Li Jin on The Passion Economy & Its Hidden Currency

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…

In the Maven case, that’s experts who didn’t really have a way to share that expertise and monetize it with the world.

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

Something NFTs allow you to do is identify that one true super fan who is willing to pay a really high amount and allow a creator to earn a lot off of not that many followers. Not only can you identify them, but really you’re allowing them to identify themselves.

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.

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

James: You can monetize your super fans to a higher degree such that you don’t need to become widely mega-famous if you can be deeply, vertically famous.

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.

So like with Patreon. Let’s say 4 months ago you had five people subscribing or being a patron to your stuff, but now you have a thousand people, and so you’ve scaled it up, but you still only had to make one video to earn more. So it’s a sort of scaling factor.