Are we really trying to create community, or just fancier echo chambers? The promise of Web3, of decentralized everything, hinges on a fundamental question: can these new Ethereum tokens actually foster genuine human connection, or are they merely fueling another wave of speculative hype?

Accessibility: Who Gets A Seat?

The first hurdle is accessibility. It's easy to get caught up in the technical jargon – gas fees, smart contracts, DAOs – but let's be real: how many people outside the tech bubble even understand these concepts? If participation means needing a PhD in cryptography and a trust fund, we’re already failing.

Or consider indie studio Aether Games and their upcoming Wheel of Time trading card game. Cool, right? What good is that to a kid who can’t afford the first card bundle? Or an artist who can’t afford to spend years toiling for digital commodities? Are we on the verge of a new kind of digital feudalism with the rich just capturing all the digital territory?

We need to ask ourselves: are we designing for inclusion or exclusion? Are we constructing real bridges between networks or merely leveraging technology to create more gated communities on the blockchain. The success of these tokens depends on whether they can onboard people with varying degrees of technical expertise and financial resources.

Governance: Who Holds the Power?

Then there's the issue of governance. Moon DAO aims to get every person to space – what an incredible and bold vision! Who decides who gets to go? Who controls the DAO's treasury? If a small group of token holders can dictate the future of the project, it's not really decentralized, is it?

It’s akin to a public town square where only the property owners are allowed to address the crowd. The promise of blockchain is to return power to the edges, to decentralize power. To be clear, we need to put the right people in charge of this narrative.

We will need strong mechanisms to prevent concentration of tokens, or we risk drowning out many voices. This danger of Sybil attacks is serious, and we need to create nuanced, strong strategies to defend against them.

Purpose: Beyond the Speculation

Ultimately though, the fate of these tokens comes down to why they exist. What common interests or aspirations bring together these dissimilar communities? Are they actually having any real impact on the world outside of their research?

Behind these first three lies a wealth of potential from Skillful AI, Micro GPT and BOLT. They are actually doing those things, and are they solving problems or creating new ones. Are they creating opportunity for all, or just making the first movers wealthy?

BOLT, through its emphasis on micro-transactions, can easily change how content is created and begin to help creators earn a living directly from the content they create. Perhaps it’s unsurprising, then, that 40% of their executive leadership team is female. Equally bold is their commitment to become climate positive by 2040. Yet other projects are truly going beyond profit. They are doing the hard work to build a more equitable and sustainable future.

Let's not fool ourselves. The attraction of sudden wealth is an effective motivator. We need to establish mechanisms that encourage long-term investment and fend off the destructive tendencies of short-term speculative investments. We need to foster a culture of collaboration and mutual support, where community members are valued for their contributions, not just their token holdings.

It’s not only about the innovation. It’s about the talent. It’s about our ability to create inclusive, equitable, and purpose-driven communities that have the potential to change the world for the better. Without any teeth, we’re only creating castles in the air. These imaginary fortresses of past glories are only meant to fall.