How to pay for Web 3
Do you think there’ll be some element where users with wallets voluntarily self-publish their off app data on chain, in exchange for either unique content, or higher social status, inside distributed apps?
The rough vision I had was that an auction mechanism would be run on either chain or by advertisers theme selves, instead of via by content delivery companies. Then, feeds would include mixtures of ads and organic content, with the ad bounties paid mostly direct to users.
That seems like it solves this “if you aren’t the user, you’re the product” problem. People aren’t going to make themselves more legible unless the rewards are tangible and real. Twitter and other social networks are in this position to monetize the value of the status they create.
Do you envision (let's say the V1 of) this system to serve primarily on Web 2 media or Web 3 media?
It would seem that in order to siphon users from Web 2 it would need to serve on Web 2 media. Wed 2 media / user attention today is monopolized by gated publisher platforms and tech giants. So for this to work does it require the Google/FB/Twitters of the world to use this system to serve ads (and why would they)?
As a Web 3 -> Web 3 ads system (or as a precondition for economically viable Web 3 media to exist) I get it. The Web 2 -> Web 3 part seems fussier
While reading this I kept thinking to myself that blockchain-based technologies aren't going to be competitive unless they can solve their efficiency problems. Gas fees are a symptom of inefficiency.
Then it occurred to me that inefficiency will mostly not matter in a world with cheaper energy.
Capital costs of computer equipment are dwarfed by energy costs. For the biggest tech companies how much power they can pull from utilities is the constraint on how much computing power they can deploy. Buildings sit half empty for lack of available power.
A fusion breakthrough be the thing that enables Web 3 to work for most people.
I really think web3 is being forced on us. I’m sure blockchain might have some practical use down the line, but I don’t think it’s the next iteration of the web. This is all fomo talk from the technorati. We’re headed for some kind of augmented reality with smaller wearables—probably leading to implanted chips. A few generations from now will look back at the primitive ways we fried our brains with alcohol and pharmaceuticals. Every kind of human emotion or experience will be a click away. And you can take those trips either ad free or sponsored.
Felt like I was reading Chaos Monkeys with the kerouacean setup into a breakdown of ad exchanges but this time web3. The parallels of both problem and timing with book and now are quite insane to me.
FB - Offline user data <> Online User Data, monetization problems, need ads
web3 - Off-chain data <> On-chain data, monetization problems, need ads (and a user retention problem?)
Excited to see what you are building!
Things you've done well
- Ride your jeep across the country to raise awareness of crypto
- Make the attention economy as metaphorically simple as the fishing industry (fish -> fishermen -> fish broker -> distributor -> distributor -> grocery store -> your plate )
Things I wanna see more of:
- A deeper dissection of the token mechanics for attention versus creators if not confidential. Creators do shout outs for brands at a snails pace to ad auctions.
- How to make open, efficient, advertising, not privacy invasive.. Hmm maybe creator is the keyword. Cookies are a tax on lurkers for the privilege of the web. Creators get paid since anything fully visible to the internet is fair game and they forfeit privacy in exchange for remuneration. Hmm cached keyword detection models, cached image detection, caching all the principles of influence.
If what your writing raises this many questions, it's a sign it's really good not criticism.
edit: so it sounds like your company is on helping web3 companies with ad management. raises different questions.
Amazon, Google, Apple, Meta... it's always about the friggin advertising.
Totally agree that social/creator economy fueled by as revenue is the high slope to mass adoption. I just wrote 2 article about exactly this on my SS
> Few tech giants of the past have ever been unseated from their dominance via competition alone: Microsoft never lost the desktop, Google never lost search, Twitter has never lost the public square, Amazon will never lose e-commerce, and Apple will never lose mobile devices.
Notable via absence is the big tech company most frequently accused of being a monopoly, despite, in reality, being the big tech that has continually faced relentless competition.
How about we name it "DecAd" (Dehk-ad) ?
> we discovered there were roughly four devices for every Facebook user ID
Out of curiousity, did you ever figure out general profiles for what the devices tended to be? 3 is easy - home computer, work computer, personal phone. I guess the fourth is likely a combination of work phones and “whatever random computer people tended to log in on additionally”?