If we were to sum up where Web3 is at right now, it'd go something like this:

The basic infrastructure of Web3 is there, but no one really knows how to best utilize it.

It's the same thing we saw with the early internet ( that image was a real ad, pitching the use cases of the internet, back in the 90's).

And we're now seeing similar misguided entries into the third generation of the web.

Like this crypto-themed apartment, in North Hollywood, which promises to send a clear message to anyone that visits your home:

'I have no taste. Like, none. Whatsoever. Also, Kanye is just misunderstood.'

But misfires like this are ok! They're part of the process.

So what approaches are actually going to work?

Our crystal ball is currently in for repair, but if we had to guess - it's most likely going to center around creating mini-economies within communities.

What the hell does that mean?

Remember that Nike campaign from the late 90's?

The one where customers with 1000+ points on their Nike loyalty cards were entered into a draw, to play one-on-one with Michael Jordan?

Two of the winners ended up selling their loyalty cards (and the right to meet/vs. MJ) for $500K each.

Now, if you haven't heard that story before - it's because we just made it up.

BUT! Here's why we strung you along:

Replace '1000+ points' with '1000+ miles,' 'Nike loyalty cards' with 'Nike Run Club NFTs,' and 'play one-on-one with Michael Jordan' with 'train alongside Usain Bolt,' and you have this:

...customers with 1000+ miles on their Nike Run Club NFTs were entered into a draw, to train alongside Usain Bolt.

Any of those winning NFTs sold on the secondary market would make the owner some sweet, sweet cash, while sending a cut of each sale back to Nike.

Creating a mini-economy within Nike's running community.

The idea isn't exactly revolutionary, but the standardized infrastructure that allows users to sell their digital goods, while the creator can collect royalties in perpetuity?

That is.

...maybe we should update our opening statement, to this:

The basic infrastructure of Web3 is there, but no one really knows how to best utilize it.

(Yet).