- Hashed Out
- Posts
- Web3 Communities
The internet has always been about people. From the earliest message boards to today’s decentralized networks, online communities have shaped how we connect, collaborate, and create. But in Web3, communities aren’t just social spaces—they are the foundation of everything.
Whether it’s a DAO coordinating global funding decisions, an NFT project fostering a digital tribe, or a decentralized protocol rallying users around a shared vision, Web3 thrives on collective action. This is a sharp contrast to the centralized platforms of Web2, where engagement is driven by algorithms, and users are products rather than stakeholders.
The Community-First Model
Unlike traditional startups, where a company builds a product and then finds users, Web3 projects often start with the community first. People gather around an idea, pool resources, and then build something together.
This approach has led to incredible innovation:
Ethereum wasn’t built by a single company; it was developed by an open-source global community.
NFTs didn’t become mainstream because of corporate marketing, but because of communities like Bored Ape Yacht Club and CryptoPunks creating value around digital ownership.
DAOs like Nouns DAO and Bankless DAO prove that financial and creative decisions can be made collectively, not just in boardrooms.
In many ways, Web3 has revived the early spirit of the internet, where people came together to create, not just consume. But unlike those early days, Web3 adds something new: ownership and incentives.
The Power of Incentives
Web3 communities aren’t just fan groups. They are networks where members have skin in the game. Whether through governance tokens, profit-sharing mechanisms, or NFT-based memberships, participation in Web3 communities often comes with real stakes.
This can be an incredibly powerful force:
Contributors feel invested in the success of a project, leading to higher engagement and long-term commitment.
Tokenized incentives allow creators and contributors to be rewarded fairly, without relying on extractive business models like Web2’s ad-driven economy.
Community governance ensures that the people most affected by decisions have a voice in making them.
At their best, Web3 communities empower individuals to build, contribute, and create value in ways that weren’t possible before. At their worst, they can devolve into speculation-driven echo chambers. The challenge is ensuring the former remains dominant.
Surviving the Bear Market
It’s easy to talk about community when everything is bullish. But real communities are stress-tested in downturns.
Over the past two years, as crypto prices fell and hype subsided, we saw which Web3 communities were built to last. The projects that thrived were the ones that weren’t just about making quick money but about real engagement, utility, and shared purpose.
This is a lesson for builders: hype fades, speculation crashes, but strong communities endure.
This is also a valuable insight for Web3 skeptics or the Web3 curious. I say it often in conversations I have with both groups, too often the media is focused on crypto bubbles, meme coins, or projects that are rug pulls. Although those aspects exist, there is so much value to what the idea of Web3 offers: blockchain for enhanced network capabilities, NFTs and social tokens for community engagement or supporting culture creators more fairly, and the benefits that secure digital identities will bring to us.
Beyond Speculation: What’s Next for Web3 Communities?
If Web3 is to succeed, its communities must evolve beyond financial speculation. That means:
Creating real-world value. Can Web3 communities build tools, products, and services that solve real problems?
Expanding access. How do we make Web3 more inclusive, so that it’s not just a playground for insiders?
Strengthening governance. Can DAOs and decentralized networks create better decision-making structures that scale?
We don’t have all the answers yet. But we do know this: Web3 without community is just tech.
And it’s the community that will determine whether Web3 becomes a lasting movement—or just another internet trend. I firmly believe that it will be the former.
— Hashed Out Editorial Team
If you have enjoyed this addition of Hashed Out, or our previous issues, (and I hope you have) then I invite all the non-subscribers to subscribe and join our community and for those of you in the community I hope you can forward this to others you know and help our community grow. 🙏
Other Articles In This Issue:
