The only way to think of the ideal metaverse is through the building blocks laid by decentralized autonomous organizations, or DAOs.

The world is only just waking up to the transformative power of DAOs, which have made headlines for attempts to buy a copy of the US Constitution, crowdfund legal fees for Julian Assange, and lower the barriers to entry for real estate investing. In the decentralized finance movement, DAOs are now the norm rather than the exception, and now that they’re beginning to penetrate the mainstream.

The network effects of such a model would be unparalleled because the incentives are aligned.

Users will want their friends and family to join so they can also participate in the rewards and make the network a better place to hang out.

Thanks to the underlying blockchain infrastructure, people own the assets and benefits they accrue on any given platform.

In the Web2 model, we don't own anything so we end up tied into platforms and services simply so we can benefit from the work we've put into them over the years.

Closing a social media account means losing followers, closing a streaming service means losing playlists and access to streaming material, closing an online marketplace listing wipes out an online directory.

• Big tech has a choice: embrace the open, decentralized nature of the future in the metaverse or continue operating closed ecosystems that are only designed to extract value at the expense of their most valuable assets.
• Web3 empowers people to own their data, their follower counts, their customers, all the value they accrue online and take it with them, the "Web 2.0" business model is no longer attractive or sustainable.