Justine Humenansky (Strategy @ RabbitHole) on ownership networks

  • Community is about putting smart people together and letting something happen.
  • Web2 social networks were built to create value for platforms. Web3 social networks are being built to create value to participants.
  • Social networks are based on human interaction. Web3 will not change this and will not fix all of the issues (signaling status, etc.).
  • Status on Web2 is based on association. Status on Web3 is based on ownership.
  • If you’re interested in getting more involved with crypto or Web3, you should check out Metamask for your wallet, Mirror for publishing, and OpenSea for buying NFTs.
  • Crypto used to mean “money”. DeFi then brought on people that understood finance. NFTs are culture, and they are bringing on the rest of mainstream users.
  • DAOs are digital co-ops that allows members to own and vote on the actions of that DAO. Funds are held in a wallet, and in order for financial decisions to be made, a certain percentage of members need to agree.
  • The downsides of DAOs are that there is a ton of regulatory and legal ambiguity. Until there are clear laws here, you will see DAOs have to wrap themselves under different structures in order to stay compliant.
  • The idea of permission-less fundraising is here to stay. Expect VCs to continue to pitch communities for access into these fundraises.