrigued.
Brands have always lived in the space between a product and a customer. What’s really changed in Web3? Two things, actually. And if you’re trying to build the community to support a Web3 project, you need to understand them, so you can put them to work for you.
Web3 Will Bribe You To Get What It Wants. It Will Work.
The titans of today’s Internet got that way by getting early adopters to do what they wanted. To understand how Web3 startups are winning the race to create tomorrow’s Internet, you need to understand that while their strategy is the same, their tactics include a powerful new tool even the most entrenched Web 2.0 overlord can only dream of: bribing users to get what they want.
Web3 is about communities. And you start one with a story.
News just broke about our investment in Napster, as part of a syndicate taking the OG music streaming service private. I’ll share the highlights of that story here, touch on what’s happened in the music industry in the last few years, and describe the opportunity we see as NFTs change the relationship between creators and their fans.