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1 month ago | 
a16zcrypto.com | Eddy Lazzarin |Scott Kominers |Miles Jennings |Robert Hackett
Forget what you think you know about tokens. We present a new framework that could change the way you view crypto. with @eddylazzarin @skominers @milesjennings @rhhackettToday we’re diving deep into *the* defining concept in crypto: tokens. We’re moving beyond conventional categories — like “governance tokens” or “utility tokens” or even “memecoins” — to present a full taxonomy that details what tokens are, what they aren’t, and what they’re capable of becoming.
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Mar 5, 2025 | 
a16zcrypto.com | Miles Jennings |Scott Kominers |Eddy Lazzarin
With growing activity and innovation around token-based network models, builders are wondering how to distinguish different types of tokens — and which might be the best choice for their business. At the same time, both consumers and policy makers are trying to better understand the roles and risks of blockchain tokens in applications.
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Mar 5, 2025 | 
a16zcrypto.com | Miles Jennings |Scott Kominers |Eddy Lazzarin
Distinguishing network tokens from company-backed tokens can be difficult, because both types of tokens may have utility and derive some value from both onchain functioning of a blockchain and offchain efforts of a company. But it’s important to distinguish between them: Network tokens and company-backed tokens pose very different risks to holders and should therefore be treated differently under applicable laws. So, where’s the line?
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Nov 22, 2024 | 
a16zcrypto.com | Alex Tabarrok |Scott Kominers |Sonal Chokshi
with @atabarrok @skominers @smc90We’ve heard a lot about the premise and the promise of prediction markets for a long time, but they finally hit the main stage with the most recent election. So what worked (and didn’t) this time? Are they better than pollsters, journalists, domain experts, superforecasters?
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Sep 19, 2024 | 
a16zcrypto.com | Scott Kominers
We recently launched this fall’s cohort of our Crypto Startup Accelerator (CSX). The Research Team met with the founders to go over the basics of what we do, and to answer questions and workshop answers. Here are three market design takeaways from my part of the conversation. 1. With marketplaces and protocols alike, the optimal strategy is often to start broad, then narrow, and then broaden again.
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May 20, 2024 | 
a16zcrypto.com | Scott Kominers |Liang Wu
Competitive strategy — the art of crafting and executing plans to achieve an advantageous position in the market — is integral to any business, and especially relevant for platforms because it determines their ability to achieve network effects and scale. But web3 fundamentally transforms the nature of competition and collaboration, which necessitates a rethinking of the way firms establish their market position, achieve network effects, and capture value.
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Mar 22, 2024 | 
theatlantic.com | Scott Kominers |Jesse Shapiro
If you don’t trust social media, you should know you’re not alone. Most people surveyed around the world feel the same—in fact, they’ve been saying so for a decade. There is clearly a problem with misinformation and hazardous speech on platforms such as Facebook and X. And before the end of its term this year, the Supreme Court may redefine how that problem is treated.
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Feb 21, 2024 | 
a16zcrypto.com | Scott Kominers
One of our goals with our new book, The Everything Token: How NFTs and Web3 Will Transform the Way We Buy, Sell, and Create, is to unlock the power of nonfungible tokens, or NFTs, for business. National and international brands are already using NFTs in some of their consumer-facing campaigns, but we think far more of them could benefit from the technology. And we don’t want local businesses to be left behind; NFTs present them, too, with opportunities to engage their fans and communities.
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Feb 19, 2024 | 
shepherd.com | Richard Holden |Scott Kominers |Chris Dixon
Well, the author is a friend of mine but it’s also on a topic close to my own academic research interests. So it was kind of compulsory reading for me, but it might be the most enjoyable compulsory reading I’ve ever done. I thought NFTs were just a gimmick to do with internet pictures. But the authors explain, with great examples, that NFTs are best thought of as a new technology for creating digital assets.
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Feb 16, 2024 | 
nber.org | Scott Kominers |Jesse Shapiro
Skip to main content The authors thank Shai Bernstein, Rafael Jiménez-Durán, Daniel Kornbluth, Sriram Krishnan, Mohamed Mostagir, Alex Nichifor, Leah Plunkett, Marco Reuter, Tim Roughgarden, Suproteem Sarkar, Alex Teytelboym, Liang Wu, and seminar audiences at Carnegie Mellon University, the University of Pittsburgh, and Harvard University for helpful comments.
