The Challenges of Web Three

Two years ago, it was predicted that every creator would have a social token, which would enable fans to bet on that creator and invest in their success. That clearly hasn’t panned out, and in their place, NFTs have become much more popular as a mechanism for creator monetization. We discuss why that is (psychological ownership!) with Matt Alston, the co-founder and CEO of Bonfire, a no-code website builder for web3 creators, brands, and communities. Bonfire enables creators to build web3-enabled spaces to host their community for drops, exclusive content, and token-gated events and experiences. Before Bonfire, Matt was a product manager at Uber focused on Rider Loyalty & Rewards, where he helped launch Uber’s loyalty program Uber Rewards, which has since been merged with their subscription offering to create Uber One. We discuss the lessons learned from Uber’s rewards program as it pertains to airdrops and using tokens as an incentive in web3.