Owning web3 isn't the point.
It's about owning our individual assets, data and identities.
It's about having control over what you create and how it gets used.
It's about using technology to create a better future, together.
This is the web3 we're fighting for.
As a movement and a paradigm, ownership en-masse is not possible. The recent debate has really been about the freedom of Web3 if we accept institutional venture capital.
None of that is necessarily the antithesis of VC, and none of that should exclude VC participation. Indeed, as the guiding forces behind decades of innovation, their input will be not only a positive asset but a necessary one.
The misconception of billionaire tweeters like @Jack is that Web3 can only exist if it is entirely free of institutional investment, but that's not necessarily true. There's room for that investment, as long as it doesn't compromise the self-evident truths of Web3, namely that everyone should have equal access to opportunities of ownership and governance.
This is still the first tech movement to have the majority of its projects funded entirely by the individual communities that give it form.
This is because the Web3 Foundation and others like it are built on a new ethos, one of ownership and self-sovereignty. We're not waiting for permission anymore. We're taking our future into our own hands. VC money may be a part of the funding chest that unlocks the technical roadmap, but it's entirely unlikely to replace community contributions, as the main source of economic security.
Web3 isn't about billionaires. It's not even just about technology. It's a political movement that will have profound social effects. A world of decentralized ownership and freedom from censorship is going to look very different from the centralized internet we have today, with the big platforms profiting on our personal data and selling it for their own gain.
What matters is that we continue to build the infrastructure and tools that will make this vision a reality. What doesn't matter are gatekeeping debates about who and what should be a part of Web3.
The idea that VC or incumbent corporate brands could ever have been kept out of Web3 is delusional and naive, but it's never been the promise. What we've been working to build is simply a level playing field, where individual users are able to take and exercise personal responsibility for their digital lives.
VC money may be a part of this, but it doesn't and will not define it. To attempt to do so would be to undermine the entire value proposition and alienate users.
Since our communities are global, we should naturally work to create a decentralized, digital asset layer that is accessible to everyone. This means creating a system for both users and investors that does not exclude anyone from participating. It means building strong standards for self-sovereign digital identity that can be owned and used by individuals without third-party consent. And it means using decentralized applications to become what they were always meant to be: tools of liberation, not censorship or exclusion.
As long as we can maintain that, the future is bright, and the future can include tech VC alongside DAO degens.
What we need now is a concerted effort to build the infrastructure of Web3 with longevity in mind rather than VC-driven exit strategies. We're seeing this in the form of projects that are already creating the tools that will make it possible for everyone to own and control their data, their income, their assets, and their identity.
In order to achieve this vision, we need the help of everyone in the Web3 community. This includes developers, users, and - yes - investors alike.
We're in the early days of the Web3 era, and there's still much work to be done. But we believe that it will ultimately result in a more equitable and democratic internet, where people can interact freely and fairly.
I believe that web3 will make it possible for everyone to own their digital assets and identities. This will create a more equitable and democratic internet, where people can interact freely and fairly. A level playing field, where VC can contribute, share, support, and build alongside founders and communities.