Web3 is highly mercenary and we need to change that. How do we solve this?

A thread on building psychological attachment.

1/ What is Psychological Attachment?

It's when users feel an emotional connection that goes beyond the product. It's when a product represents something more meaningful in a users's life.

This is the key to user loyalty, retention, and advocacy.

2/ How to Build Psychological Attachment:

- Create a compelling vision.

- Make the user feel valued and recognized.

- Build an emotional connection through shared values.

- Build a sense of community.

- Stay connected with users and continually demonstrate value.

3/ Users have a greater sense of psychological ownership when they’ve invested time, energy, effort, or money. Offering a sense of agency over a product can also create a sense of connection, through creation, customization, and expression of preferences.

5/ Web2 companies have done an awesome job at building such psychological attachment, and they did so without providing users verifiable ownership over their digital value. 

How can the use of blockchain-base digital assets provide an alternative paradygm?

6/ Blockchains introduce new dynamics to psychological ownership, allowing users to opt out and carry their value across composable platforms. 

Through digital assets, digitial ownership is verifiably assigned to users and enforced cryptographically on a blockchain.

7/ But to foster psychological ownership, product incentives should be contingent on users taking actions that reinforce attachment and build engagement habits, rather than just rewarding users for performing certain economically-driven activities.

8/ If creators and products can engender a sense of psychological ownership among their users, it could mean turning a speculative and mercenary user base into an engaged community that is long-term oriented and places disproportionate value on their relationship to the creator.

9/ With Web3 being an opt-out system, and users assigning greate value to our digital assets, applications will need to tap into psychological ownership to provide greater value.

10/ Building psychological attachment is not a tactic, it's a mindset.

It requires authenticity, genuine care, and consistent effort.

But it's worth it if Web3 is to achieve its full potential.

Loyal customers are the foundation for a sustainable and thriving business.

11/ We've fixed the ownership part, we're developing solutions for the composability part, UI/UX is gradually improving.  

All that's missing is greater pshycological attachments.

12/ This is a summary of Li Jin’s piece “Building Psychological Attachment — Not Just Ownership — Into Web3”. To dive in deeper into the concept, check out the link below:

https://hbr.org/2023/04/building-psychological-attachment-not-just-ownership-into-web3

4/ Familiarity also inspires feelings of ownership, as users develop a connection with the product.

The alignment between the product’s attributes and the user’s self-concept can foster greater psychological ownership and users gravitate to branding that match their self-image.