Li Jin on The Passion Economy & Its Hidden Currency

On Web3: There’s probably too much emphasis on the trustless nature and also being uncensorable. I think most people are actually very trusting and don’t mind trusting a third party, and I think also most people probably aren’t saying things that would need to be censored or removed from these centralized services.

In the gig economy: To earn more, you just have to do more gigs, do more work, put in more hours, take on an additional task…

NFTs are a way to capture the attention of a popular creator, in a world in which the creator is constantly being bombarded.

We’ve always had creators purchasing attention of consumers… it’s advertising! But much more rare to have the consumers now (the fans) purchasing the attention of the creators.

I think what’s more interesting about Web 3 and the angle that I would love to explore more is, in so far as it serves as a vector for allowing platform participants to become the owners of the platforms themselves.

What I’m really interested in is companies that are inviting new participants into types of creative work that had been previously inaccessible to people.

In the Mirror case, that was writers who aren’t publishing frequently.

I think NFTs are a form of a non-fungible like.

What I think we’re saying here is that perhaps writing, or marketing, or figuring out how to get more attention is the rewardable talent for the current age and going forward.

So they’re enfranchising a new segment of the population to do some type of work that hadn’t really been easy or available to them before.