Community is about ownership and it has some skin in the game. Whether that stake is economic or not I think a non-economic stake can be a much bigger motivator.
I like this definition because it captures the essence of the crypto community.
To identify the community there are three types of stakeholders:
- Users — who can utilize a network for its intended purpose
- Builders — whoever develop, maintain, or contribute to the network
- Speculators — who purchase the crypto assets to make a profit.
Decentralized networks are open and permissionless, here the communities will always comprise these groups, you should be able to characterize your stakeholders into one of these groups.
Most people agree that only users and builders and not speculators are indispensable for the long-term health of the decentralized network. I’ll dive into the role of speculators. I, a credible community-building strategy, have the highest priority.
Decentralized networks without builders will not be able to maintain or upgrade their protocol. Those without users don’t have a reason to exist in the first place.
The cryptocurrency community has had the role of speculators for years. . However, the speculators have caused projects to prioritize the wrong things at the expense, and they deliver a useful network.
In the early days of crypto community building. The field was growing at a rapid pace. Before the projects start taking it more seriously and devising the community development strategies. One thing that measuring community strength is difficult to do.
The community metrics are game-able and they are incomplete.
We can accurately quantify the community strength. Several projects working on these problems, most in the data and CRM space, have solved similar problems in the past and we have some excitement for the future.