The True Value of Web3: You Can Take Your Toys and Leave

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Leah Callon-Butler is the director of Emfarsis, a Web3 investment and advisory firm with special expertise in strategic communications. She is also a board member at the Blockchain Game Alliance.

. It seemed straightforward enough. Sign up, create digital goods and build virtual experiences to sell to other players, and get rich. But as many millions of hopefuls have learned, it’s actuallycalling out its exploitative fee structures that prey on the platform’s player base, of which half are purportedly aged 13 or under.

Almost everything in Roblox exists because a player created it, and yet those creators have little to no rights to their crop. While creators do retain ownership of their user-generated content , they also grant Roblox a comprehensive, royalty-free license to use, modify, publicly perform and distribute that content globally. Even if a creator leaves, Roblox retains rights to all content created on its platform indefinitely.

This has always been blockchain’s selling proposition. Be Your Own Bank, Not Your Keys/Not Your Crypto, and so on. These early slogans were highly financialized, since blockchain’s breakthrough feature was digital cash that allowed people to take self sovereign custody of their money. But the crux of the movement has always been about having ownership rights for your property online, so that you – and only you – can decide what to do with it.

 

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