How Asset-Oriented Platforms Will Change the Trajectory of Web3

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Creating a personal website today is trivial. This can be done with a few clicks and with a credit card.

But it wasn't always like this.

In the early days of the Internet, building a website was time-consuming, tedious, and expensive. Companies had to spend tens of thousands or even hundreds of thousands of dollars to build their own hosting infrastructure.

Even large companies have encountered this problem.

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According to the Seattle Times, "In the early 2000s, software engineers at Amazon complained that they were spending too much time building and maintaining digital infrastructure."

What Amazon engineers experienced was not uncommon. It was all too common among companies and businesses around the world looking to harness the power of the internet. Yet, by reducing the time and cost of starting a web-based business through their innovations, Amazon and their competitors have enabled a whole generation of web-native businesses to become household names - Airbnb, Uber, Lyft, Instacart.

Web3 faces similar constraints to Amazon in the early 2000s, as the developers building Web3 today are constantly rebuilding their own asset infrastructure. This is because the underlying blockchain platforms that host Web3, such as Ethereum, are not asset-oriented. The platforms do not provide developers with the infrastructure to easily create assets and force developers to create this infrastructure themselves - from scratch - every time they need a new token.

Like Amazon's decision to create a basic cloud infrastructure reported with billions in annual revenue, Web3 can unleash its true potential by embracing resource-oriented platforms.

Web3 faces constant reinvention of the wheel

In today's Web3, whenever a developer needs a new token, they are entirely responsible for constructing all the logic that defines the rules for when the token can be held , sent, struck or burned. Since no standardized coins or components are provided by the Ethereum network, the logic for creating and managing new tokens is mostly copy-pasted.

In this context, networks generally do not provide guardrails or native features to help developers securely create and manage tokens and the corresponding economies. Simply put, existing blockchain platforms are not asset-centric, which means they don't prioritize the easy deployment of new assets without relying on time-consuming and repetitive processes.

Like early Amazon developers, in the current Web3 iteration app developers spend up to 90% of their time "reinventing the token". By comparison, asset-oriented platforms that streamline these time-consuming development activities can catalyze a dramatic improvement in Web3's build economics.

The enablers that catalyze emerging industries

Web3 is all about leveraging assets (tokens or NFTs) to create systems of incentives to deliver products and services in a more automated, reliable, and with minimal permissions.

You cannot have DeFi, identity solutions, or decentralized autonomous organizations (DAOs) without assets that grant some form of rights or responsibilities when participating...