The Ownership Economy 2022 – Variant: The Questions You Should Ask Yourself to Figure Out What You Really Want

The Ownership Economy 2022 – Variant: The Questions You Should Ask Yourself to Figure Out What You Really Want

In today's society, many of us find ourselves following the traditional paths that have been laid out for us. From a young age, we are taught to model and emulate these behaviors, whether it's going to college, getting married, buying a nice house, or climbing the corporate ladder. These expectations can create anxiety and pressure, especially when we feel like we're not meeting the milestones that society has set for us.

But what if the road well-traveled isn't the right one for you? What if there's something else out there that you truly want and desire? Finding out what you really want requires time and reflection, as well as an understanding of your values and motivations.

When we live a life full of "shoulds," there's very little room for improvisation. We become trapped in a cycle of societal expectations, never really taking the time to consider if these are the things that truly fulfill us. But when we start asking ourselves the right questions, we can begin to uncover our true desires and passions.

One important question to ask yourself is, "What would I be doing if I could do anything?" Think about your natural passions and skills. What excites you? What brings you joy and fulfillment? Sometimes, the answers to these questions can lead us down unexpected paths, but they can also guide us toward a more authentic and fulfilling life.

It's also important to consider the motivations behind your desires. Are they driven by external factors, such as societal expectations or pressure from others? Or are they internally driven, stemming from your genuine appreciation for certain things or people? For example, if you've always wanted a house with a big yard so you can rescue dogs and host your large family for get-togethers, your motivations are likely internally driven by your love for animals and loved ones.

Understanding your motivations can help you distinguish between what you truly want and what you think you should want. It can also help you navigate the expectations and pressures that come from family and cultural traditions.

Now, let's shift our focus to the ownership economy. The ownership economy is a powerful new tool that not only allows builders to leverage market incentives but also has the potential to create positive social change through the wider distribution of wealth-building assets.

In the ownership economy, users become owners. This means that the products and services that define web3 and the next generation of the internet are those that transform users into owners. This shift in ownership has led to the rise of user-owned financial markets, social networks, investment clubs, and digital assets.

The market capitalization of the tokens tracked by data aggregator CoinMarketCap is now at $1.76 trillion, with Bitcoin and Ethereum being the largest cryptonetworks. The ownership economy has gained significant traction, with platforms like Metamask and Phantom experiencing millions of monthly active users.

But while user ownership can jumpstart growth, sustaining it is more challenging. Simply giving users ownership is not enough to ensure long-term usage and success. Tokens can capture user attention and drive initial adoption, but they must be coupled with strong product-market fit to sustain usage. Users still prioritize liquidity and the presence of a counterparty for their desired transactions when choosing a marketplace.

There is also the question of whether ownership crowds out intrinsic incentives for using a product. Intrinsic motivation can be undermined by extrinsic motivations, especially when users previously found the behavior intrinsically rewarding. To preserve users' intrinsic motivation, token incentives should be optimized in terms of timing, magnitude, eligibility, and other factors.

New token distribution designs are emerging to boost user loyalty and long-term engagement. Axie Infinity, for example, has seen strong player retention over time, indicating that engagement is not solely driven by novelty. Curve and Gro have implemented voting escrow and vesting mechanisms, respectively, to encourage long-term participation. These new token incentives focus on contributor growth rather than just deepening liquidity, which is crucial for the growth of the ownership economy.

The ownership economy also fosters richer ecosystems of projects and contributors. Shared ownership reinforces network effects and creates a disincentive to switch to other blockchains. Projects like CC0 NFT (non-fungible token) projects allow for the free use of assets, extending the possibilities of ownership and stimulating collaboration and creation.

Furthermore, the ownership economy allows users to become owners earlier and participate in value creation. Web3 companies are launching tokens much earlier in their lifecycle compared to traditional VC-backed companies. Ownership is now extending to all categories of software products, with the potential for users to have a stake in the value they create.

In conclusion, figuring out what you really want requires introspection and an understanding of your values and motivations. By asking yourself the right questions and reflecting on your natural passions and skills, you can uncover your true desires and live a more authentic life.

In the ownership economy, users become owners, leading to the wider distribution of wealth-building assets. While user ownership can jumpstart growth, sustaining it requires strong product-market fit and optimized token incentives. New token distribution designs are emerging to boost user loyalty and engagement, and the ownership economy fosters richer ecosystems of projects and contributors.

To navigate the ownership economy and live a more authentic life, here are three actionable pieces of advice:

1. Take the time to ask yourself what you truly want. Reflect on your natural passions, skills, and motivations. Consider what excites you and brings you fulfillment. This self-reflection will help guide you towards a more authentic life.

2. When participating in the ownership economy, focus on the long-term. Look for projects and platforms that prioritize user loyalty and engagement over short-term gains. Consider how your participation aligns with your values and motivations.

3. Embrace collaboration and creation in the ownership economy. Seek out projects that foster collaboration and allow for the free use of assets. By participating in these projects, you can contribute to the growth of the ownership economy and have a stake in the value you create.

By combining self-reflection and active participation in the ownership economy, you can live a more authentic life and contribute to the positive social change brought about by the wider distribution of wealth-building assets.