Web3—Community first

In aligning incentives between leaders (core creators and team) of a community and its members, smart contracts and token economics will not only be able to govern access to utility, but also incentivize all stakeholders in developing and co-creating additional utility.

The core ethos of web3 is:1) taking away the middle-man by enabling true peer-to-peer social and transactional relationships and2) rewarding people based on their actual contributions, both financially and through social recognition.

Web3 will offer new and optimized ways to enable, recognize, and reward social capital. Due to its decentralized nature, proof-of-X will not be determined by a single centralized platform or middle-man but can be negotiated and defined differently by every bespoke community.

Community as the killer app for web3, owned by the people leading and participating in them, and orchestrated by tokens.Communities Beat Individuals Any Day of the Week.

Finally, members and fans can partake in the combined social capital and utility value being created through issuing social or community tokens.

Social capital is typically accrued by users or members delivering proof of capability or affinity (“Proof-of-X”). This is not just a play within online social networks but manifests itself in the “real” world.