The Biggest Opportunity For Web3 That No One Has Ever Talked About

Today I’m going to talk about the biggest Web3 opportunity that I don’t think anyone talks about, and yes, I’ve been in this space (blockchain) for a long time and have been in the “game” since 2013. And I actually got my first degree in digital currency in 2016, and this week my project was called The DAO, which raised as much as 14% of the existing Ethereum, but got stolen. Not only did I learn from my academic career, but life also taught me a lesson.

I’ve seen many, many opportunities for Web3, but I have to tell you that the one I’m going to talk about today is far from being overlooked, and the opportunity is huge, $10.5 trillion in the US alone Spend, that’s trillions of dollars! Five times the total market capitalization of cryptocurrencies, and it’s still growing, growing in volume, rising in spending, an opportunity so great that no one has ever mentioned it. No one even realizes it exists, and there is basically no competition here, and no one is making money in this space. This is a $10.5 trillion market! But organizations involved in this space are losing money.

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Does anyone know what field I’m talking about? public goods! That’s right it’s him! Public goods are the biggest opportunity in web3. Everyone thinks there’s no money in public goods, but the federal government, state governments, local governments and our nonprofits spend $10.5 trillion a year on it.

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The opportunity is huge, but the competition is weak, like in the nonprofit space, they’re literally begging for money, then asking for a discount, and they don’t even pay volunteers, and Web3 has a chance to change that.There is a 500 billion market here! I don’t think we’re going to get government support too soon, Colorado does have a vision, and it’s still going to take some time. But nonprofits are an opportunity that can easily become a breakthrough for the entire industry, become the “spoiler” of the entire industry, and nearly $500 billion is donated every year in the United States to try to solve the problem in the least efficient way.

I talked a lot in my talk on this stage yesterday, and if you haven’t seen it, I’ll focus on those topics, and I think it provides a really good context for what I’m trying to say. That is: creating Schelling points for public goods through microeconomics There’s a lot to dig into here, but I think it’s a really good start, or baseline. Basically I talked about scarcity economics is the economics we take for granted, we put our money in the right areas because it’s really simple, scarcity economics works really well for anything that can be priced because you can put people Exclude from engagement, when you exclude people from the value you are creating, you create customers. So the scarcity economy has this very good value stream, and anyone who creates value will be rewarded for the value they create, because as long as there is an end user who thinks there is value here, he is willing to pay for it. But from the perspective of Abundance Economics (economic logic as opposed to scarcity) this is a tragedy. The economy of abundance is where we provide value to society, like when there are fish in the bay and we want to keep the fish abundant, we build systems to protect the fish in the bay. This is the economy of abundance, and this is how we maintain abundance for society.

In this area (public goods), half of the value of the whole society is in the economy of abundance, which is managed by non-profit organizations as well as by the government. The government’s incentive system is very weak, but it works.That’s right, they’ll say: give me the money or I’ll steal your house. It’s a great way to get money in the industry and it works well, but the feedback cycle is long, long. If you want to innovate or change something, you have to vote once a year or something like that. If you have a lot of money, maybe you can lobby. But this is still a very weak and inefficient system for feedback and innovation. We have no innovation and no profit in the public goods space right now, and what’s worse, they’re basically just begging. If we do nothing, we need to sacrifice all the time.

The current world seems to be on fire with too many problems. We have so many opportunities in personal luxury, you can go and buy a yacht, you can buy a cell phone. It’s really great that we can coordinate the manufacture of cell phones, computers and all these complex products that cater to individual needs, because profit is the Schelling point that brings everyone together. But in the realm of public goods we are operating in, we are swimming against the current and everything including profit, efficiency, etc. has been sacrificed. We have the opportunity to change all this in Web3, we can build a third way besides government, non-profit. I call it the third way – Regen Economic.

A regenerative economy is a task-driven economic system that rewards those who meet collective needs and produce and distribute these public goods. And we’re already doing it, it’s incredible, Gitcoin! And of course, kudos to Kevin and all the folks at Gitcoin! You guys are doing a great job!

I think Gitcoin is the largest task-driven regenerative economy in this space. They want to build and fund digital public goods, and if you want to support digital public goods, they do a good job, you can donate on Open Collective or Gitcoin, Giveth, or you can directly buy GTC which sounds more appealing. You might give a hundred dollars in donations, but you might buy thousands of dollars in GTC because GTC is going up.

TEC is the leading token engineering project with a market cap of $6 million. Basically, they are at the forefront of research in the biggest nascent field of our time. You can do good deeds by donating directly to them, in other words “burning” your money. But you can also buy TEC, after all, he is also rising.

Panvala is even more incredible that they had a two-day conference here. They add so much value to the Web3 community, bringing everyone together. With a market cap of $3.4 million, they create a lot more than that.

We’re sitting in the SporkDao church right now with a $2.3 million market cap? Are you kidding me! How much money will be generated from the value created today alone! A free conference platform where anyone can join and step into the crypto world. It is because of their achievements that so many startups will launch today.

BrightID is creating a one-person-one-vote opportunity for Ubisoft to “evolve.” Only 2.1 million market value? No, no, no?

Giveth rewards those who contribute, and obviously I’ll be spending most of my time on this. Our market cap is $4.6 million. I mean we have the opportunity to bring the Metaverse into “physical space”. Giveth’s goal is to spin out thousands of micro-economies, and we’ll make that happen. We get a lot of wisdom from a great man like Eleanor Ostrom. I quote this quote in almost every talk: “We have no reason to believe that bureaucrats, politicians, or experts can solve problems better than the parties because they have the greatest incentive to find the right solution.” I even want to cry when I say this because it’s so real, the wisdom of problem solving is right here, right here in nonprofits. People have been busy for decades trying to solve these problems, but they have no feedback mechanism, they have no idea what to do, they are almost begging, and whoever has the money has the final say. For example, the payer would say: Give the homeless people blankets, just a few blankets. But in fact what they need is not a blanket at all, they need help, a purpose, something much more than a blanket. They become homeless because they don’t want to live at home, we should help them in other ways, we should innovate!

The wisdom is in this quote I quote, and Giveth wants to release that wisdom. We’ll start by building the world’s best giving platform, which is the way to bring this wisdom to the web3 space, and we’ve done it. I know, Gitcoin is doing great in Colorado, but they only do 4 rounds of donations a year, and the donations are basically digital public goods. And we want to focus on real, down-to-earth nonprofits, I mean nonprofits in the “physical world.” What we do is also incredible!That’s why I say our donation platform is the best in the world: 100% of donations go to nonprofits, and we’ll pay you to donate! I mean, what more do you want? Whenever you donate to a non-profit organization certified on Giveth, we will give you GIVbacks in the form of Giveth tokens. That said, now if you donate $1000 to Giveth’s donation pool, we’ll give you back $80 worth of Giveth tokens, and it will keep going up. This one is a subsidy for your donations, but if you think about it another way, if the value of Giveth keeps going up, you can even make money by donating! This has never happened in human history. That’s what GIVbacks give us. GIVbacks are our way of decentralizing and giving back to our community, and we want to be a donor-run donation community. Whoever pays who has the final say is unreasonable for non-profit organizations, but reasonable for the donation community.

GIVbacks This is just our first step, a start compared to our complex roadmap. And the next step is GIVpower. GIVpower is the donor who distributes power to our platform. We have a certification process right now, and I think that’s really cool, and the coolest thing about GIVbacks is that you don’t need to be a 501c3 (the tax code, the first is that volunteer organizations are tax-deductible, and the second is that donations from donors are tax deductible ) organization can also give donors GIVbacks, and your donors do not have to pay tax to receive this subsidy. At Giveth, we don’t care what your legal entity is or whether you have a legal personality. At Giveth you can receive donations, and your donors can also receive subsidies, just like tax credits.

What we want is a win-win situation, people in non-profit organizations are begging for money right now, and to change that, we created GIVpower, we give the power to the holders of Giveth tokens, and they can use the non-profit Organizational staking, such as Mutual Aid Mondays. Mutual Aid Mondays hit the streets every Monday in a variety of ways, mostly in the way the homeless wanted to help the homeless. So with GIVpower, if you want to help those homeless people in Denver, you can donate directly and get Giveth tokens and stake those tokens under Mutual Aid Mondays.

We want to create a virtuous cycle where when projects are successful on the platform, we will lead them to the next stage. Our goal is to spin out more DAOs, not more nonprofits. As an example, let’s say Mutual Aid Mondays has a lot of pledged Giveth tokens under his name, then we’ll take him to the next step. We would say “Hi, do we want to build a reputation system if we can gamify people’s contributions to Mutual Aid Mondays?” Can start to become a DAO or even start gamifying their contributions. So it’s also a very easy way to get people into crypto, Web3, the risk is low, and people don’t lose money because there’s no money here. He is a non-transferable honorary token.

And when all these are done, they can start to manage donations through DAO. Compared with all donations given to the core personnel of a specific organization by Giveth, these donations will now go to a DAO, which will be distributed by tokens The holders manage the operation together.

And when all of the above is achieved, the more exciting comes, we call it Gurves. Gurves is the beginning of a non-profit, but also the end of our Giveth roadmap. There are a lot of cool things in Giveth’s roadmap that I didn’t mention this time, but Gurves is our real goal, at least for me.

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Gurves is all about trying to create a system that enables people to own their own economy. Once a DAO has its own reputation system, like Mutual Aid Mondays, they’ve actually started distributing tokens, and they know how to get to the DAO. At this point we can start putting money into it, because = they already know how to manage donations through the reputation system, we can let them create their own economic system, which requires Gurves and GIVpower. So, if the Mutual Aid Mondays project has already pledged 200,000 through GIVpower. I won’t explain the bonding curve here, but Gurves is actually a bonding curve collateral with Giveth tokens. I will explain the retention ratio. Here we choose a retention ratio of 20% D amount, mainly because TEC chose 20% for their DAO, and I also trust the advice of token engineers. So if Mutual Aid Mondays opted for a 20% retention ratio, their market cap would be 1 million, because the retention ratio is essentially collateral divided by market cap. That is, we could use $200,000 of Giveth tokens as collateral to create a $1 million market cap of Mutual Aid Mondays tokens.

It may sound strange, but it is very harsh. First of all, both tokens need to be locked and cannot be sold immediately; secondly, the money must be allocated in DAO, part of which will go to the DAO treasury for them to manage, and part of it will be distributed as an airdrop to reputable people who have really contributed to the community members, and some are issued to the original pledgers.

Labor contribution, professional skill contribution and capital contribution, it is particularly important to clarify the different types of contributions in DAOs and economic systems. We will also do this through Gurves, when people donate and receive Giveth tokens, a small percentage of those tokens will go to Gurves to create Mutual Aid Mondays tokens back to the donors. This also makes donors become shareholders, volunteers become shareholders, and all those who contribute to the community will have a voice to decide the direction of the community.

Like my friend Olivia said, a lot of homeless people actually want to live on the streets, and they don’t like the solutions we offer them. And they know they should innovate, what if we gave these homeless people in Denver some purpose in life?For example, give them a public safety DAO in Mutual Aid Mondays, train these people to be public safety officers (security guards) and so on. Homeless people are on the streets all the time, and they can do a little bit of what the police can do, and that might help them. If Mutual Aid Mondays did all of the above, would homeless homeless be a problem?This time the homeless will be happy, they will feel good, they have dignity, they have purpose, and they are protecting the streets of Denver. If this is successful it can be rolled out to many places, Seattle and so on. Mutual Aid Mondays can grow and members make money, and it’s all a win-win situation!

This opportunity is very big. In the United States alone, there are 10.5 trillion, 10.5 trillion! That’s 5 times the market cap of the crypto market! I hope you will join us! We are also hiring, thank you! Hope everyone can help us and make the whole world a better place.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-biggest-opportunity-for-web3-that-no-one-has-ever-talked-about/
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