Ownership Economy

In a world where the amount of things you can speculate on is ever increasing - it’s more efficient to find the next airdrop than contribute meaningfully to a single project. The result is a depleted treasury and lots of speculators, with no resulting impact on retention/growth.

Why do we need *tokenized* loyalty programs if we have perfectly well-functioning regular loyalty programs? Let me explain the benefits of tokenizing using one of the most popular loyalty programs in the US: Starbucks Rewards 🧵

As consumers have an opportunity to own a part of everything they enjoy - from a Substack subscription to their favorite beverage - the plumbing of marketing and sales is transformed by a new form of p2p spread. It’s also more authentic to help sell what you genuinely love.

For products to work at scale they need sustainable business models and networks. Would love to see more discourse in web3 about the complex financial incentives conflicts that we’re going to see if the movement goes beyond DeFi/trading-related use cases. A few examples👇