nonce Classic is a Web3 native accelerator democratizing decentralized technology by investing and accelerating early-stage crypto projects
nonce Classic is a Web3 native accelerator democratizing decentralized technology by investing and accelerating early-stage crypto projects
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When users become owners, community contribution increases which ultimately helps the organization achieve its purpose!
INDEX
Crypto’s moving castle, DAO
Ownership Economy
Concept & Context
What Ownership Economy stands for
Key insights
Conclusion: The future of ownership economy
Have you heard of the film Howl’s Moving Castle? In the film there is a girl and boy. Howl who is a handsome wizard cursed by a witch and Sophie who has lost everything she ever liked. The film is also known for its famous scene loved across all ages, where its two protagonists meet and take a walk in the air.
I watched Howl’s Moving Castle again recently, and seeing the castle with many machines attached always moving towards a final destination reminded me of a DAO. In Howl’s moving castle people neglected by the world (Sophie), people who have lost their strength (the witch), and people who have been cursed and have an assignment to complete (scarecrow, Howl) gather together, and when they join their forces the castle gains the power to go forth.
Then, let me ask you. Where are DAOs, who have onboard countless crypto projects, going?
An interesting phenomenon that is also the subject of this article has been happening on the internet since 2009. A series of somewhat unusual events began to arise in different regions throughout the world sporadically. At first glance ownership economy seems to be a combination of two common words, and a term floating around some part of the internet. But if we believe the countless DAOs moving towards Web 3.0 are going in the direction of ownership economy then its importance becomes an entirely different matter.
Across all time periods, the form of consumption has not been a spotlighted discipline. As a result, patterns of ordinary consumption are usually percieved to rely on one’s unconscious. It is to the extent our modern society considers our life itself to be consumption. As evident in every society, those who live in rural areas live on a time crunch and thus cannot afford the leisure to think from various perspectives. These consumers go about their day without accurately understanding consumption. All the while, their data on patterns of consumerism is collected from major platforms and used as a marketing tool. Thus now we question this repetitive cycle.
Ownership economy speaks of a positive societal change in which the tools of monetization are distributed across a wider range. Owning what you create, you controlling the code you have written, and having ownership of the platform that you use albeit be a small part.
What do you think? Would you like to go on a walk in the air towards ownership economy with us?
Our previous generation produced a content business that relied on user-created content, but the next generation is predicted to opt for a content economy that is owned by the user. Yet this term is so unfamiliar that we may continue to dismiss its importance considering it to be “nonsense”.
However, while some simply ignore the potential contained in this word, there are already 15,000 projects based on ownership economy continuing to expand their scope from a wide spectrum of social networks, investment DAOs and trading protocols.
The next generation of the internet will opt for ownership economy. According to data from CoinMarketCap, as of April 26th, 2022, the market capitalization of more than 19,000 tokens was $1.76 trillion. For comparison look at the the global market whose market capital is over $100 trillion.
Various crypto projects are actively working as DAOs to accomplish this vision of ownership economy. As I introduced in my previous article, many crypto projects rely on the structure of DAO. When the trust between DAO members grows to reach a certain point, the DAO moves towards the form of ownership economy at a fast pace.
Of course, it goes without saying that a clear mission and decentralized operation must be prioritized when setting up a DAO. In some respect, the most distinguishable quality of DAO culture is one’s ability to express disagreement. Looking at various DAOs I have felt the need to get used to methods of communication that can openly and actively accept others’ expressions of inconvenience or disagreement. Only that way the best decision can be made without offending everyone.
Then what are the obstacles that hinder DAOs from running towards ownership economy?
Key insights
User ownership must be designed to be sustainable
The design of its tokenomics will determine a happy ending for users and the project.
User ownership can make all of us look posh!
User Ownership becomes the core motivation for contributors
DAOs who are carrying crypto projects are moving towards something very quickly. We cannot yet know its final destination. But one thing is certain. Ownership economy has opened new horizons for various software products.
Web 3 began with layer 1 blockchain. Just as many internet revolutions began with developers. Didn’t most of our internet history move in the direction that developers intended? Likewise, ownership economy will open a new world for innumerable Web3 projects and software.
Disclaimer: For general information purposes only and may not be used for commercial purposes without written consent. Should not be considered legal or investment advice and any use of it is at the user's own risk. nonce Classic shall not be liable for any loss or damage arising from the use of this information.
Copyright 2022. nonce Classic. All Rights Reserved.
Join the nonce Classic community.
Author | Sophie meme maxi, content creator, writing about NFTs, DAOs
Accelerator | nonce Classic We connect trustworthy people building trustless technology
Translation: Esther Kim
When users become owners, community contribution increases which ultimately helps the organization achieve its purpose!
INDEX
Crypto’s moving castle, DAO
Ownership Economy
Concept & Context
What Ownership Economy stands for
Key insights
Conclusion: The future of ownership economy
Have you heard of the film Howl’s Moving Castle? In the film there is a girl and boy. Howl who is a handsome wizard cursed by a witch and Sophie who has lost everything she ever liked. The film is also known for its famous scene loved across all ages, where its two protagonists meet and take a walk in the air.
I watched Howl’s Moving Castle again recently, and seeing the castle with many machines attached always moving towards a final destination reminded me of a DAO. In Howl’s moving castle people neglected by the world (Sophie), people who have lost their strength (the witch), and people who have been cursed and have an assignment to complete (scarecrow, Howl) gather together, and when they join their forces the castle gains the power to go forth.
Then, let me ask you. Where are DAOs, who have onboard countless crypto projects, going?
An interesting phenomenon that is also the subject of this article has been happening on the internet since 2009. A series of somewhat unusual events began to arise in different regions throughout the world sporadically. At first glance ownership economy seems to be a combination of two common words, and a term floating around some part of the internet. But if we believe the countless DAOs moving towards Web 3.0 are going in the direction of ownership economy then its importance becomes an entirely different matter.
Across all time periods, the form of consumption has not been a spotlighted discipline. As a result, patterns of ordinary consumption are usually percieved to rely on one’s unconscious. It is to the extent our modern society considers our life itself to be consumption. As evident in every society, those who live in rural areas live on a time crunch and thus cannot afford the leisure to think from various perspectives. These consumers go about their day without accurately understanding consumption. All the while, their data on patterns of consumerism is collected from major platforms and used as a marketing tool. Thus now we question this repetitive cycle.
Ownership economy speaks of a positive societal change in which the tools of monetization are distributed across a wider range. Owning what you create, you controlling the code you have written, and having ownership of the platform that you use albeit be a small part.
What do you think? Would you like to go on a walk in the air towards ownership economy with us?
Our previous generation produced a content business that relied on user-created content, but the next generation is predicted to opt for a content economy that is owned by the user. Yet this term is so unfamiliar that we may continue to dismiss its importance considering it to be “nonsense”.
However, while some simply ignore the potential contained in this word, there are already 15,000 projects based on ownership economy continuing to expand their scope from a wide spectrum of social networks, investment DAOs and trading protocols.
The next generation of the internet will opt for ownership economy. According to data from CoinMarketCap, as of April 26th, 2022, the market capitalization of more than 19,000 tokens was $1.76 trillion. For comparison look at the the global market whose market capital is over $100 trillion.
Various crypto projects are actively working as DAOs to accomplish this vision of ownership economy. As I introduced in my previous article, many crypto projects rely on the structure of DAO. When the trust between DAO members grows to reach a certain point, the DAO moves towards the form of ownership economy at a fast pace.
Of course, it goes without saying that a clear mission and decentralized operation must be prioritized when setting up a DAO. In some respect, the most distinguishable quality of DAO culture is one’s ability to express disagreement. Looking at various DAOs I have felt the need to get used to methods of communication that can openly and actively accept others’ expressions of inconvenience or disagreement. Only that way the best decision can be made without offending everyone.
Then what are the obstacles that hinder DAOs from running towards ownership economy?
Key insights
User ownership must be designed to be sustainable
The design of its tokenomics will determine a happy ending for users and the project.
User ownership can make all of us look posh!
User Ownership becomes the core motivation for contributors
DAOs who are carrying crypto projects are moving towards something very quickly. We cannot yet know its final destination. But one thing is certain. Ownership economy has opened new horizons for various software products.
Web 3 began with layer 1 blockchain. Just as many internet revolutions began with developers. Didn’t most of our internet history move in the direction that developers intended? Likewise, ownership economy will open a new world for innumerable Web3 projects and software.
Disclaimer: For general information purposes only and may not be used for commercial purposes without written consent. Should not be considered legal or investment advice and any use of it is at the user's own risk. nonce Classic shall not be liable for any loss or damage arising from the use of this information.
Copyright 2022. nonce Classic. All Rights Reserved.
Join the nonce Classic community.
Author | Sophie meme maxi, content creator, writing about NFTs, DAOs
Accelerator | nonce Classic We connect trustworthy people building trustless technology
Translation: Esther Kim
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