Like a talent agency, platforms add value to creators by first improving their distribution, exposing them to potentially millions of people. The discovery benefit primarily aids creators who are still building an audience. This feedback loop is positive-sum, encouraging more creators to join. So long as more people keep using the platform, there’s... See more
Indeed, while many outfits grapple with whether to distance themselves from certain digital assets, Republic — whose CEO, Kendrick Nguyen, started his career in securities litigation with Goodwin Procter — has focused from the start on establishing itself as a go-to brand for what Nguyen calls “compliant tokenization.”
Even if most people don’t have a practiced intuition or diverse networks to produce strange objects, listening to one’s own network or intuition is much more likely to voice heterodoxical opinions on the value of a cultural object compared to the wisdom of the crowd or experts as there is less noise.
The process of setting an objective, attempting to achieve it, and measuring progress along the way has become the primary route to achievement in our culture.
Rather than building a static, purpose-built solution to a single common problem with lots of users (and lots of competitors), they’ve won robust user bases by supporting a broad swath of long-tail user needs.