Mysten Labs: Web3 is not only about money, but also about equality and transparency

According to reports, Evan Cheng, co-founder of Mysten Labs, said that investors may view Web3 from the perspective of financial opportunities and income, but this ignores one key point, namely, to try to build a more fair and transparent infrastructure, so that content creators are at the forefront. In Web2.0, content creators upload their works to the central server, while Web3 is different. It allows users to interact point-to-point and adds a new layer of ownership for activities on the Internet.

Interpretation of this information:

Web3: Building a More Fair and Transparent Infrastructure for Content Creators

Evan Cheng, the co-founder of Mysten Labs, has emphasized that the prevailing view of Web3 as a source of financial opportunities and income misses a crucial point. The true potential of Web3 lies in its ability to create a more fair and transparent infrastructure for content creators, empowering them to take control of their creations and earn their rightful due from them.

To understand why Web3 is so significant, we must first examine how Web2.0 works. In the current web ecosystem, content creators upload their works to a central server, which then distributes the content to users. This centralized approach has several problems. Firstly, it gives disproportionate power to the server controllers, who can dictate the terms and conditions of content sharing and monetization. Secondly, it does not adequately reward content creators for their labor, often leaving them at the mercy of ever-changing algorithms and ad revenue models.

Web3, on the other hand, takes a radically different approach. It enables users to interact point-to-point, effectively creating a decentralized network that is not beholden to any one central authority. This decentralization, in turn, enables a new layer of ownership for activities on the internet, ensuring that content creators are no longer mere suppliers of content but active participants in a fair and transparent ecosystem.

Cheng’s remarks are particularly significant in light of the recent explosion of interest in non-fungible tokens (NFTs). NFTs represent a new way of engaging with digital assets, enabling creators to establish ownership and value for their work in a decentralized fashion. However, as Cheng notes, NFTs are just the tip of the iceberg when it comes to Web3’s transformative potential. By laying the groundwork for a more just and equitable online ecosystem, Web3 can help unleash a new era of creativity and innovation, empowering content creators to unleash their full potential.