🔵 Centralising data ownership for artists and stakeholders

Web 3 & When Platform Participants Become Platform Owners

Web2 platforms coerce user loyalty through network effects and closed data, and exiting a platform leaves creators without access to their audiences or content. Web3 affords the opportunity to build systems that foster user agency and self-determination through true digital ownership, open data, and networks that are built atop open-source software... See more

Expanding again on NFTs, one of the most interesting concepts emerging lately is around the Creator Economy – particularly in looking at novel ways that artists, musicians, authors and so on are now able to supplant industry middlemen and pre-program their works to generate royalties perpetually.

In Web3, instead of platforms having full control of the underlying data, users typically own whatever content they have created (such as posts or videos), as well as digital objects they have purchased.

-Permanent data storage - We cannot keep locating our social connections and memories inside servers controlled by for-profit companies.