As the world waits to see if Web3 is more than just a marketing term to pump the blockchain hype cycle, companies like Substack are already pushing the boundaries of community ownership and user empowerment models.
Since Substack isn’t launching a cryptocurrency or token, some may question how the publishing platform’s recent crowdfunding campaign relates to Web3. The answer is that Substack is approaching user ownership on democratic principles that blockchain advocates aggressively claim for Web3. Yet Substack is able to do this without involving any blockchain or crypto token, which suggests that the ‘future of Web3’ may simply be the here-and-now of fintech and the internet in 2023.
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