Motivation
Why Web3 Attention Economy is the Doorway for Mass Adoption
'Attention Economy' has been the backbone of internet commercialization. Previous generation of the economy had been powered by social behaviors and built around influencer-follower relationship by social media platforms (such as Facebook, Twitter, Youtube etc). The implementation can be abstracted into 3 layers:
Traction Layer: Content creators (aka. Influencers) creates User-Generated-Contents (UGC) which attracts audiences (aka. Followers); conversely audiences select contents that interest them to pay attention to, which generates behavioral data. Such social behavior aggregated enormous internet traffic; each of the leading social media platform has over 2 billion Daily Active Users.
Data Layer: Audiences' behavioral data is logged on centralized servers and analyzed by algorithms to produce preferential datasets that are commercialized by centralized social media platforms, primarily in the format of advertising (users are grouped based on their online preference and are served with hyper-targeted ads paid by advertisers). By 2021, digital advertising revenue has reached 521 billion USD, which is the largest
Monetization Layer: Centralized social media platforms share around 35% of the revenue (generated from advertising) with content creators (aka. influencers), while the audiences who generate the attention data get NO monetary reward.
The status-quo implementation of Attention Economy is based on a feudalism structure with centralized traction, abduction of personal preference data and unfair distribution of profit. And these issues are precisely what a Web3 implementation can solve, which constitutes the fundamental MOTIVATIONS of Parami Protocol.
Decentrally-Governed and Community-Based Tractions MUST be retained.
Data Sovereignty MUST be returned to users.
Monetization via user data MUST be fairly distributed back to users.
Solution to A Much Bigger Problem - Mass Adoption of Web3. The success of Web3 can also be measured by Traction, Data and Money. A "Fat Protocol" that governs an economy that mirrors mass user attention and monetizes the attention data owned by users, would become the incentive engine for the adoption for Web3.
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