On The Other Side ep 47 - Media Ownership + Web3 Social w/ Mark Beylin
Primer: Mark Beylin is back on On The Other Side. This time round, he discusses social tokens, DAO workers, and how Myco could be used to build communities and extend the reach of content creators.
Myco
A social network that enables people to co-produce media
Facilitating groups of people coming together
Is one of the co-founders
Social Tokens
In late 2020, a lot of people were launching social tokens
Was shocked because the assumption is that social tokens should only be launched after the community exists in some form
Many of them were a success and valuable communities were built
Should Social Tokens Be Traded?
Two schools of thought on community tokens:
Tokens are held by members who earned them
Tokens are purchasable by anyone on Uniswap
Tokens could be imbued with revenue rights that trickle down to everyone that helped along the way
“There's no token price, there's no chart. It's just a simple way of sharing money among a group of people who are doing something, and then later on, when you've scaled, when you've been around, then you can start to sell the token.”
- Mark Beylin
Communities Having Ownership But Not A Price Associated With It
Stumbled onto the concept
If you believe in a project, you will find it meaningful and motivating to participate in it and vice versa
The focus on ownership early on is a filter for people with the same values
Unpaid DAO Workers
Some people who are not well off can’t afford to spend time in DAOs in hopes of something in the future
Simultaneously, what builds real upside involves a trade-off between getting a wage vs getting equity
The reality is that anyone who uses Myco has to do it in their spare time
In the future of work, people will be working for many different types of organizations simultaneously
People will start off by contributing to organizations and then realizing that there’s more upside to starting their own
Myco is trying to make it easier for groups to work together
The Media Market Today
Being a creator is lonely
Needs to have mechanisms to make it a multiplayer game
Need diversity of perspectives and contexts to bring in fresh perspectives
Myco is easy to use. Their goal is to invite many different people as possible to co-create media together
“There's so many people trying to make it on Instagram, TikTok, or the podcast. They're all doing it alone. And it seems very obvious that if you could just pair them off into sets of three, they could all come together and produce incredibly valuable media companies.”
- Mark Beylin
Some content creators are afraid of thinking about themselves as media companies
Incentives For Creating Content
Trying to figure out how to reward content creation
Getting paid for good content is not evil
There’s a middle ground where people are extrinsically motivated but their actions are not shaped by the incentives
When slack is created within a system, people stop optimizing so much and begin experimenting
Experimenting is what leads to spontaneity and interesting things on the internet
Is Myco A Social Platform That Communities Exist On Or Is It A Layer Below?
Can technically be both
Has something similar to a Twitter Feed with threaded replies like Reddit
People can share their content in different types of rooms
Different rooms have different privacy layers and roles
Relationship Between Media And Ownership
Thinks that individual pieces of media are not valuable (e.g. a tweet)
Memes are most valuable when they are free
In the context of content, creators own a brand/set of channels
Vibes On Various Social Media Platforms
Some people use TikTok to become better versions of themselves
People are more cynical on Twitter compared to TikTok
Some people are performing on Twitter, blurring the lines between performance art and reality
There are private spaces in Discord. With anonymity, people default to talking crap about one another
The platform shapes the user who is using it
A long essay could be broken down into a tweet thread
The tweet thread could be repurposed into Instagram images and, subsequently, TikTok
Where Can People Learn More About Myco?
Go to myco.space
Sign up, post your introduction of who you are and how you found us
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