Why launch SDAO?
It is against this background that SDAO was launched
- Web 1 (roughly 1990-2005) was about open protocols that were decentralized and community-governed. Most of the value accrued to the edges of the network — users and builders.
- Web 2 (roughly 2005-2020) was about siloed, centralized services run by corporations. Most of the value accrued to a handful of companies like Google, Apple, Amazon, and Facebook.
- We are now at the beginning of the Web 3 era, which combines the decentralized, community-governed ethos of Web 1 with the advanced, modern functionality of Web 2.
- In Web 3, ownership and control is decentralized. Users and builders can own pieces of internet services by owning tokens, both non-fungible (NFTs) and fungible Tokens give users property rights: the ability to own a piece of the internet, NFTs give users the ability to own objects, which can be art, photos, code, music, text, game objects, credentials, governance rights, access passes, and whatever else people dream up next.
- There are many ways for users to acquire fungible and non-fungible tokens. You can buy them, but there are also ways to earn them.
- You can also earn tokens through creative and entrepreneurial activities. For example, people are earning roughly $100M worth of ETH per day selling NFTs.
- This fixes the core problem of centralized networks, where the value is accumulated by one company, and the company ends up fighting its own users and partners.
- Before Web 3, users and builders had to choose between the limited functionality of Web 1 or the corporate, centralized model of Web 2.