<\/p>\n
The founder of Gitcoin and author of the book, \u201cStuff Crypto OGs Know\u201d <\/em>says, when he first got into Web3, it was \u201cred steak, bitcoin maxi, libertarian maxi.\u201d<\/p>\n \u201cNow, it\u2019s just fun that there\u2019s people that are into pro-social Web3 stuff,\u201d Kevin Owocki says. \u201cI can be with my more hippie friends and play some hacky sack and throw an ultimate frisbee at a crypto conference.\u201d<\/p>\n The space has indeed diversified quite a bit over recent years, but one thing that hasn\u2019t changed all that much is its apparent obsession with money. All blockchain applications seem to focus on financialized elements in some way. Will this ever change?<\/p>\n Speaking on the On the Other Side podcast (Spotify<\/a>\/Apple<\/a>), Owocki cites an article<\/a> entitled 8 Forms of Capital co-written by Gregory Landua and Ethan Roland. His mental model, Owocki observes, \u201cis that there\u2019s not just financial capital.\u201d\u00a0<\/p>\n Capital, the article argues, exists in different aspects of experience including cultural, living, spiritual, social and intellectual, among others. \u201cWhat Web3 allows us to do is to build bridges between financial capital and social capital, financial capital and spiritual capital or material capital,\u201d Owocki says.\u00a0<\/p>\n He mentions the recently launched friend.tech Web3 social app to illustrate the concept. \u201cWhen you join the app, it mints a bond. It creates a smart contract that is a bonding curve on the Base [layer-2]<\/a> and basically, people can buy shares of you in order to get into your [direct messages].\u201d\u00a0<\/p>\n \u201cIt\u2019s basically financializing access to you. That\u2019s a bridge between financial capital and social capital.\u201d<\/p>\n Read more:<\/strong> Making friends online is easier with blockchain<\/a>\u00a0<\/p>\n Grants.gitcoin<\/a> is providing grants to fund projects fighting climate change, he adds \u2014\u00a0 a bridge between finance and living capital.\u00a0<\/p>\n \u201cThere\u2019s also an education round,\u201d he says, \u201cand there\u2019s going to be a Spirit DAO<\/a> \u2014 and there\u2019s the Green Pill Network,\u201d \u2014 a network that focuses on \u201cturning degens into regens,\u201d according to the website<\/a>. \u201cIn my mind, those are \u2018spiritual capital\u2019 that you\u2019re funding with Web3,\u201d he says.<\/p>\n Owocki defines the notion of \u201cregeneration,\u201d explaining that it\u2019s not only about increasing resource capacity in a financial vector, \u201cbut also social capital and environmental capital and spiritual capital,\u201d he says. \u201cLet\u2019s regenerate ourselves along with regenerating our planet and our communities.\u201d<\/p>\n Delving further into the meaning of regeneration, Owocki explains, \u201cresource capacity goes up over time as opposed to degeneration,\u201d he says, \u201cwhich is a system that goes down over time.\u201d<\/p>\n While the examples Owocki mentions are all \u201cfinancialized applications,\u201d he says what\u2019s interesting about them is that they are equally accessible to users, regardless of their personal wealth.\u00a0<\/p>\n \u201cThey\u2019re accessible to everyday humans that don\u2019t have giant bags, not just to the whales,\u201d he says. Owocki explains that he wants to build a financial system where users can provide fair value and in turn receive fair financial value in the form of tokens.<\/p>\n \u201cThere\u2019s a giant difference between things that are just speculative, like degen casino games,\u201d he says, \u201cand things where we\u2019re actually genuinely exchanging social capital or intellectual capital, and I\u2019m giving you financial capital for that.\u201d<\/p>\n Owocki expects the crypto space to remain primarily financial in nature. But to onboard \u201cthe rest of humanity<\/a>\u201d into Web3, he says it will become less speculative over time, developing \u201cregenerative bridges\u201d to different types of capital.<\/p>\n \u201cAt least, that\u2019s the \u2018regen\u2019 Web3 ecosystem that I want to build.\u201d<\/p>\n Get the day\u2019s top crypto news and insights delivered to your email every evening.\u00a0Subscribe to Blockworks\u2019 free newsletter<\/a>\u00a0now.<\/strong><\/p>\n Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can\u2019t-miss tweets and more from\u00a0Blockworks Research\u2019s Daily Debrief<\/a>.<\/strong><\/p>\n Can\u2019t wait? Get our news the fastest way possible.\u00a0Join us on Telegram<\/a>\u00a0and follow us on\u00a0Google News<\/a>.<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" The founder of Gitcoin and author of the book, \u201cStuff Crypto OGs Know\u201d says, when he first got into Web3, it was \u201cred steak, bitcoin maxi, libertarian maxi.\u201d \u201cNow, it\u2019s just fun that there\u2019s people that are into pro-social Web3 stuff,\u201d Kevin Owocki says. \u201cI can be with my more hippie friends and play some […]<\/p>\n","protected":false},"author":2,"featured_media":138808,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-138807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138807"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138807\/revisions"}],"predecessor-version":[{"id":147956,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138807\/revisions\/147956"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138808"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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