The Ownership Economy: Crypto & The Next Frontier of Consumer Software – Variant

Hatched by Kazuki
Sep 03, 2023
4 min read
2 views
Copy Link
The Ownership Economy: Crypto & The Next Frontier of Consumer Software – Variant
In today's digital age, where technology is rapidly advancing, the concept of ownership has taken on a whole new meaning. With the rise of cryptocurrencies and blockchain technology, the idea of user ownership has become increasingly prevalent. The protocol innovation of tokens has paved the way for a new frontier in consumer software, where individuals not only have the power to create and operate software platforms but also to own them.
Traditionally, the economic interests of internet platforms have been concentrated in the hands of a select few, often leaving their users with little say or control over the value they contribute. However, the ownership model changes this dynamic by providing users with a powerful motivator to contribute more deeply to products. Whether it's through ideas, computing resources, code, or community building, user ownership ensures that their interests are aligned with the platform over time.
The success of Bitcoin and Ethereum, the first user-owned and operated networks at scale, is a testament to the power of user ownership. Unlike traditional platforms, where founders and investors reap the majority of the value, these decentralized networks allow users to earn the majority of the value generated from their collective contributions. This model not only empowers users but also fosters larger, more resilient, and more innovative platforms.
However, for any startup or new technology, adoption is often the biggest challenge. This is particularly true in cases where network effects are necessary for success. To overcome this hurdle, founders must focus on building products and protocols that make user ownership more accessible to a wider audience. By doing so, they can bootstrap adoption and participation through better economic alignment with users.
Curator Economy: Why Human Curation matters - Rishikesh Sreehari
In a world inundated with information, curators play a vital role in bridging the gap between content creators and consumers. These individuals have the unique ability to sift through the vastness of information available to us and curate relevant and valuable content. While algorithms powered by AI have made significant strides in content curation, the future of content lies in human-to-human interaction.
The creator economy has seen unprecedented growth, with a record funding of $1.3 billion in 2021 alone. As more individuals take on the role of content creators, the cost of creating content continues to decrease. However, amidst this abundance of content, the need for human curation becomes even more crucial. Algorithms may be efficient in curating large chunks of content, but they lack the human touch and personalization that human curators provide.
Curation is one of the three pillars of information commerce, alongside creation and consumption. It requires time, attention, and expertise to sort through hundreds of articles and posts to recommend valuable information to users. The future lies in the intersection of content curation, knowledge management, and community building. This holistic approach not only ensures the discovery of high-quality content but also fosters a sense of belonging and engagement within a community.
Incorporating User Ownership and Human Curation
When we consider the concepts of user ownership and human curation, we can find common ground in their shared goal of empowering individuals and ensuring the delivery of valuable content. Both models disrupt traditional power structures and provide users with a more active role in shaping the platforms they engage with.
By combining user ownership with human curation, we can create platforms that not only provide users with ownership rights but also curate content tailored to their specific needs and interests. This personalized approach enhances the user experience and fosters a sense of trust and loyalty towards the platform.
Actionable Advice:
- 1. Embrace user ownership: If you're building a consumer software platform, consider incorporating user ownership as a core principle. By giving users a stake in the platform, you create a powerful incentive for them to contribute and engage more deeply.
- 2. Invest in human curation: While algorithms can automate certain aspects of content curation, don't underestimate the value of human curators. Invest in building a team of experts who can curate content that resonates with your users and adds a personal touch to their experience.
- 3. Foster community engagement: Building a community around your platform is crucial for long-term success. Encourage user participation, facilitate discussions, and create opportunities for collaboration. A strong community fosters loyalty and drives growth through word-of-mouth recommendations.
In conclusion, the ownership economy and the curator economy are two distinct but complementary concepts that are shaping the future of consumer software. By embracing user ownership and investing in human curation, we can create platforms that empower individuals, deliver valuable content, and foster thriving communities. The path to success lies in aligning economic interests with users, making content curation a human-driven process, and prioritizing community engagement.
Resource:
Copy Link