From whales to minnows: The impact of crypto-reward fairness on user engagement in social media
Publication Date
10-1-2024
Document Type
Article
Publication Title
Decision Support Systems
Volume
185
DOI
10.1016/j.dss.2024.114289
Abstract
In an era where user-generated content drives social media growth, effectively incentivizing contributions remains a challenge. This study explores the empirical impact of a crypto-integrated platform, Steemit, focusing on a system transition designed to enhance fairness in reward distribution. We assess how this shift affects user engagement, specifically through the volume of posts. Our findings indicate that a fairer crypto-reward distribution boosts user-generated posts, though the increase is less pronounced for users with higher capital or reputation. Further analysis reveals the complex dynamics of cryptocurrency rewards and their role in fostering individual contributions and platform growth, while offering financial incentives. The effects of fair distribution are consistent across diverse user groups, highlighting novel incentivization strategies in social media and the transformative potential of integrating cryptocurrencies into reward systems.
Funding Number
NRF-2020S1A5A8044498
Funding Sponsor
Ministry of Education
Keywords
Cryptocurrency, Distributive justice, Social medial, User-generated content
Department
Information Systems and Technology
Recommended Citation
Woojin Yang, Yeongin Kim, Tae Hun Kim, Chul Ho Lee, and Yasin Ceran. "From whales to minnows: The impact of crypto-reward fairness on user engagement in social media" Decision Support Systems (2024). https://doi.org/10.1016/j.dss.2024.114289
