Inspiration for Moment of Insiders and "Insights" jumps into Web3's "Lavbit Hole"

A few weeks ago I asked people to show me the way to web3. The main question I want to answer is what attracts a lot of people to web3.

To better understand this issue, we want to take a closer look at why people have accessed web3 so far, what they like the most, and what they think is the biggest ranking issue in this area.

What did you learn from over 50 responses? Read on and discuss any issues that I might not have.

Why do people like / web3 encryption in the first place?

The first three things that started getting people to crypto / web3 were:

1. Newsletters, Newsletters or Podcasts: While entering a mirror writing contest, reading a complaint, or listening to a Bankless podcast, many respondents wrote about the impact of the theme's kind words. . With that in mind, I want to share some of my favorite phrases with us.

Web3 101: Basic principles of Web3 and differences from Web2

Tackling shortage: discussing how to define economic benefits in the digital world after shortage

Beginner's Guide to Social Tokens, DAOs, and NFTs

2. Conversation with friends: more friends = less burden

The / web3 encryption can be confusing and confusing (we'll talk about that later). The voices of people you trust (like friends) are usually the easiest way for people to get into this place (that's where I come into this place!).

3. Buy Bitcoin: Immerse Yourself in the Game

If you hear someone talking about cryptocurrency, you might hear something like “When I first bought Bitcoin in 2017, it was ...” or “If I lived in 2016, will be more DOGE ... ”will be. While there are many enticing things that led to the popularity of Web3, such as the removal of the blockchain and the potential for community governance, the search for income (well) is local (see photo by Laura Du below). below).

It can be tempting to think of a community driven by the greater good, but more the truth should not be ignored. Financial support is the main driving force behind web3. However, while advocating for business is often the reason that draws people to this place, promoting relationships such as community, friendship, and impact can be the reason to keep them. As David Phelps points out, the best part of financial support is "being able to overcome the costs of other jobs, but not enough to get people involved in the economy."

What is the “big” time that people add to the 3 bot site? (For example, what motivates you to participate other than buying BTC or ETH?)

Here are the 6 most used web3 applications / elements:

Monetization of creators

"Royal.io/Impact on the music industry"

"Create a global community of artists around social tokens"

"Knowing that the financial process for developers is risky and that NFTs can solve this problem."

The Web 3 as a "frontier"

"It's just that I don't know enough. Everyone is still doing research, and it motivates me to learn more."

"If it is an improvement on the Internet, I would like to register"

Openness and integration of the blockchain

From a developer's perspective: "The most important thing is doing a CryptoZombies robustness tutorial and knowing that all of your contracts and documents are open, searchable, and tradable."

“As someone who has always worked for cloud hosting providers, I was amazed when I realized that people could build and submit applications on Ethereum without the need for web2 infrastructure.”

NFT and members

"Buy NFTs and engage in conflicts that cross the threshold ... the potential for new relationships"

“When I first became interested in RFTKT and realized that NFT was more than just an art, NFT was the foundation for an interactive and usable meta-advantage in the real world. It was wide open, ”he said.

“Understanding NFTs is one way to bridge the gap between networks. "

community

“I am alone as an entrepreneur. I can explore communities, fundraise in any way, and benefit from emojis and cryptocurrencies! "

Income

“In 2017, I received an ETH and a private key, a secret gift from Santa Claus, which cost $ 10 at the time. In 2021 I put it in my wallet with the key. One and it's $ 306. ETH.

"When I got $ 2000 from Ethereum a few weeks, lolz"

What type of encryption / web3 is the most popular?

(People can choose up to 3 options or write their own)

The “most popular” categories are:

DAO (chosen by 72% of respondents)

TVN (62%)

Challenge (55%)

Social / Identity

Game

lives social

Finally, one of the most important questions ...

What do people think is the biggest challenge for encryption / web3?

The two biggest challenges are 1) how to "get on the bus" and 2) the rules.

How to "get in the car"

It's no secret that the crypto world is crisp, confusing, and dangerous. There are three things that make accessing Web 3 more fun about the “get in the car” process.

1. Easy access

Consumer insight: Intermediary exchanges like Coinbase and Gemini, and Defi apps like Blockfi and Donut provide an interactive user experience that solves many problems for average consumers. However, there are many encryption / Web3 apps that are difficult for the average consumer to use. I still remember the confusion when I first used MetaMask. I don't know how to send money from my average foreign exchange account to my metamask. I don't know what that means for a 'get' or 'reject' business, and I don't know why the price is so high (value for money!).

Cost of gas: many web3 games are expensive. Buying cryptocurrency or buying NFTs is not easy for a lot of people. Even if people can afford it, the price has a huge impact.

2. Learning and description around the site3

For 'regularly' satisfied consumers, our main questions are: 1) what to do, 2) why do I need to be careful, what to do if I do, and 3) how can I participate (safely)?

Content can be a great way to teach people and solve these issues. Activities and past experience (such as IRI and Virtual) can be important ways to steer these issues. Whatever the "learning", they should be good, easy to find, digestible and effective.

A gift for the education worker: crypto, culture, & amp; Society, Buildspace, Rabbithole, Coinvise, The Odyssey of Peter Yang, Chase Chapmans on the other side, Two cents of Kinjal

However, the content process is at least as limited for those who love to learn. It is important that many people care about / web3 encryption. Part of the answer is a description of the / web3 encryption (created and discussed by journalists, celebrities / politicians, politicians, etc.).

The story around crypto / web3 has a lot to do with skeptics who fear cryptocurrencies are Ponzi schemes for those who claim that cryptocurrencies are the future of the internet. Unfortunately, as we see in American politics today, the discussion of these protests is not an open dialogue, but rather a shouting contest.

But against the stereotypes of skeptics among web enthusiasts3 who want others to join the site is a bad thing. Because the skeptics were simply disgusted with the answer. The best way for unbelievers to address concerns and raise issues of importance to the region is to be friendly, not aggressive (Reboot is a good example, see David).

3. Diverse and inclusive

Since the industry is still in its infancy, there will be a real opportunity to develop diversity and include the ecosystem (as you can imagine). Additionally, as many events are online events, there are international opportunities for collaboration. The ability to remain anonymous means people can learn more about their behavior instead of judging them by their appearance / age / gender etc. Of course, anonymity also gives opportunities to criminals.

Despite the diversity of discussions and integrations in this area, the sharing of ideas on these topics is still limited. However, focusing on diversity and early inclusion is especially important, as the effectiveness of doing (or not doing) makes this increase longer. In other words, the more diversity you expect, the harder it is because people like similar people.

Thanks to individuals and organizations who care about diversity and participating in this site eg she256, Komorebi, Surge, web3baddies, #cryptoladies.

the leader

This topic can be a full-fledged article, so I'll keep it up to date (if you want a longer article on this topic, let me know!)

Governments have different views on cryptocurrencies. El Salvador has approved Bitcoin (BTC) as a fiat currency, China has banned cryptocurrencies and mining, India has lifted its cryptocurrency ban in 2020, and many countries have yet to decide. .

When you consider the level of involvement, there are several levels of difficulty: different governments, political and business models, Web3 industries, and levels of consumer adoption. So far, most governments have focused on regulating currency trading and taxation, but there are still issues with "new" areas such as NFTs and DAOs, including prevention of currency trading. fraud and security concerns.

The United States does not yet have a clear constitution. "The Securities and Exchange Commission (SEC) generally treats cryptocurrencies like securities, while the Securities and Exchange Commission (CFTC) calls Bitcoin (BTCUSD) a commodity, and the Department of Finance calls it its currency" ( Investopedia). Federal Reserve Chairman Jerome Powell has said the United States has no plans to ban cryptocurrencies, but many states have passed legislation on cryptocurrency and blockchain technology.

There are also other challenges that do not fit into the two categories of 'getting in the car' and monitoring, including the balance of distribution and the average, environmental impact of mining. and blockchain, and the visibility of the security portfolio. No training, and how to monitor mental illness in any weather environment.

Finally, some philosophical questions remain unanswered. For example, how governments govern organizations without end-to-end “responsibilities” of individuals or groups, how governments govern affairs without borders and how they govern (even man-made ones) are always made by promises. smart. ?

Brief description:

The top three things that draw people to crypto / web3 are the 3Cs: content, chatting with friends, and cryptocurrency (usually BTC).

More interested in 6 aspects of web3: monetization of creators, owner space, openness and composability of blockchain, NFT and membership, community and financial services.

The top three teams are DAO, NFT, and DeFi.

The two biggest challenges in this area are “transport” (improving accessibility, creating education and promoting diversity and inclusion) and management.

We are still in the early stages of this area. It means a lot of unanswered questions and problems, and a lot of time. I hope we can continue to make this place more accessible and reflect the importance we want to take in a rapidly changing and generally speculative environment.

Thanks to everyone who answered questions who shared their thoughts and to everyone who helped present the research for the first time. If you are developing in this space, contact us! Work hard to make / web3 encryption accessible to everyone. #wagmi

Special thanks to Kinjal Shah, Jerry Feng, Laura Du and David Phelps for their valuable information.

* This survey was published and posted on Twitter. My friend and I have responded to fundraising, Communication Chat, and both groups I have participated in with a passion for Pixelbeasts and Chaforest. It is therefore unfair for technical staff and / or web3 and seems to have 1 to 3 degrees to contact me.