Align Your Community With Web 3.0

“How much you truly “believe” in something can be manifested only through what you are willing to risk for it.”

― Nassim Nicholas Taleb, Skin in the Game: Hidden Asymmetries in Daily Life

Web3 aligns the community towards a shared goal through mutually beneficial incentives. Convincing others of the value becomes so much easier when all our incentives are aligned.

What is web3?

Web3 is the natural evolution of the internet, to understand this it is worth look at where we came from.

Web 1.0 - 1990 - 2004 Read Only

This was a time where most users were content consumers only, the creators were the developers. Most sites started as in real life (IRL) items moved straight onto the internet, static pages, no interaction possible such as the first news site below

• Static pages
• Content creators were mainly developers
• Frames and tables used to position and align elements

Web 2.0 2004 - 2020 Read, Write & Social Web

Anyone can become a creator, your creations can be shared with the world and the web becomes fully dynamic! A huge step forward from web 1.0… but at a cost. All this creation is actually owned by a few monolithic organisations. What about the communities you build… yep owned by the big corp

• Create videos on YouTube - Google Owns Them
• Create a community on Facebook or Instagram - Meta owns them
• Create an article on LinkedIn or the ultimate book of your contacts and achievements - LinkedIn owns it all

Web 3.0 Read, Write & Ownership

Web 3 is the internet owned by the creators and users, orchestrated with digital tokens.

Hold on! What is a token?

The dictionary defines a token as “a thing serving as a visible or tangible representation of a fact, quality, feeling, etc.” add a smart contract on top that clearly states what it is representing, amount, usage limits ect and your have a digital token.

Creators

Web 3 gives us the opportunity as creators to own what we create, it is cryptographically secured and recorded on the digital ledger to prove it was created by me and owned by me or whoever I decided to pass it on to.

Consumers

As consumers, it allows us to move from consumer to contributor we can be part of what is being built. It moves the link between creator and contributor closer, removing any unnecessary middle people or organisations. Such as Facebook or YouTube.

What Web3 gives, is all parties skin in the game, to create alignment between ourselves and the community via a shared incentives built around a shared purpose. We get to share in the up side and the down. I bring it back to the quote I opened with.

“How much you truly “believe” in something can be manifested only through what you are willing to risk for it.”

― Nassim Nicholas Taleb, Skin in the Game: Hidden Asymmetries in Daily Life

Lets see how this could work in the real world

I am part of a community here in Bournemouth called You Are the Media (YATM), “The Supportive Marketing Learning Community”?. I will use this as an example of how Web 3.0 could help align your community.

One Possible Web 3 Story of YATM

YATM creates a limited run of 5,000 unique NFT membership badges, the?artwork for the badge is?created by a member of the YATM community, for ease we will call it a badge for the rest of this story. The badge confers certain lifetime utility to the holder, partnership opportunities, discounted event rates etc. The long term members?of YATM community are given special Whitelist priority to be the first to get one (To be minted as we call it in web3).

Written into the smart contract that sits within the badge is the fact that of each sale 5% will go towards the good cause pot, 5% will go towards the artist, 20% will go towards running costs and 70% will go into the YATM community pot. Also each resale of the badge 10% will always go back to the YATM split as above, this is all coded and viewable for trust on the blockchain

From the YATM site - When people trust you, they spend more time with you, subscribe to you and spend money with you. The strongest place you can be in today, is one where you have?ownership of your database and it belongs to you, not a third party

Now the trust in YATM is measurable, the more people trust in the value of YATM the more the badge increases in value as there are more people who want to own one. Those that move on in their lives and no longer get the value of the community can now sell the badge on the open market to someone who still sees the value, increasing the value to YATM community as a whole.

Ownership

Each?badge is clearly shown on the decentralised blockchain ledger so now the relationship is with whoever is the holder of the badge. To get access to the certain groups you must prove your ownership of the badge - which is all done automatically via smart contracts.

Unique partnerships automatically detect your badge and offer you exclusive opportunities, you are shopping online and it knows you are a YATM badge holder it shows you a unique limited edition T-shirt you can buy, or you get a free coffee when you enter the partner coffee shop, or maybe using notifications on your phone as you enter an event there is a treasure map with clues only available to badge holders... now overlay AR to this!

What if I dont have a Badge?

This is where the $YATM coin comes in. By completing tasks within the community you might be rewarded, maybe for sharing an upcoming event you get a thanks, for helping out to deliver the event, helping create some graphics you also get some coins.

Just by holding the coin you get access to the YATM facebook group. Have 50 coins access to YATM learning, a 1000 coins, now you get the opportunity to join in a special meal with the speakers at the conference. Just by being involved you get rewarded. Special online marketplace for the skills within the community allows for trading of skills for $YATM coin.

And due to the decentralised blockchain rails it is all built on, you can also trade your coin on the world open market and exchange for ￡.

DAO? Decentralised Autonomous Organisation or DAC Decentralised Autonomous Community (DAC)!

Now YATM sets up a DAC. The money from the sale of the NFT goes into the treasury, extra money from the exchange of coins also goes into the pot. The DAC is governed by the holders of 1000 or more coins and Badge holders, but anyone who has a Badge or coin can be involved.

Community pot, where do we spend it? A business who wants to try and launch a new innovative content marketing approach... lets vote to see if we allocate some funds. Next conference, whats the budget... let the community decide. Charity pot... where do we spend it? you get the idea

This is just the beginning of the YATM adventures in web 3.0, where could it go as the tech and adoption grow? What about adding augmented reality or VR?

"This is a work of fiction. Any resemblance to actual persons, living or dead or actual events is purely coincidental"

So to bring it full circle, why is web3.0 important for your business? It allows for the alignment of value between you and your audience/customer/participant. It unlocks through a secondary markets and ownership a whole new business model opportunity and revenue streams, whilst still not only delivering value but exceeding the previous value you where giving.

If you would like to discuss how any of this could work in your business please get in touch, see my linktree for ways to get in touch.

If you would like to subscribe to my Add-Ventures in Web 3.0 where I aim to inspire, teach and building a community around web3.0 for founders, marketers and aspiring entrepreneurs in Web3.0

This article was first published on Mirror.xyz the fully decentralised writing platform where you own the content. This post has been created as 100 limited edition copies. Check out the post and the platform here

https://linktr.ee/steenstones