Network Effects, Moats, & the Business of web3
web3 with a16z crypto
The Impact of Web Three on Competition and Digital Platforms
I think it's changing the character of competition. We've seen over the last year, extremely intense competition among NFT trading platforms on fees and on features. That type of competition, we see like web three is rife with, but the question is where do that go? What it really turns into is the platforms having to work to retain consumers by creating an environment in which the customer wants to stay on the platform rather than switch over to a competitor. And so what I think of as particularly virtuous competition is development of features, development of rewards and loyalty programs.
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