Adding tokens isn't just about money -- it provides a lot of features that simple money doesn't.
For example, each token may have voting power, allowing users (and more so power users) to have a say in the decision making of the product. Holding tokens (versus selling them) could also come with extra VIP privileges (similar to a rewards system). The point is to reward users for providing content, not just in money but also a say in the platform.
I agree with you that people will create content for free. But I think there is still a massive audience that could provide great content thats left out on the sidelines because there is no other motivation.
Why is youtube so much bigger than reddit? Youtube is literally an ecosystem -- where successful youtuber's have set up great partnerships outside of youtube due to their content. Individuals have built a career on youtube, something not possible on a free model like reddit.
"Partly this is not good - lots of content on YouTube for example is kind of cookie cutter attention getting spam type stuff. --> there may be ways to combat this, if the algo deciding how to distribute MU tokens is efficient. But if not, and this is the trade-off in building a massive community like Youtube that provides insane amount of knowledge to the world, then is worth it (imo).
For example, each token may have voting power, allowing users (and more so power users) to have a say in the decision making of the product. Holding tokens (versus selling them) could also come with extra VIP privileges (similar to a rewards system). The point is to reward users for providing content, not just in money but also a say in the platform.
I agree with you that people will create content for free. But I think there is still a massive audience that could provide great content thats left out on the sidelines because there is no other motivation.
Why is youtube so much bigger than reddit? Youtube is literally an ecosystem -- where successful youtuber's have set up great partnerships outside of youtube due to their content. Individuals have built a career on youtube, something not possible on a free model like reddit.
"Partly this is not good - lots of content on YouTube for example is kind of cookie cutter attention getting spam type stuff. --> there may be ways to combat this, if the algo deciding how to distribute MU tokens is efficient. But if not, and this is the trade-off in building a massive community like Youtube that provides insane amount of knowledge to the world, then is worth it (imo).