2024/12/03 by Kilian Schmück, Magnus Schückes, Tobias Gutmann +1 · 11 citations
Business, Management and Accounting · Social Sciences · #Business as usual #Business ecosystem #Computer science #Digital Marketing and Social Media #Digital Platforms and Economics #Ecology #Economics #Ecosystem #FinTech, Crowdfunding, Digital Finance #Knowledge management #Neoclassical economics
paper · doi:10.1016/j.techfore.2024.123810
published in Technological Forecasting and Social Change 211, 123810 (Elsevier BV)
openalex publication_date 2024/12/03 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/30
Business model literature, while insightful, primarily focuses on the Internet and Web 2.0 contexts. The emergence of pioneering digital technologies, especially the Web3 anchored by blockchain, necessitates reevaluating business model paradigms, particularly those of platform business models within related ecosystems. This study delves into blockchain's unique affordances, investigating how they mold novel Web3 business model patterns and integrate into specific platform ecosystems. We scrutinize the characteristics, trajectories, and synergies of value creation and capture. Using a mixed-methods approach involving 171 interviews and a subsequent sample of 126 Web3 ventures, we delineate a taxonomy of Web3 business model dimensions, clustering emergent decentralized platform ecosystems into pertinent archetypes. Our theoretical model delineates how blockchain affordances influence these configurations, emphasizing the dynamic between a platform's nucleus and its fringes. We highlight Web3 platform design choices leaning towards data sovereignty, emphasizing how the degree of blockchain integration within platform governance—leading to information symmetry and platform disintermediation—transitions digital trust to what we term as digital truth . • Blockchain-based platforms enable new decentralized governance structures in platform ecosystems. • Two distinct Decentralized platform archetypes are identified: Federated and Web3 platform ecosystems. • Platform-inherent token is crucial for incentivization and coordination schemes in fully decentralized platform ecosystems. • Blockchain affordances offer innovative pathways for overcoming B2B platform challenges. • Our study provides managerial insights for designing blockchain-based platform strategies.