🚀 Web3 primitives & evolution (with Packy McCormick)
What will sustainable digital ecosystems look like as Web3 evolves? This week I invited Packy McCormick, analyst and majordomo of Not Boring, a newsletter, onto the podcast, where we explore the possibilities of Web3 primitives, the evolution of governance, and the next generation of Internet platforms.
Listen to our conversation here.
The big idea
We start by discussing the idea of primitives, which I think of as similar to those versatile, foundational Lego blocks that help make more complex creations possible. Web3 is highlighting the potential of such primitives, through incentivization mechanisms rewarded by tradable tokens.
Packy and I discuss how primitives are enabling novel economic mechanisms through the example of several projects. We dig into Braintrust, a user-owned talent network that connects projects with appropriate contractors. While payments are issued in USD, tokens are employed wherever they can be useful.
I can stake tokens to move my application further up the list to make it more visible to employers. That has real financial value. If it gives me a 10% higher chance of getting a $75,000 contract, that is a $7,000 value that you’re getting from that kind of pot of tokens.