However, this misunderstands the effectiveness of FWB's token design. For example, members do not need to pay "dues" every year. Instead, they need to buy a certain number of FWB tokens to enter - and then hold them to remain a member. Therefore, each member is a part-owner of FWB and can also leave at any time by selling their tokens. Because these tokens appreciate in value with the success or ideals of the club, each member is incentivized to invest their time, ideas, and resources into the club. unrealistic for spammers to join FWB, while in normal circumstances, the popularity of an online social platform would encourage malicious people. Likewise, appreciation means the club has to work harder to earn its continued role in the lives of its members. Finally, smart contracts can be used to directly reward individual members for their contributions, or programmatically welcome new members to the collective even if they can’t afford it.
The role of smart contracts in enabling collectives goes even further. Many of the most expensive NFTs are not purchased by individuals, but by DAOs of dozens of pseudonymous cryptocurrency users who could not possibly spain mobile database purchase them on their own. And with tokens, the entire DAO can decide when these NFTs are sold and at what minimum price, while also managing payments. One DAO is offering venture capital to "prominent female and non-binary cryptocurrency founders." (Disclosure: I am an investor in a DAO platform)
This may seem slightly off-topic for an article on the Metaverse. However, we want it to be easy, fast, and cheap for individuals to organize, fund, and manage projects in the Metaverse. Ideally, we want this to happen outside of gatekeeper platforms, allowing the maximum number of participants to participate and rewarding them. Otherwise, their time, money, and energy will continue to fund new, closed conglomerates.