Re:My First Impressions of Web3
by cwalv on Saturday January 08, 2022 @12:22AM
(#29848878)
> but a competitor to Twitter cannot access the entire set of user data that Twitter has access to.
True, but they could make it very easy for users to transfer all their data, which makes it possible if they could convince everyone to do it mass. So the real problem is that it's not realistic to convince everyone to move; the network effect is too strong.
AFAICT, OpenSea et al have the same first mover/network advantage. The record on the chain of a url "belonging" to someone has approximately zero utility without the edifice they've built on top
True, but they could make it very easy for users to transfer all their data, which makes it possible if they could convince everyone to do it mass. So the real problem is that it's not realistic to convince everyone to move; the network effect is too strong.
AFAICT, OpenSea et al have the same first mover/network advantage. The record on the chain of a url "belonging" to someone has approximately zero utility without the edifice they've built on top