Miles Jennings
@milesjennings
Network Tokens (BTC, ETH, SOL) vs. Company-Backed Tokens (FTT): 1️⃣ Is the system open? 2️⃣ Do network effects accrue to the system/token? 3️⃣ Can tokenholders accrue independent value? If yes, then whether it's a L1, L2, DeFi or gaming token, it's likely a network token:
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Miles Jennings
@milesjennings
For more, see: https://a16zcrypto.com/posts/article/network-tokens-vs-company-backed-tokens/
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