Cameron Chell, Co-Founder of Vuele, on the Role of Community in a

One peculiarity of the decentralized economy is that it creates an avenue for people to be part of something big. As a matter of fact, most decentralized projects are community-driven; hence the reason their success depends largely on adoption, and community-level performance.

In a decentralized economy, participants want to not only feel important, but to also become an integral part of the project at all levels. Often this is achieved through the acquisition of a project’s native currency, which in most cases makes participants eligible to participate in the decision-making processes of a project.

However, there is more to the role of community members in a project than participating in the decision-making process. In other cases, community members are responsible for integral activities such as block generation, validation, and finality, among others.

While this is applicable to most decentralized projects, the narrative is no different for Vuele, a decentralized protocol for streaming and collecting exclusive, limited edition, feature-length films, alongside other NFT collectables. We shared details about the fundamentals of the project in a previous publication, which you can read here.

Advantages of the Decentralized Economy

Picking things up from where we left off, Cameron Chell, Executive Chairman of Currency Work, and co-head of Vuele, further discussed the role of the community during an exclusive chat (insert YouTube link to the interview) with DailyCoin.

According to him, making people feel like they are part of a community is highly important, both to the project, and to the decentralized economy as a whole. In his words, the biggest thing about business today, and a notable advantage of the decentralized economy, is that it’s not really about cutting up the pie, so much as it is about the size of the pie increasing.

In other words, Chell implies that decentralization works to increase the overall size of the pie, and even more so, makes it possible through unhindered access to the community.

In comparison, Chell noted that the decentralized business model works “counterintuitively to the traditional, or old business methodology, where you’re trying to dominate a particular space.” In the same vein, if people lose interest in collaborating, or perhaps stop feeling like part of the community, then they might as well turn against the project.

“Because it’s decentralized and because everybody has such incredible access to the content now. If you don’t get the network effect of as many people as possible being interested in collaborating, and feeling [like they are] a part of that community, then that community will turn against you very, very quickly,”
Chell explained.

When it comes to domination, Chell cited Facebook (NASDAQ:) and Google (NASDAQ:) as examples, claiming that it was simpler for certain businesses to do so…