Somi Arian Podcast: The Tokenomics of X-to-Earn

In this episode, YGG co-founder Beryl Li explains how learn-to-earn projects are incentivized.

The Somi Arian podcast features experts from the business and technology sectors, including fintech, crypto, NFTs, blockchain and AI, while addressing the lack of female presence in these industries. The podcast host, Somi Arian, is a tech philosopher, award-winning filmmaker and entrepreneur. She is the CEO and founder of InPeak, a women-led Web3 education platform.

In this discussion, YGG co-founder Beryl Li shares her insights on guild models, tokenomics, bear markets, crypto development in developing countries, and AI.

The following is an excerpt from the conversation. You can watch the full episode here. 

#72 - Beryl Li: Gaming Evolution in the Metaverse

Somi (14:08): Can you talk me through some examples of how a company would look at creating a token economy around something like that. So let's take a learn-to-earn model, right? I have an educational platform, so let's say if I wanted to incentivize people to learn the things that we teach.

Beryl (14:36): I'm sure that there are different models, and I think we haven't really explored deeply enough. But maybe — one example that comes to mind as we speak — what are the “hottest” skills today? Let's just say, development, like engineers.

If you want to build a website or you want to write smart contracts, smart contract engineers are highly, highly remunerated. They're really expensive. Or UX designers. Really good UX designers are pretty expensive too. So if you have modules where people end up completing them to help them become really competitive in their field, whether they're a UX designer or an engineer, then they earn these rewards. 

But at the end of the day, how do you account for the value of those rewards? That has always been a question. So one potential way to do this, to make it sustainable, is it becomes like an HR tool where when somebody ends up hiring them, the platform gets a fee for revenues, an introduction fee, kind of like an executive search firm. 

But this is for highly-skilled jobs, like for engineers and designers. They could actually earn money from that, and then that could be in the form of rewards for the next batch, and so on and so forth. So long as the platform earns revenue in one form or another, then there's a reason for providing those rewards because it could be cyclical.

You can watch the full episode on YouTube.

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