David Phelps (Jokerace) on Incentivizing Participation and Co-creation (EP.456)
Oct 2, 2023
auto_awesome
David Phelps, co-founder and CEO of jokerace and a prolific writer, discusses alternative ways to incentivize users and distribute decision making power, the limitations of tokens for governance, and the power of co-creation in unlocking creativity. They also delve into the concept of being in a post-token world and the importance of personal contribution and involvement in co-creation.
Co-creation enhances user engagement and satisfaction by giving them the opportunity to leave their imprint on projects.
Proto-apps blur the lines between apps and protocols, enabling seamless navigation and collaborative app development.
Content blockchains offer a cost-effective and secure solution for storing and verifying digital content, enabling broader access and supporting creators' recognition.
Deep dives
The Power of Co-Creation in the Crypto Space
Co-creation is a powerful concept in the crypto space, enabling users to actively contribute and collaborate in the development of projects. One example is the co-creation of music tracks with artists like Fred again, where users are invited to complete and remix half-completed tracks. This interactive experience fosters a sense of community, allowing fans to co-create with their favorite artists and gain exposure for their own work. Similarly, contests and prompts that invite users to provide input and ideas for projects are forms of co-creation that promote dialogue and collaboration. The Century of the Self documentary series illustrates the value of co-creation, highlighting the importance of individuals feeling ownership and attribution in their contributions. Just as Betty Crocker's cake mix saw a surge in sales when housewives were required to add an egg and contribute to the final product, co-creation enhances user engagement and satisfaction by giving them the opportunity to leave their imprint on projects.
Rethinking Apps and Protocols: The Rise of Proto-Apps
The distinction between apps and protocols is evolving, with the emergence of proto-apps that blur the lines between the two. Examples like ChatGPT and OpenAI's use of frontend platforms demonstrate the shift towards gateways that provide access to a range of services and protocols. Proto-apps allow users to navigate various app functionalities seamlessly, creating a more integrated and expansive experience. Furthermore, the concept of user-generated apps, such as Swap with its hooks, showcases the potential for individuals to build on existing services and enable automatic execution of transactions. This innovative approach to app development fosters a more collaborative and inclusive ecosystem where users can remix and build upon each other's work, enhancing composability and enabling broader participation in the creative process.
The Promise of Content Blockchains: Unlocking Co-Created Content
Content blockchains, exemplified by projects like Arweave, hold great promise in supporting co-creation and distributed content storage. Unlike traditional transaction-oriented blockchains, content blockchains focus on the verification and retention of non-financial data transactions. By taking advantage of the unique characteristics of content transactions, these blockchains can offer a more cost-effective and secure solution for storing and verifying digital content. This opens up opportunities for broader access to user-generated content, remixing, and attribution through smart contracts. Additionally, content blockchains can enable the establishment of provenance, ensuring that creators receive due recognition and royalties for their contributions. Ultimately, content blockchains contribute to the vision of a more transparent, decentralized, and collaborative content creation and distribution ecosystem.
Building Engaging Communities through Contest-Based Co-Creation
Contest-based co-creation is a powerful tool for fostering engagement and collaboration within communities. Platforms like Joke Race facilitate the creation of contests where users can submit their work and have it evaluated by their peers. This model extends to various industries, such as marketing, music, and governance, allowing participants to contribute ideas, remix existing content, and showcase their skills. Co-creation contests provide a way for creators to interact with their communities, receive valuable feedback, and build relationships. By incentivizing participation and providing recognition, these contests create a vibrant ecosystem of users actively contributing to the growth and development of projects.
The Value of Financial and Social Incentives in Co-Creation
Co-creation thrives when accompanied by both financial and social incentives. Financial incentives, such as rewards and royalties, motivate individuals to actively participate and contribute their skills and creativity. These incentives can be distributed through smart contracts, ensuring fair and transparent compensation. However, social incentives are equally important, as they foster a sense of belonging, collaboration, and recognition within a community. Platforms that enable co-creation should aim to create engaging and interactive experiences that allow users to express themselves, connect with others, and build relationships. By combining financial and social incentives, co-creation can flourish and drive the growth of vibrant and productive communities.