Welcome to the #OWNInsights series, where we invite industry leaders to take us on a thought provoking journey through the #Web3 space. Please enjoy this article written by #erickpinos, Americas Ecosystem Lead at #Ontology. https://medium.com/ontologynetwork/own-insights-06-the-financialization-of-daos-and-did-370d959f620d Over the last few years, we've seen the development of the #Web3 ecosystem, expanding beyond areas like #DeFi & #NFTs to include new solutions such as #DAOs & #DID. By looking at how past verticals have grown in popularity, we can predict how these new Web3 pillars will grow. ✴️DeFi✴️ Whilst #DeFi become popular in the 2020's, it has been around for much longer. #MakerDAO launched in 2017 for example. It was #YieldFarming that exploded in 2020 to launch the popularity of DeFi. It should come as no surprise, that offering financial rewards - worked. ✴️NFTs✴️ Following the #DeFi hype slowdown in 2021, #NFTs rose to the forefront. As people such as #beeple showed that you could sell an #NFT and regularly make profit, interest grew in the market. Again, financialization of #Web3 products accelerated its growth. ✴️DAOs✴️ #DAOs are important to #Web3, offering solutions around project governance &content creation. Rewarding people for their time, is a question to be answered. Bounties could be a solution to rewarding #DAO members. Perhaps being to DAOs what #YieldFarming was to #DeFi. ✴️DID✴️ Data brokers make money from trading peoples data. #DID has the ability to move that data ownership to the users themselves. A solid #Web3 infrastructure, will allow the users themselves to profit from selling their data, providing the monetization of DID.