Community Revival and Encryption | Author: Paul Stavropoulos | The Capital | June 2021


Maybe COVID encourages further online community creation, so we need to find a way to organize people-if we can make it easier for people to find communities, want to participate, want to participate, maybe Gamification Get engaged, we will all have a better life. Nevertheless, people have realized that we can use cryptocurrency and blockchain to capture various values ​​related to the community-state, content, identity and value can now be represented on the chain and can play a key role in community interaction .

Brought in the past few months regeneration Full of experiments around NFTs, tokens created by the community, and DAse. These tools are used to represent community, status, value and ownership. They are also used as mechanisms to promote participation and encourage interactive participation.

Social tokens are creating a “sense of identity” for the community

Community likes FWB (Friends with Benefits) has issued its own social token to represent “buy” into the group. To join, you must purchase and hold a minimum of these tokens, which serve as gated access for members and represent the shared ownership of the community. You can imagine a world in which positive interactions and contributions can earn additional community token rewards, which directly encourage participation and gamification of the community experience.

Friends with Benefits website title

Given that these tokens are associated with actual economic value, it creates a world of shared group incentives, where all participants are incentivized to maintain the community and participate in it.

These groups are also trying How governance will work Through decentralized autonomous organizations (Decentralized autonomous organization).

Trusted community wallet

Blockchain gives the community super powers in terms of payment, because every user has a wallet with a balance, and the community itself can also have its own wallet. The community can conduct crowdfunding seamlessly, make community purchases through shared ownership, and broadcast verifiable transactions.

Looking to the future, more “trusted communities” will form and create publicly verifiable wallets to purchase public goods + services and Verify Funds are sent/received on the public blockchain. These groups, non-profit organizations, cooperatives, and municipalities will be able to more easily crowdfund, decentralize, and democratize public goods. Community leaders will also be able to codify wallet governance to ensure that decisions have provenance and traceability, thereby creating more community support.

You can see the beginning of this new world. DAO has been formed Pool funds and invest in commodities. They have been used to hold digital assets and Split representation These assets.Projects like this Aragon, Syndicate DAO, with Global logo Platforms and protocols are being built to make it easier to create these trusted communities and bring new uses (disclosure: I work at GlobaliD)

NFT is creating a community

NFT collection, such as Cryptopunk with Boring Ape Yacht Club (BAYC) created a series of randomly generated avatars, each with different characteristics and scarce attributes. The ownership of one of these NFT collections allows access to forums and events hosted by the community. These collections effectively build their own culture and community from the people who own them, and attract others with similar values. These communities have found ways to cooperate with each other, promote each other’s work, and gather on the Internet and in real life.

Screenshot of the homepage of veefriends.com, Gary Vaynerchuk’s NFT, the goal is to create a community

Creators are “communicating” with their fan base

Creators are just the first to realize that they are powerful community moderators and can use these tools to build fan communities. They are issuing their own NFT and social tokens to provide holders with gated access and benefits, as well as a new source of income for their brands.Just look at artists like 3lau, Grimes, etc.Although the headlines focused on the new revenue streams created by NFTs, they ignored the discussions among the organizations, secondary markets, and fans created by these NFTs. Just as communities such as BASC and Crypto punks nurture communities through NFTs, so do artists, starting with publishing NFTs in events (like the 3lau event in the introduction).

Other artists like the Portuguese are using such a platform assembly Issue your own social community tokens, for example PTM coin.

Community rewards will replace credit cards + points

As these online primitives take shape, these communities will begin to conduct their own transactions with retailers, merchants, and partners who want to attract group members to their stores. DAO will be able to provide rewards directly to members, and rewards will be issued in the form of fiat currency, cryptocurrency or specific community coins. Users will be able to obtain special rewards and rewards through merchants with higher affinity with them, thereby subverting the traditional credit card + points paradigm, while creating more community support for members.Company likes Global logo Working on this (disclosure: I work here).

An example of an online community creating a customized reward experience. This is the brand card of the “XRP Army” community on GlobaliD, and community members are rewarded through XRP.



Leave a Reply

Your email address will not be published. Required fields are marked *