Research Summary
The article discusses the evolution of co-creation in the context of brands and their communities, with a focus on the transition from User-Generated Content (UGC) to User-Generated Products (UGP). It highlights how Web3 technologies can reshape how value is created, shared, and distributed on the Internet. The article also explores the concept of ‘Open Corporations’, where brands build products alongside their communities and reward them accordingly. It emphasizes the role of tokens in facilitating human coordination and improving attribution in the co-creation process.
Actionable Insights
- Embrace Web3 Technologies: Brands should leverage Web3 technologies to facilitate co-creation and reward their communities, fostering a more equitable distribution of value.
- Adopt the ‘Open Corporation’ Model: Brands should consider transitioning to an ‘Open Corporation’ model, where products are built alongside the community, rather than behind closed doors.
- Utilize Tokens for Coordination and Attribution: Tokens can be an effective tool for coordinating co-creation efforts and attributing value to community contributors.
