Bankless 101 - The Ownership Economy | Li Jin
21 snips
Jan 17, 2022 
Li Jin, co-founder of Variant and a creative force as a painter and writer, shares her insights into the Ownership Economy. She discusses how Web3 is redefining creativity, allowing everyone to become both creator and owner. Li emphasizes the shift from attention-driven models to community ownership and the potential of NFTs to create authentic digital assets. The conversation also touches on the challenges creators face, the importance of direct monetization, and how cryptocurrency can address wealth inequality, paving the way for a third renaissance in the arts.
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Creator vs. Ownership Economy
- The creator economy and ownership economy are distinct but overlapping concepts.
- The creator economy predates crypto, focusing on content creation and monetization, while the ownership economy uses crypto to give users ownership in platforms.
Phases of Economies
- The creator economy has evolved through phases, from early internet content creation to creators as independent businesses.
- The future is the community economy, with blurred lines between creators and fans, collaborative content, and shared value.
Early Internet Issues
- In 1996, Bill Gates predicted the internet's potential but foresaw challenges in content creator monetization due to limited users and revenue models.
- Web2 platforms initially addressed these challenges by providing aggregation and monetization tools, connecting creators with audiences.