For the moment, web3 is piggybacking off the business models of web2. This is a decent process for the time being until we get innovation and experimentation going.
In this video I discuss transaction fees, subscriptions, and advertising as models from web2 that are being adopted in web3. This is just the tip of the iceberg and we have much greater potential with all that we can do. When we consider different models relating to tokenization, NFTs, and other ideas, we can start to see where the models can be greatly expanded.
▶️ 3Speak
Most of the NFTs are/were overpriced, and we saw a good and famous example for this in the recent past. Imagine buying a Bored Ape NFT for $1.3 million USD in 2022, only to see that it is worth only $60 000 USD in 2023. This is what Justin Beaber did. We saw/see something similar with the Splinterlands cards. Some people are still trying to sell certain cards for a ridiculously high price.