The Rapid Accelerant That Is Web 3.0
We can see the massive acceleration of growth by simply looking at a blockchain like HIve. The fact we are dealing with friction being removed from the system tells us that we have an exponential impact with each artice, video, and comment.
In this video I discuss how this operates and how it could scale massively.
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How much value might such an NFT have? And how many such NFT’s would have a marketplace that might come up with a non-zero price for that value?
For 99.999% of such NFT’s, probably none.
But for a small few, yeah, it might be significant. You might be able to own the first post/comment by Famous Person X.
Hell, didn’t somebody buy Jack Dorsey’s first tweet? That was an odd one-off, but it’s a precedent.
It was Justin Sun and it has no value since the Tweet is owned by the platform.
As for the rest, there could be huge value in NFTs based upon the utility and what they are tied to. An image on a page..no value; a page that generates $5,000 per month, that has significant value.
I haven't used other front ends apart from Peakd, so I didn't realize this advantage. This is actually really good for visibility, and when trying to find content. Instead of using search engines to look for something, eventually one can just look in hive to find it.
If you arent using Leo, then you are cutting yourself out of potential earnings in Leo.
Yeah, that's true. I was just so used to using Peakd. But I really need to make the switch.
Hive is experiencing an acceleration in price too. Thanks to Web 3
Summary:
In this video, Task discusses the concept of Web3 and its potential to revolutionize data sharing and ownership on the internet. He uses the example of Hive, a blockchain platform, to illustrate how content creation and distribution can work on a decentralized network with multiple front ends or UIs. Task emphasizes how Web3 allows for greater scalability and diversity in content presentation compared to Web2, where data is centralized. He explores the idea of data ownership in Web3, highlighting the various ways in which content creators and UIs can interact within this new paradigm. Task concludes by underscoring the power and potential for growth that Web3 offers to those involved in the ecosystem.
Detailed Article:
Task commences the video by addressing the concept of Web3 and its transformative impact on data sharing and growth acceleration. He focuses on the importance of reducing friction from data to facilitate faster growth within the digital landscape.
Task uses the blockchain platform Hive as a case study to demonstrate the differences between Web2 and Web3. He highlights how traditional Web2 structures involve content ownership by specific entities like Substack or Medium, limiting data accessibility. In contrast, Hive's decentralized model allows multiple front ends or UIs to host the same content, thereby multiplying the reach and impact of each piece of content.
He elaborates on the scalability of Web3 by explaining how each UI can add a layer of customization to the content, creating unique user experiences across different platforms. This approach results in higher visibility and engagement for creators as their content is distributed widely across various UIs.
Furthermore, Task delves into the topic of data ownership within Web3, discussing the different possibilities and models that can govern content ownership and monetization in this decentralized environment. He introduces the concept of NFTs as a potential tool to establish ownership rights over specific pages or content within the Web3 framework.
Task emphasizes the significance of Web3 thinking and its potential for immense growth and innovation within the digital realm. He underscores the benefits that coin holders and digital real estate owners can derive from participating in this decentralized network.
In conclusion, Task encourages viewers to embrace Web3 principles and be part of the evolving digital landscape that prioritizes decentralization, data ownership, and network empowerment. His insights shed light on the revolutionary possibilities that Web3 offers for content creators, UIs, and participants in the digital ecosystem.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.