Jack Dorsey tweeted this a few days ago (https://twitter.com/jack/status/1473139010197508098) and it caused quite a stir. I don’t completely disagree with him but I think it’s a little different – web3 belongs to those with cash. You see, every transaction, every webpage loads, every search has to be paid for in some way. Why? It’s the cost of owning your own privacy and is the linchpin of web3. No, it generally doesn’t cost a lot but you have to pay in REAL money by way of tokens or cryptocurrency. Want a web3 domain? Sure! Get one at https://app.ens.domains/ for only $5/year. BUT you’ll need to pay the “gas” (i.e. pay for the energy expended to register your domain on the Ethereum blockchain. How much is that? Well, how much does ETH cost? Right now, it’ll cost about $100 to register that $5 domain. Quite a lot different from those deals you can get from “regular” registrars (for .com and .org, etc).
So, which is it? Pay with money or pay with your personal information?