The Importance of Communities in Web3

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unique.vc

- 10/11/2022

The importance of communities in web3

In the grand scheme of things, the entire Web3 space is rather new to the landscape. Crypto and blockchain have been around for 14 years. But it’s only now that this new technology is really beginning to change the course of history. Even so, you don’t hear too much about it on the news. What if every major ICO would get proper media coverage? Truth is, Bitcoin and blockchain technology, and more recently, the Web3 environment, initially gained momentum from small communities of early adopters and evangelists. Today, the community remains instrumental for the development of Web3.

Web3 – A People-Centric Environment

If we dive into the Web3 space, we quickly understand that every project, small or big, has some kind of community behind it. This reveals a profound characteristic of this new digital economy: Web3 is a people-centric environment. Leaving aside the ground-breaking technology and its benefits, Web3 is also a great display of how people gather and work together. Indeed, there is hardly any other industry/sector with so many strong, independent communities. 

By all means, this is no small feat. It says a lot about the nature of Web3. Most major technological advancements are spearheaded by governments. The Web3 space, on the other hand, is advancing with the participation and support of people. Folks from all over the world have learned the advantages of sharing knowledge and funds. With this, they are building something they truly believe in so they can all benefit.

What Is a Web3 Community?

Before jumping on to discuss more the importance of communities, let’s settle on what exactly they are. A community is any group of people that believes in a certain project. They support it financially, as well as by spreading awareness, getting more people involved and helping the project to grow. A respectable community also offers transparency, accountability and sustainability to everybody involved.

People generally gather on platforms like Telegram or Discord, but Reddit and Twitter are also very popular communication channels. Actually, social media plays a big role in digital investment. More often than not, by joining a community, you can reach out to the project’s founders and members for a relaxed and informal discussion. Not something you would normally be able to do with the CEO of a traditional company.

But one of the best feats is that in most cases, the community has a say in how the project is being managed. Therefore, the third generation of the Internet brings a very democratic approach to the investment process.

The Advantages of Joining a Web3 Community

Some of the biggest and strongest Web3 communities have learned that great power comes when people gather together. Take the GameStop saga for example – one of the first of its kind. A case where people managed to impact the stock market in such a short time, to such a great extent. 

Another example is MakerDAO – one of the first truly decentralized DAOs (decentralized autonomous organizations) that revolves around DeFi projects. MakerDAOs subreddit amounts to approximately 35k users. Close to 20k users are also present on each of the project’s Discord and Telegram groups. Called the “Central Bank of Crypto”, MakerDAO is to a large extent a community-owned project. Upon its great success, it provided significant profit to so many members of the community. 

So how can you benefit by joining a Web3 community? Is this mandatory for investing in crypto and NFTs? Find out below:

  • Joining a community gives you first-hand access to information about a certain project. You can talk with more experienced members to understand the ins and the outs of your common endeavor. Moreover, you can reach out directly to the project’s founders and key members to get a better feel of their vision. This can potentially offer you an edge in making better decisions.

  • Communities also bring transparency and accountability to the investment game. In such a group, every investment is generally debated and voted upon prior to execution. People who run the project are held accountable by members who are keeping a close eye on their common investment. 

  • The feeling of inclusion in Web3 communities is something that you don’t find in many other places. For instance, joining a collector’s club and investing in NFTs with your friends can bring collaboration and investment to a whole new level. Read more to find out why.

  • Let’s not forget why investment is important in the first place – because it facilitates access to profits and income streams. For this, being part of a community instead of acting on your own can make a big difference. Besides pooling funds, collective investment can accomplish so much with effective collaboration across the board. Knowledge and experience gain higher momentum when so many members contribute. When leveraged effectively, this translates into bigger profits for everybody involved.

Investing Together

With all the innovation, it’s worth mentioning that investment communities are not something new. You would be surprised to find out about the rich history of collective investment. As far back as the 18th century, people understood the benefits of investing together. 

Today, of course, we benefit from the technology that makes everything instant, and the possibility to collaborate with anybody, regardless of the place. This alone puts collective investment light years ahead of what it used to be. As more and more people are joining Web3, the diversity of the landscape increases. New opportunities appear in the form of DAOs where the community seems to always be the driving factor. 

All this sets the table for a more performant investment medium, opening the way for new possibilities of earning. It seems that banks and traditional investment no longer understand people. Therefore, individuals across the globe are gathering in numbers, spearheading their advancement on their own terms.  

Are you part of any Web3 community? Do you fancy any venture club that is a good fit for your profile as an investor? Web3 is a place where everybody can find something they’re interested in. Find something you like on Unique Venture Clubs’ decentralized app. The Solana-based platform allows you to share capital and work with others to purchase and manage digital assets in a trustless way. 

We have a big community gathered on Discord and Telegram – where everybody learns something new every day. Join so you can benefit from the educational content from our Academy. We are always happy to listen to your voice and we have specialized in offering custom solutions to anyone interested in using our platform. Stay close so you can join the next open office hours.

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