Abstract
The rapid development of blockchain technology has brought transformative opportunities to social media platforms, driving the rise of blockchain-enabled social media (BSM) to address long-standing issues with traditional social media. Unlike traditional platforms with uneven resource allocation and high platform control, BSM redefines user interactions and incentives through a decentralised architecture, token economy and transparent governance model. This study aims to explore the incentive mechanism design in BSM and its impact on user engagement and the quality and quantity of user-generated content (UGC).
Based on Self-Determination Theory (SDT) and the four pillars of innovation framework proposed by Zhan, Xiong and Xing (2023) – Incentive Mechanism Design, Fundamental Technologies, Governance and Operations, and Organisational Structure and Performance – this study adopts a comparative multi-case study approach to analyse four typical BSM platforms (PIXIE, GARI, Cheelee and Odysee). Through this comparison, the study finds that while token rewards, NFT incentives, and decentralised governance are key drivers of user activity and content creation. However these platforms face common challenges in scalability, technical complexity, and balancing short-term and long-term incentives.
This study provides theoretical support and practical guidance for the BSM field by exploring the potential and challenges of blockchain technology in user interaction and incentive mechanisms, analysing the key characteristics of incentive mechanisms on decentralised platforms and their impact on user behaviour, and proposing design principles for optimising the quality and quantity of UGC. The research results provide an important reference for platform developers, policymakers and researchers, emphasising the key role of dynamic and user-centric incentive mechanisms in promoting the development of blockchain-based social media ecosystems.