Web3 relies on participatory economics, and that is what is missing — Partici...
Web3 needs to reframe around participation in terms of technology, architecture, design and talent to achieve a decentralized internet. Web3 is hailed as a technology paradigm that is fueled by the creator economy and is in the future, or rather, the next evolution of the internet. As we draw evolutionary comparisons of the technology that underpinned everything from information consumption to content creation, Web2 contributed an unparalleled economic growth and represented a significant era in human evolution with new ways to work, consumer information and progress in human civilization.....
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Online communities that develop organically are the holy-grail of Web3 projects. Not only are they an indication of the strength of a virtual platform, but represent a cornerstone in the formation of social and economic immersion. While the web3 metaverse industry still relies heavily on token-incentives for user interaction, Upland is emerging as a unique platform where players form communities in a specific (virtual) geographic location. This trend has been discussed theoretically by crypto’s modern-day political philosophers. In his 2022 groundbreaking book The Network State, Balaji....
CNBC recently asked, “How bad would it be for the economy of the Philippines if remittances were to dry up?” They proceeded to sign economic indications that this is indeed the route that the Philippine remittance market is headed down—slowing growth in remittances from key remitting markets, such as the U.S., elsewhere in Asia, and other regions. Another fundamental shift in economics pointed to by CNBC: The Philippines appears to be shifting from an economy that relies on sending labor abroad to one that employs labor at home—the proof of this argument is in the booming BPO industry. The....
OVR has decided to upgrade its token economics to make its own tokens more rare and valuable.
Last May, the OVR team burned about 1 million OVR tokens to celebrate the first six months of the project. Now it is announcing an exciting decision to make token burn an integral part of its token economics.
OVR’s token economics plan
On November 1, a full-fledged token burn program was officially kicked off.
The project team has decided to take 50% of the revenue generated from the ongoing sale of OVRLand on a monthly basis and manage it in the following....
What financial services mean in the Metaverse: A closer look into the process of monetization in the Metaverse — the categories of business “of” and business “in” models. In a previous article, I discussed the evolution of Web3 economies and current volatility, focusing on the participatory nature of Web3, which is the foundational technology enabling the creator economy. The term “metaverse” — meta and universe — often describes the anticipated future iteration or evolution of the internet powered by Web3 technologies like blockchain and decentralized resource distribution and consumption....
Professor Michael Mainelli is executive chairman of Z/Yen Group and principal advisor to Long Finance. His latest book, The Price of Fish: A New Approach to Wicked Economics and Better Decisions, written with Ian Harris, won the 2012 Independent Publisher Book Awards Finance, Investment & Economics Gold Prize. In this special feature, Mainelli explores how distributed ledgers and blockchains could fully modernise an industry that still relies heavily on paper. In April 2015, Lloyd's of London launched the Target Operating Model (TOM) project. TOM is a central body responsible for....