What is Web3? That is the question.
Think of it like transitioning into the third phase of the internet. But before we can define this phase into web3, let’s first look at web1 and web2…
Web1 was the exchange of information with read-only content in the form of static webpages.
Gone are the days of shuffling through the card catalog in your local library or searching the yellow pages, web1 made accessing information quicker and easier. Just type in the search, pull up the website, and there’s your answer!
Then we move into web2 around 2004 with this new feature of peer to peer interaction.
Using content platforms such as Facebook, YouTube, Podcasts, etc. People are now connected through the internet in a powerful way. You can build communities, businesses, sell products, and even find love. Web2 changed the way we interact as a society in a major way, connecting us all on a global level.
Now we have web3, giving power back to the users in the form of ownership.
This version of the internet is still in the infancy stage (as of the writing of this article), but the big concept here is decentralization…meaning ownership and decision making is not held by a central authority but rather distributed amongst the community using blockchain technology with cryptocurrency and NFTs to facilitate this ownership using computer code as the “trusted authority”.
This whole concept of web3 and decentralization comes with many nuances, which is one reason why we started this publication — to help break that all down for you in the simplest way possible.
Now that we’ve answered the question “What is Web3”, let’s dive into why we are WOLFISH on web3!
You’re probably familiar with the terms bullish and bearish, but if not…
These are commonly used terms to describe market sentiment. Bullish meaning the sentiment is optimistic about the anticipated price in a market to go up, and bearish being the opposite with belief the price will go down.
Bullish = up, Bearish = down. Simple as that.
But what if you could position yourself to win, regardless of where the price goes?
That’s what it means to be #wolfish, and how we choose to operate in the web3 space. Considering web3 means ownership in the form of crypto and NFTs, there’s an associated dollar value in this market. Most people are linear in their thinking in the web3 space, in other words “for me to win, that can only happen if the price of this asset goes up in value.”
We see it differently, our approach is to only invest in things we are wolfish on. The question being, are we are positioned to win regardless if the market goes up or down? This whole concept of “wolfish” derived from our core community in the web3 space, the Wolf Den. It’s an amazing project that we’ll cover in greater detail at a later date, but in the meantime you can learn more about the Wolf Den by visiting www.wolfdenlabs.com.
For projects that we see as wolfish, that means there is more to offer then just the dollar value of the asset going up. That value could represent access to a top notch community, the ability to participate in certain projects by holding the cryptocurrency or NFT, and other forms of value (or utility as defined in the space) that has no relevance to the dollar value of the token.
Even considering the dollar value of the token can be wolfish, that is if it’s a token tied to conviction you have in a project. When the dollar value goes down, that’s an opportunity to accumulate more at a lesser price tag. And if the value goes up, then you’re building wealth. Win-win!
In short, the big takeaway of being wolfish is removing this “all or none” thinking from your mindset where the only way to win is if the dollar value of a token goes up. The web3 space has so much more to offer, and our goal is to help you uncover those opportunities so you can win regardless of market sentiment — now that’s wolfish!
Let us know, what does being wolfish mean to you?! Drop your answer on this Tweet
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DISCLAIMER: These episodes are for educational purposes only. Nothing in this episode should be construed as financial advice or a recommendation to buy or sell any sort of security or investment. Consult with a professional financial advisor before making any financial decisions. Some of the links posted inside the show notes may be affiliate links, which means we receive a small commission if you click through and make a purchase. This has no impact on your experience with the product or business.
