A Decentralized Community

Web 3 is new, but that doesn’t mean it’s boring, or it’s only for geeks. And it doesn’t have to be high threshold. We are trying to build a community with creator-end handy tools, evolving forms, functional tokenomy to arouse, inspire, and assist community members to fully express themselves, create consensus, and get rewarded. And all content could be NFT.

HOOH is based on the ideas of creator economy and attention economy, but no longer a platform. We are a community! Consensus is the core, which derives from contents. Content creators have much more power to collect value automatically from their own creations by the smart contract, and have much more freedom in various range of ways to attract audience. Meanwhile profits are also allocated among other community members as long as they have paid attention during reading, engaging, voting, operating, curating…all effort community members make are valuable for the ecosystem. Most things members do in HOOH could make earnings.

Problem About Web2

Platforms are hitting a bottleneck that they are hijacked by the web traffic. Contents need to yield for monetization, which makes tons of good contents overwhelmed in the ocean of traffic, and only extremely few could standout and be really seen by the audience. This would heavily limit the grades of content and downgrade the loyalty of users. However, to keep the users which forms the traffic, platforms have to stimulate users keep creating more interesting content to drag traffic back over and over. This is a paradox for platforms.

Meanwhile, among traditional social networks and creator platforms, the large majority of content creators generate the majority of value but derive no monetary gain. At the same time, the platforms make significant revenues because of the accruing benefits from the creators’ uploads. Only as few as 0.1 are able to make a living from what they create on the social networks. [1]
[1] “The creator economy: what is it and how can brands engage with it?”. The Drum. Retrieved 2 November 2021.

The Web3 Age

As the development of technology that provided opportunities to platforms in last decade, it has been empowering crypto world recently and producing various opportunities and possibilities.

The crypto field develops rapidly. From the first wave of crypto currency represented by Bitcoin to the following prosperity of DeFi, and then the party of NFT, it approaches to common crowds closer and closer. However, there is still a gap. People would have doubts like:

• Why would I hold crypto currency when it’s not endorsed by any government or institution, and there is no use of it except speculation?
• Is DeFi a Ponzi scheme？
• What is the value of NFT besides as a digital collection? What is the use of it?
• ……

Through human history, it is very common to have doubts for new things. There are projects trying to filled this gap and lead people to get familiar with this new world. This is where the model X to earn derives. It tries to solve the problem that a centralized platform has – traffic is allocated solely by the platform which gives the platform too much power. It gets to decide what a user could see, when to see it and where to see it. Users created value, but never really get to earn the value back.

The value comes from consensus. When we surf online, read a piece of content, forward it to friends, leave comments, follow a stranger, or create another piece of content by our own… everything we do is based on consensus and meanwhile enriching it or creating new ones. These are the things we do online every day, which becomes the web itself and provides connotation to it at the same time. Where there is good content attract intensive attention, there is consensus, and there is value.

Possible Solution for Attention Economy

Attention economy exists because attention represents consensus, and consensus generate values. However, as content has grown increasingly abundant and immediately available, attention becomes a resource and one of the scarcest commodities. Each one of us has only 24 hours a day. The web needs attention to form consensus, and thus generate value. Doesn’t it look similar? If no one buys stock A, does A worth anything? On the other hand, if people all love to invest stock B, how could B’s price be not soring? At the end, we will profit if we buy right. Same thing as we spend our scarce attention on the web. It is an investment. Revenues generated by a creation are defined not only by the creator, but also by the attention payers it attracts, just as a stock’s price is defined not only by the company buy also by everyone buying or selling it. Furthermore, engagements to the content may shape it as well, some of them could be seen as co-creators or re-creators. Therefore, attention payers are significant parts of forming values and consensus, which should be awarded as the creators.

In web3, thanks to the development of blockchain technology, allocation of the value generated by consensus need the middle agency, platforms, no more. It could be monetized by smart contracts and in a form of tokens. Every participant in the process of creating consensus, i.e. value, will automatically receive their corresponding reward.