Essays and interviews

Crypto, with context.

Essays, interviews and analysis on digital assets, decentralized networks and the people building them.

Crypto articles

Updated as stories publish
Crypto ARTICLE

Inside Elena Burger’s Reading and Media Routine

Info Diet offers a peek into the personally curated feeds and media habits of the people shaping the future. In each installment, a different builder spends two days chronicling all the content they consume in order…

Elena Burger 10 min read
Crypto ARTICLE

Building a Membership Business With NFTs

Benefits and challenges of NFTs as a monetization channel, how creators are using them in practice, and more.

Peter Yang 7 min read
Crypto ARTICLE

The Seven Building Blocks of an Open Metaverse

There has been a lot of buzz about “the metaverse” since its coinage in the ‘90s, but especially during the pandemic (given the surge in online activity), and even more so after Facebook changed its name to Meta. Is…

10 min read
Crypto ARTICLE

A Builder’s Framework for Decentralizing Web3 Projects

The promise of decentralization has been heavily discussed and debated, from why it matters to the bigger question of who will control the software that powers the internet. These questions are critical, because as…

Sonal Chokshi 31 min read
Crypto ARTICLE

Why Custody Is Central to Bringing Web2 Users Into Crypto

Crypto faces a major barrier when it comes to mainstream adoption: The user journey is complicated and not yet built-out, and it’s not at all easy or intuitive for people new to crypto to even do the simplest…

Mahesh Vellanki 11 min read
Crypto ARTICLE

How DeSci Uses Web3 Tools to Organize Scientific Research

A growing number of scientists and entrepreneurs are leveraging blockchain tools, including smart contracts and tokens, in an attempt to improve modern science. Collectively, their work has become known as the…

10 min read
Crypto ARTICLE

Launching in Web3: Communities, Incentives, and Growth Metrics

Every company faces some version of the “cold start problem”: How do you get started from nothing? How do you acquire customers? How do you create network effects — where your product or service becomes more valuable…

Zoran Basich 26 min read
Crypto ARTICLE

Financial Privacy in DeFi and the Questions Regulation Raises

The Fourth Amendment protects our privacy rights in material that we keep private. The government can’t search our homes or computers, for instance, unless it has a warrant based on specific probable cause to believe…

Zoran Basich 14 min read
Crypto ARTICLE

Earning a Living Through DAOs and Crypto Networks

In the future, it’s likely that the average person will not work for a company. Instead, people will earn income in non-traditional ways by taking actions such as playing games, learning new skills, creating art, or…

Zoran Basich 18 min read
Crypto ARTICLE

How Token Incentives Help New Networks Get Started

The killer app of the internet is networks. The web and email are networks. Social apps like Instagram and Twitter are networks. Marketplaces like Uber and Airbnb are networks. Networks get more valuable with more…

Zoran Basich 3 min read
Crypto ARTICLE

A Reading Guide to DAOs, Their Governance, and Their Uses

What is (and isn’t) a DAO? Why do DAOs matter? How do DAOs fit into web3, crypto, the creator economy, future of work, and many other areas? Inspired by our NFT Canon earlier this year (and original Crypto Canon)…

Zoran Basich 9 min read
Crypto ARTICLE

Making Online Reputation Portable With Decentralized Identity

This is the second installment of a two-part series on reputation systems in web3. Read part one here. Web3 is based on the premise that each internet user will have a unique internet identifier, like an email…

11 min read
Crypto ARTICLE

Measuring Blockchain Access Beyond Speed and Transaction Fees

As blockchain technology rapidly gains the attention of a mass audience, the conversation is still centered solely around technical topics related to the scalability of a network — transactions per second, latency…

Zoran Basich 17 min read
Crypto ARTICLE

The Governance Choices That Shape a DAO

As DeFi and NFT communities grow enormously in size, how to govern decentralized protocols takes on added importance. Now and over the next few years, one of the most immediate challenges facing these communities is…

Zoran Basich 20 min read
Crypto ARTICLE

Why Tokens Can Be More Than Money or Collectibles

Major computing waves generally have two eras: the skeuomorphic era and the native era. In the skeuomorphic era, the design thinking is largely adapted from older domains. For example, the early web was mostly…

Zoran Basich 3 min read
Crypto ARTICLE

Rethinking the Rules That Govern Global Travel

Parag Khanna makes the case for a global travel protocol that uses digital identity and blockchain to reduce the barriers to movement.

Parag Khanna 9 min read
Crypto ARTICLE

Web3 and the Return of User-Owned Networks

Web1 (roughly 1990-2005) was about open protocols that were decentralized and community-governed. Most of the value accrued to the edges of the network — users and builders. Web2 (roughly 2005-2020) was about siloed…

Zoran Basich 3 min read
Crypto ARTICLE

Designing Reputation Systems That Reward Useful Contributions

Reputation systems present an opportunity for platforms to recognize—and thus incentivize—participants’ high-quality contributions, including content creation, moderation, community building, and gameplay. This is…

15 min read
Crypto ARTICLE

The Role Stablecoins Could Play in Financial Access

The promise of providing financial services to underserved communities around the globe is a key motivation for our work, and we’ve been concerned by a counterintuitive trend that’s taken root in Western economies…

Zoran Basich 10 min read
Crypto ARTICLE

Lowering the Barriers to Participation in Crypto Games

When people talk about the recent past and envision the distant future of crypto, conversation always comes back to the cycle of wealth creation and redistribution. Consciously or unconsciously, there’s an…

Zoran Basich 11 min read
Crypto ARTICLE

The Different Roles Tokens Play in Digital Economies

One of the big, frequently discussed ideas of crypto is that it enables creators and communities to build their own internet-native economies. A key component of these economies is tokens, which got a bad rap during…

Zoran Basich 17 min read
Crypto ARTICLE

How Creator Tokens Could Pave the Way for Community Tokens

Over the past year, social tokens — those issued by creators and communities to access exclusive perks and invest in works — have taken off in the world of crypto and beyond. Celebrity artists and athletes like…

8 min read
Crypto ARTICLE

Building Entertainment Around Characters a Community Owns

Every day we consume popular entertainment centered on characters. A collection of successful characters can become the foundation for a franchise — e.g. Star Wars, Marvel, Harry Potter — that can span decades, and…

Zoran Basich 16 min read
Crypto ARTICLE

How Composable Software Creates Room for New Ideas

While many in tech and beyond have heard of bitcoin, cryptocurrency, and the concept of a blockchain, less well-known are smart contracts, the major innovation of Ethereum. They’re programs that anyone can write and…

Zoran Basich 10 min read
Crypto ARTICLE

Understanding the Building Blocks of Decentralized Finance

There’s been a lot of hype, buzz, skepticism, confusion, and excitement around decentralized finance aka “DeFi,” the ecosystem of blockchain-enabled products and services that replace traditional financial…

Zoran Basich 14 min read
Crypto ARTICLE

A Curated Guide to Understanding and Building With NFTs

The NFT Canon is a go-to resource for artists and creators, developers, corporations and institutions, communities and other organizations seeking to understand or do more with non-fungible tokens. It’s a curated…

Sonal Chokshi 12 min read
Crypto ARTICLE

How NFTs Could Help Creators Build Around Their Closest Fans

In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To be a successful creator you don’t need millions. You don’t need millions of…

Chris Dixon 5 min read
Crypto ARTICLE

The Choice Between Open Protocols and Privately Owned Platforms

As the internet has evolved over its 35-year lifespan, control over its most important services has gradually shifted from open source protocols maintained by non-profit communities to proprietary services operated…

Chris Dixon 5 min read
Crypto ARTICLE

Lessons for Crypto Builders From the 2020 Startup School

Crypto has gone through an eventful year. Decentralized exchanges and platforms that allow users to trade, loan, or borrow cryptocurrency have soared in volume. Developers are taking advantage of the flexible…

Presence Editorial 22 min read
Crypto ARTICLE

How Crypto Changes Who Captures a Network’s Value

Many entrepreneurs and investors think that crypto projects can’t capture value because they are based on open source code. The thinking goes that if you develop open source code, someone will come along and copy it…

Jesse Walden 5 min read