The Social Token Paradox: Overcoming Exclusivity and Embracing Web3's Vision

The Social Token Paradox: Overcoming Exclusivity and Embracing Web3's Vision

Introduction:

In the world of web3 and decentralized communities, social tokens have emerged as a new way to incentivize participation and build tokenized communities. However, the current structure of social tokens revolves around what individuals have, such as social or financial capital, rather than what they do. This creates a paradox known as the Social Token Paradox, where tokenized communities are incentivized to uphold exclusivity, contradicting the vision of a truly open internet. In this article, we will explore the flaws in the current mental model of social tokens and discuss how we can overcome the paradox to create a more inclusive and vibrant web3 ecosystem.

Connecting the Dots:

To better understand the Social Token Paradox, we can draw parallels from Ferdinand Karl Piëch, a renowned engineer and business executive who transformed the Volkswagen Group. Piëch's personality traits align with the assertive-sadistic prototype, characterized by narcissism, Machiavellianism, and psychopathy. While Piëch's assertiveness and ruthlessness fueled his success in the automotive industry, his leadership style also showcased a lack of empathy and a disregard for social norms.

Similarly, in the context of social tokens, the emphasis on exclusivity and the pursuit of token value can lead to a disregard for inclusivity and community-building. Tokenized communities should be centered around what individuals do, their contributions, and their online history, rather than what they possess in terms of capital or influence.

Overcoming the Paradox:

To overcome the Social Token Paradox, we need to shift the focus from exclusivity to inclusivity and redefine the concept of status in web3. Here are three actionable pieces of advice to guide the transition:

• 1. Emphasize Community Contributions: Instead of valuing social tokens based on the number of tokens an individual possesses, we should focus on their contributions to the community. This can be achieved by implementing reputation systems that reward active participation, content creation, and collaboration.

• 2. Foster Collaboration and Openness: Tokenized communities should encourage collaboration and openness to create a more vibrant and diverse ecosystem. By breaking down barriers and promoting inclusivity, we can unlock the true potential of web3 and foster innovation.

• 3. Redefine Status: Instead of measuring status based on capital or possession, we should redefine it based on the number of communities an individual is a part of and their online history. A rich online story and active involvement in various communities should be valued as a symbol of status and influence.

Conclusion:

The Social Token Paradox highlights the need to reevaluate the current mental model of social tokens and shift towards a more inclusive and community-centric approach. By focusing on what individuals do rather than what they have, we can create a web3 ecosystem that aligns with the vision of an open and decentralized internet. By emphasizing community contributions, fostering collaboration, and redefining status, we can overcome the paradox and unlock the true potential of social tokens in the future of web3.