The winner is clear:
If your brand has built a community, the future is bright.
Metcalfe’s Law half explains why:
Put simply, the value of your network is proportional to the square of its number of users.
What it doesn’t take into account is ENGAGEMENT.
ENGAGEMENT is why small communities can have huge power and influence. Way bigger than their size suggests.
To get our heads around all this weird blockchain stuff, this may help.
Right now, everybody has a website, but one day soon, every brand will have a community token.
Then you will be able to reward the attention of your community with your currency.
YES, YOU WILL HAVE YOUR OWN CURRENCY.
To give you a real-world example, imagine if I go for a run in my Nike’s or my Adidas trainers, the trainers will know I have run 7 miles, and will then reward me accordingly through my Nike or Adidas coin.
When I go to buy another pair, I will get a special deal because I did the miles.
My effort to do the miles with my trainers will be rewarded.
SIT WITH THIS FOR A WHILE. IT’S A BIG DEAL.
The loser is also clear:
“The entire world’s business models are built around middlemen who provide discrete service layers around authentication, transfer and custody. Take, for example, real estate; for you to buy and sell a property you will end up using estate agents, lawyers, bankers, surveyors and maybe a notary. Each one of these takes a fee for their service.
Let’s imagine that real estate is now on a blockchain (which is happening), then all the trust, transfer and custody layers are unnecessary. The deeds, plans and the planning permissions are immutably recorded allowing for the near-instantaneous settlement of property transactions as everything is verified on-chain.”
You know what to do.
Build your community.
And do it as quick as you humanly can.
A change is afoot.