Author: Ece Turhan (Master in Management & Technology)
Supervisor: Prof. Dr. Isabell M. Welpe (Chairholder of TUM Strategy & Organization)
The Creator & Ownership Economy: Effects of Web 3.0, Blockchain Technology, and Non-Fungible Tokens
💫 The creator and ownership economy has completely changed the career goals of the new generation. It is becoming more and more popular with the evolution of the Internet and the impact of new technologies such as Blockchain and Non-Fungible Tokens (NFTs).
📃 According to Yahoo Finance’s report, over half of Gen Zers (53%) stated that the important thing has meaning in work life. In a study by Morning Consult, 54% of Gen Zers want to become an influencer if the opportunity is presented to them.
🚀 Subsequently, this research aims to show how the new Web 3.0 technologies effects of creator and ownership economy.
Research Method: General to Specific
Interviews are also provided as podcasts: https://soundcloud.com/ece-turhan-992913395?utm_source=clipboard&utm_medium=text&utm_campaign=social_sharing
Summary of the thesis: https://medium.com/@ece_turhan/the-creator-and-ownership-economy-95a3bbd8e0a9
🔑 As economic benefits, full data ownership of the content is seen as a critical benefit. Traceability, authenticity, and transparency provided by NFT seem promising, especially from an ownership point of view. Also, with social tokens, NFT creators, owners, or collectors enable direct control of the engagement. With this immediate engagement chance, they are building their communities without the requirement of any third parties. 🎨As a social benefit, Web 3.0 provides an accessible and decentralized environment where creators for doing what they love. Creators can easily share their content and offer them to the world via the Internet. Interviewees also saw the NFT and Blockchain technology as the future, and they are glad to be part of it. 👀 As concerns, interviewees mentioned that the technology is still emerging and is not entirely decentralized. Interventions are still possible by governments or platform developers. Whether the NFT is unique and traceable, some experienced the copy of their arts as screenshots. There are also some concerns about being careful while using the platforms because of hard utilizations and catfishing. 🎯Potential business models are obtained as unified Web 2.0 and Web 3.0 business models. Add-driven, tipping monetization and subscription-based business models will empower by Artificial Intelligence (AI) and peer-to-peer monetization business models. Like this, the creator and ownership economy will be the favored economy model for the new generations.