I found an article that goes on a deep dive into a topic that has effected us all from Steemit, through Blurt and Hive.
Phase 1: An exclusivity-based community is build using a social token whereby membership requires possessing a certain number of tokens.
Phase 2: Early entrants to the group acquire tokens and therefore the token appreciates. New entrants also reinforce the idea that the group is exclusive and socially valuable and therefore the exclusivity increases for a time.
Phase 3: At some threshold (depending on the group) the continued growth of new members starts to decrease the social utility and exclusivity of the group. However, the token price rises as new members are forced to acquire tokens.
Phase 4: Ultimately new members are incentivized to recruit new members to ensure that the token appreciates. However, at a large enough size, new members result in diminishing returns for exclusivity value. At this point, the token appreciates and peaks at some member headcount.
Phase 5: Members sell the token for profit or because of decreased exclusivity/utility. Eventually, the community reaches some equilibrium before continuing the cycle again.
Acknowledging this issue "The Double Edge Sword of Exclusivity" could lead us to new heights on this platform, that even hive could not reach. The diminishing returns of the Hive engine tokens have made me reconsider my positions on those tokens as I am in the process of leaving.
Unfortunately, there are diminishing returns to growing an exclusive community. More people generally means less exclusivity and therefore less social value. Membership in exchange for monetary value is the most common form of exclusivity. Country clubs, events, and subscriptions are all forms of exchanging monetary value for exclusivity. Some aspects of membership are fleeting (e.g. events) while others are recurring (e.g. membership dues).
I personally don't think freedom of expression is exclusive to anyone, so seeing as Blurt has not selected any certain niche to conform to, that gives us a lot of potential.
The cosmos Airdrops are potential more exclusive, but with that all being done through bridges and interoperability, it doesnt subject Blurt to as much scrutiny as the Hive Engine tokens.
What do you think? (Comment Below)
Source: https://messari.io/article/the-double-edge-sword-of-exclusivity
Original Content:
https://twitter.com/gaby_goldberg/status/1432697142502637569
- gaby_goldberg
