Core Insights - The article discusses the rapid rise of Zhongshu Youwei, a local life mall in Hangzhou, which has achieved over 100 million yuan in revenue within six months, positioning itself as a representative of the Web 3.0 "new consumption economy" [1] - It raises questions about whether Zhongshu Youwei is a true innovator in the business sector or merely a bubble created under the guise of Web 3.0 [1] Group 1: Business Model and Growth - Zhongshu Youwei has adopted a "consumption as investment" model, attracting 200,000 users and collaborating with over 500 merchants, creating a commercial ecosystem with transaction volumes in the billions [3] - The platform integrates "physical goods + points + digital assets," allowing consumers to receive products, green points, and exclusive electronic stocks (MA) upon spending 1,000 yuan, thus enabling them to share in platform profits [3] Group 2: Incentive Mechanisms - The platform's incentive mechanism provides multiple values for transactions, ensuring immediate value through product acquisition and encouraging ongoing consumption through delayed rewards [4] - The MA electronic stock has a deflationary mechanism, with a limited total supply and reduced circulation, potentially increasing its value over time [4] Group 3: User Engagement Strategies - Zhongshu Youwei effectively captures user psychology with instant feedback mechanisms, such as daily login rewards and cash incentives for referrals, enhancing user engagement and retention [6] - The platform employs a tiered structure to incentivize user growth, leading to exponential increases in user numbers [6] Group 4: Participation Structure - The company has established a multi-tiered participation system, where creators can join for 299 yuan and earn cash rewards for referrals, while partners can invest 10,000 yuan for profit sharing and asset appreciation [7] - Strategic partners enjoy limited seats and global profit sharing, expanding into international markets [7] Group 5: Comparison with Traditional Models - Compared to traditional rebate models, Zhongshu Youwei's digital asset approach gives consumption an investment attribute, enhancing trust through blockchain technology for data integrity [8] - A dynamic balance mechanism maintains ecosystem health through intelligent algorithm adjustments [8] Group 6: Challenges and Concerns - While Zhongshu Youwei claims to operate compliantly, its business model faces challenges, particularly in sustaining MA profit buybacks and the rationale behind tiered identity dividends [10] - The reliance on new user growth to support MA buybacks and point redemption raises concerns about the model's sustainability, especially if user growth slows [10] - Despite these concerns, a notable increase in user repurchase rates after a brand partnership indicates some effectiveness in the model [10]