Introducing Anti-rival NFTs – the Streamr Acknowledgement Token

Introducing Anti-rival NFTs - the Streamr Acknowledgement Token

The ATARCA project is planning to introduce Proof of Contribution and Proof of Skill NFTs to the Streamr Community to acknowledge the contributions of community members. These NFTs can either increase in value by being shared, or get diluted by their original owners through sharing.

The idea for the NFTs comes from the ATARCA project that is researching anti-rival compensation and accounting methods for the digital age.

An anti-rival good gains value the more it is being used. For example, the multiplayer game Fortnite, is getting better, the more users are joining. And in general the internet is getting better, the more users there are, since more value is being created. In comparison, any depletable goods, such as fish in a lake or coffee in a pot, lose their value once used, and are therefore rival.

The ATARCA project tries to solve the question of how to compensate anti-rival goods.

One pilot project that the ATARCA project now aims to roll out over the course of this year is the Streamr Acknowledgement Token. The idea behind the token is that open source projects, such as Streamr, thrive when a community is formed around them. They are anti-rival in nature: the more contributors, the better the project. However, these contributions, especially non-code contributions, receive little recognition. ATARCA aims to compensate that through a new type of NFT-a shareable NFT.

An NFT is usually just held by one wallet. A shareable NFT can be held in several wallets, similarly to an MP3 that is being shared through file-sharing. You can have an MP3 on your computer, but if you share it with a friend, you don’t lose that MP3.

ATARCA proposes an acknowledgement token for Streamr Network contributors. This NFT can be used by rewarding community members with a proof of contribution, but also as a proof of skill. For example, if someone writes a blog on a given topic, the NFT proves that they have knowledge on a given topic.

Proof of Contribution

In the Proof of Contribution scenario, any user is able to share an NFT after it is discovered. The meaning of this sharing is to express further endorsement of a contribution. E.g. if someone has received an NFT for a blog, then this person can also re-share that NFT to show their acknowledgement for someone else’s contribution, without loosing their initial acknowledgement NFT. The idea here is that the more an NFT is shared the higher the value

Proof of Skill

Under the Proof of Skill scenario, only the original NFT receiver can share it. By sharing, he splits the acknowledgement he has received. Thereby, the value is being diluted, the more the NFT is shared.

In both cases, the NFT should be non-tradable for the original author; meaning, it is not possible to sell the fact that you have a certain skill. Instead of selling, the assumption is that the more an NFT is shared, the higher the recognition by the audience.

Next Steps

The pilot will start in Q3 of 2022 to test drive these ideas. The concept of the pilot still does need refining, so we are very curious to hear feedback from the community about what you think about being rewarded through NFTs for your community contributions?

Join our Discord and let us know!

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