Wikipedia remains the most popular open encyclopedia, despite its contributors doing it for free. One might think that a competing platform where contributors are remunerated for their work would be much more successful. However all attempts have failed. And Molly White, a long term Wikipedia contributor thinks adopting web3 will lead to the same outcomes:"People start making stupid decisions when they are paid. .. Monetizing things just shifts the dynamics in enormous ways."Wikipedia creators are on a holy mission and getting paid will lower their sense of meaning.

Wikipedia, the downsides of monetary incentives & web3

web3 is not the universal panacea. People's incentives are more complex than just simple tokens, as this Wikipedia author highlights. 

Q&A with Molly White of Web 3 Is Going Just Great

philosophy

Philosophy

crypto

Cryptocurrency

education

Learning & Education

Why you can't rebuild Wikipedia with crypto 

Social tokens are tokens issued by individual creators or communities that enable community members to collaborate and share ownership in the value created together. They can be earned as rewards for contributing to the group & can grant access to chat group or voting on community decisions. Social tokens can be used to represent a wide range of access rights, from a person’s time, access to an exclusive group, or partial ownership of a community treasury.

Social Tokens

<ul><li><a href="https://mobile.twitter.com/bramanathan/status/1220739081946034176">Reuben Bramanathan </a>and <a href="https://twitter.com/dApp_boi/status/1088656981307445250">Matthew Vernon (dApp_boi) </a> tokenized blocks of their time where one unit could be redeemed for one hour of consultation</li><li>Income Sharing Agreements (ISAs), where individuals tokenized the rights to % of their future income. </li><li>The Grammy award-winning recording artist <a href="https://twitter.com/rac/status/1311395812279087104?lang=en">RAC </a> gave token holders access to a private Discord group and early access to merchendise.</li><li>To join <a href="https://www.fwb.help/">Friends with Benefits (FWB) </a>Discord, a community of Web3 artists, one must have a minimum number of FWB tokens.</li></ul>

Examples Of Social Tokens In Use

A concept that's connected to NFTs or DAOs, but different. 

Social tokens are tokens issued by individual creators or communities that enable community members to collaborate and share ownership in the value created together. Social tokens can be earned as rewards for contributing to the group and can be used for purposes such as granting access to a chat group or voting on community decisions. “Social token” is a broad term that encompasses personal tokens (formed around an individual), community tokens (formed around a community), and creator tokens (formed around a creator).


moneyandinvestments

Money & Investments

A beginner's guide to social tokens

Layer 1 blockchains, aka L1, are focused on foundational elements like consensus & validation. L2 are chains built on top focused on scaling & speed.Balaji makes the argument that L0, or the ideas in people minds, the ideology they adhere to, is the most important layer. Because the ideology enables the technology.Think of the L0 as the mental software that runs on our brains. It manifests in the laws we pass and those are influenced by philosophy of each individual.

L0- the legal layer

<ul><li>Focus subnational & international: thinking about nations is not enough. Focus on specific states, cities, or think globally.</li><li>Gain internal alignment first. Rough consensus over the future and avoid petty Twitter fights.</li><li>Write legislation: it's time for developers to start writing the code of the laws.</li><li>Focus on distribution</li><li>Get the attention of politicians and get small steps fwd: make Bitcoin legal tender or support DAOs.</li><li>Be globally mobile: Rent instead of buy, no Lambo, live so you can move at any time if the state turns against you.</li></ul>

How to change the crypto laws

In the world word you had a few players, major newspapers & academia that dictate the news. Social media was an advancement but because they are centralised, the old forces put pressure on the management of companies like Facebook to align to the dogma through censorship.The solution is to evolve to decentralised social networks. Free, censorship resistant platform are important for changing the laws.

From centralised to decentralised media

The biggest barrier to the decentralized crypto future is opposition from the government. Balaji proposes we take this seriously and think of it as Layer 0.

artsandculture

Society, Arts & Culture

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This account is managed by the Solana Foundation.


Solana

Solana Breakpoint 2021: Talk by Balaji Srinivasan

CryptoPunks are collectible pieces of crypto art, represented by NFTs on the Ethereum blockchain. The CryptoPunks are a collection of 24x24, 8-bit-style pixel art images of misfits and eccentrics. There are exactly 10,000 of them, all with unique features.<ul><li>As one of the first famous NFT projects, they inspired a lot of crypto artists and even the development of the ERC-721 token standard for digital collectibles. </li><li>The project became more popular in 2021 after some CryptoPunks were sold for millions of dollars, making them some of the most expensive NFTs.</li></ul>

What Are CryptoPunks?

sciencefiction

Science Fiction

10 things to know about CryptoPunks, the original NFTs | Christie's

Chainlink is one of the first networks to allow the integration of off-chain data into smart contracts.Managed by a global, decentralized community of hundreds of thousands of people, the Chainlink Network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance, and gaming ecosystems.

What Makes Chainlink Unique?

Chainlink is the most widely used oracle solution for securely connecting smart contracts to the real world. With Chainlink, developers on any blockchain can access tamper-proof, high-quality external inputs to enhance their smart contract applications.

What is Chainlink (LINK)?

Chainlink is the most widely used oracle network for powering hybrid smart contracts, enabling any blockchain to securely access off-chain data & computations.

Why you can't rebuild Wikipedia with crypto

A beginner's guide to social tokens

Solana Breakpoint 2021: Talk by Balaji Srinivasan

It's time to
Read like a Pro.

10 things to know about CryptoPunks, the original NFTs | Christie's

CURATED BY

Why you can't rebuild Wikipedia with crypto

A beginner's guide to social tokens

Solana Breakpoint 2021: Talk by Balaji Srinivasan

It's time to Read like a Pro.

10 things to know about CryptoPunks, the original NFTs | Christie's

CURATED BY

It's time to
Read like a Pro.