Communities tokenization

Started by RZA2008, Aug 09, 2022, 04:24 AM

Previous topic - Next topic

RZA2008Topic starter

It is realizable to tokenize not only commercial companies (through ICO) and "digital art" (NFT tokens), but also online communities and their "social capital". Simultaneously, community tokens can be much more useful for their owners than any other types of tokens.



What are "communities tokens"

In this case, communities tokens mean tokens issued in limited quantities (ERC-20 tokens in Ethereum, for example) for a particular community. Each of these tokens gives its owner the right to be part of the community. What makes them a kind of "access tokens", an analogue of a residence permit or a membership card in a non-digital world.


Identification of participants in the network

In fact, the list of token owners = the list of community members that is stored on the blockchain. And token holders can relatively easily identify each other on the network (check for community membership).

For instance, if email is accepted as a user identifier in the community, then using email instead of a public key, you can convert it to an ethereum address. And if the owner of the tokens sent a symbolic amount accepted in the community (0.00000301 eth for example) to this address, then all tokens on the balance of the sender's address are considered tied to this email. As a result, it is achievable to determine by email and records in the blockchain whether the user is a part of the communities and how many tokens he has.
Spam filter

Tokens can be used as a "whitelist" for decentralized communication environments. One problem with such environments is the complexity of spam protection. If you do not limit the number of registered users, then they can be generated in any quantity. The creation of verified lists of users means the presence of centralization in such a network. In the case of tokens, there is no centralized user registry, but simultaneously there is a restriction on their "registration".

It becomes expensive to be in the community (you need to somehow get tokens limited in emission). What creates a certain filter for users to join and an incentive to leave the community for those who do not really need it. After all, if you are not interested in the community, and they are ready to buy its token from you for $ 1000, then most likely you will sell it. And vice versa, if a user owns, for instance, a community token "CRM system developers" worth $ 1000, then most likely he is interested in this topic at a professional level.

Tokens can be used not only to limit user registrations, but also to limit the number of any objects created within the community. For instance, the more tokens a user has, the more he can write comments per day. This will limit the total load on the decentralized online environment.

Limiting the number of users may be necessary in other cases. For instance, when distributing airdrops. Without a numerically limited list of users, it is necessary to limit distribution by ip, phone or other identifier, which one Internet user, if desired, can receive in large quantities.


Community over technology

With tokenization, the list of participants stored in the blockchain becomes the core of the online communities. How exactly the community will communicate with each other is not important. And if the current communication technology of a decentralized community becomes obsolete, then the community can relatively easily change it to a new one using the same list of participants from the blockchain. Or at one moment combine different communication technologies (Twitter, Telegram, Mastodon) within the same community.

Online communities are often based on a group of authors who publish the bulk of the articles or actively communicate on the form. The website itself is not so important. Raising a forum or blog platform is relatively easy, but bringing together two dozen authors is a more difficult task. And a group of such active authors is a more important part of the community than the community platform itself.

During tokenization, such authors can initially acquire a serious share of the issued tokens in order to further take an active part in the community (on its forum, blog platform, etc.) and receive a measurable profit from this.
Each member is a co-owner of the community

Regular online communities always have one or a small group of initiators-owners. Which not only completely determine the development of the community, but also receive all the profit from its growth and development.

When the community is tokenized, then it does not have one owner. Each participant can influence the development of the community, and also (more importantly) benefit from the development of the community by increasing the value of its tokens. Which creates at least indifference to the future of the community for each participant.

There were several projects on the Net, the organizers of which introduced formal self-government in the community of their site. Including with the right to choose the "main in the community" who would determine how the website should develop. But all this is the same fiction as the day of self-government at school. After all, the website and the domain on which it is located belong to its owner. And the users of such a site/community have no actual rights. With tokenization, the initiator of the communities(the issuer of tokens), after their distribution/sale, will own only a part of the community. And technically be just as regular a member as everyone else.


Analogy with industry conferences

For a better understanding of what community tokens are, why they are needed and why someone should pay for them, we can draw an analogy with industry conferences. As a rule, to get to such a conference, you need to buy a ticket. Similarly, in tokenized communities - to get into the community, you need to purchase / earn a token.

Proceeds from sold conference tickets - covers organizational and marketing expenses. In communities, the money received from the initial sale of tokens - covers the costs of developing the concept, the online communities platform and attracting participants.

A community token, like a ticket to an industry conference, does not give you a guarantee that you will receive, for instance, a job offer or a lucrative contract. It only gives you access to a certain community.

It happens that companies form a community around themselves. They organize conferences, write articles and create many activities in the community. Significant resources are spent on all this, which do not always pay for themselves, and for small companies they are completely unbearable. It is much more profitable for medium-sized companies to become a "sponsor" of several tokenized communities. By purchasing, for instance, 5 -10% of the tokens issued by each community. In this way, they gain serious influence in the community, but they do not have to fully support it themselves. Since the rest of the private co-owners of the community will also be interested in its development and it will be beneficial for them to be active.


New type of investment assets

Getting communities tokens is an investment in social capital. Can this type of asset become popular? Given the popularity of such an extremely dubious asset as NFT image tokens, more practically useful community tokens may become just as popular.

Tokens can be issued by opinion leaders or groups of such leaders who already have a certain social capital (audience trust), which they tokenize when creating a community. From the very beginning, such tokens already have a minimum "collateral" in the form of trust in their issuers, as well as currencies issued by states (of course, on an order of magnitude smaller scale).

Buying a promising community token can be as potentially profitable an investment as, for instance, buying real estate in California at the very beginning of the formation of silicon valley there. communities tokens, as well as real estate, make it possible to stake out the right to access a certain group of people.

And if it will be achievable to monetize non-commercial communities through the issuance of tokens, then it will be profitable to invest serious funds in the creation and development of such communities for the subsequent sale of their tokens. This can significantly increase the number of high-quality niche communities with a high level of activity and many internal social connections.
  •  

nesterland

There is communication and there is broadcasting. When interacting, people exchange messages. When broadcasting, there is no exchange. This can be used to fight spam - make sending/receiving a message equivalent to sending/receiving funds, i.e. when sending a message, you pay N "money", but not to the messaging service, but to the addressee, as a "thank you for your attention", and you can put that thank you in your pocket :)

With a full-fledged dialogue, the parties will remain approximately on their own, since approximately the same amount will go back and forth, the balance will be near zero. The spammer will have to pay a lot, and the inconvenience of spam recipients will at least be compensated.

Principally, there is already a corresponding token - Basic Attention Token (BAT). So far it is only used to support content creators and optional advertising, but it would be amusing to see it evolve towards messaging and spam-free email.
  •  

rishisab

As for the topic of the thread, the real mechanisms that will be behind these "tokens" are unclear. Well, let's say I purchased a community token "Java programmers".
What's next? What opportunities and rights does this give? What obligations does this impose? Tokens are a mechanism, but you need to start creating a community not with this, but with defining goals and ways to achieve these goals by the community. Without this, tokens are the essence of a cargo cult.

Anarchy sounds good in theory. In practice, it turns out bullshit. Always.
Either centers of power appear in the community itself, raking in power (and resources), or power comes from outside and, again, rakes in.
  •