The fundamental idea behind #web3 is about the alignment of incentives among the participants. But designing incentives to create #networks is complicated.
👉 This is the reason many the Web3 projects are not delivering any value or building real #communities.
✅ Game Theory to the rescue
There is a whole sub-discipline of economics and #GameTheory dedicated to studying how to design protocols that encourage rational actors to behave in socially desirable ways: it is called ‘Mechanism Design’.
Mechanism design is a field in economics and game theory that takes an objectives-first approach to designing economic mechanisms or incentives, toward desired objectives, in strategic settings, where players act rationally. Because it starts at the end of the game, then goes backwards, it is also called reverse game theory.
#Bitcoin is a good example of #MechanismDesign:
✅ Bitcoin´s network aligns incentives between three parties: users, developers and miners.
✅ Its a community of stakeholders interested in staying together for different reasons
✅ Each of them finds the activity performed by the others aligned with their own interests.
👉 The only way for Web3 projects to succeed is to follow this very same approach. No player has a purely extractive role, and all participants benefit somehow from each other´s actions.