Tokenomics Beyond 2023: Why Now More than Ever Before

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Why do we need tokenomics?

I was one of the very first to note the importance of token economics, but also the potential that tokenomics brings to revolutionise multiple industries and society.

The innovations behind Ethereum gave rise to the creation of token economies that can align complex incentives. Then many other projects followed. From new Layer 1 solutions, like Solana and Avalanche, to Layer 2s, like Polygon and Optimism, and interoperability blockchains like PolkaDOT and Cosmos.

This has made tokenomics ever more important. What used to be a fringe interest in 2018, has now become a recognised area of expertise. Through this blog I made sure to present case studies, opinions and methods which benefitted the whole community. Some of these articles include:

Token economics in 2023 and beyond

I thought it would be good to revisit the original article published in 2018. No-one questions the importance of tokenomics. However, the answer to the question “why do we need tokenomics?”, is more complicated than it was four years ago. The rise of areas such as DeFi, NFTs and the metaverse has created a multitude of new opportunities, and challenges which we need to deal with.

This is why I submitted a new article at the Journal of the British Blockchain Association called: Tokenomics beyond 2023: Why now more than ever.

So, why do we need tokenomics in 2023 and beyond? In the article I explain what was different in 2018, vs what is different now, and what factors will dominate the Web3.0 narrative in the next few years. In brief, I summarise the 6 reasons in the following list:

Improved incentivisation mechanisms
Automation of real-world financial mechanisms and metrics
Unlocking latent demand
Interoperability incentives
Interconnectedeness with the physical world
Ensuring robustness and inspiring investor confidence.

If you want to read the full article make sure to go to the official link: Tokenomics beyond 2023: Why now more than ever

Want to learn more about tokenomics, Web3.0 and blockchain?

Tokenomics is one of the most exciting areas of Web3.0. It can really make or break your project. If you are interested in this area, make sure to get in touch, since I am offering services in both design and auditing.

Also, make sure to check out Tesseract Academy’s tokenomics course, and questionnaire.

Looking forward to hearing from you soon!