本研究以NFT交易平台OpenSea為個案，回應在以區塊鏈技術為基礎的平台生態系（platform-based ecosystem）中，平台業者會依據何種情境條件來配置存取決策權（access decision rights）與治理決策權（governance decision rights）之研究問題。
本研究將情境條件分為創作者的異質性（heterogeneity）以及創作者在平台投入的專屬性資產（platform-specific assets），並據此進行分析。分析結果顯示，決策權並非一成不變的，而是會隨互補財廠商的特性而調整。換言之，決策權的配置可以被理解為一種權變性的治理工具：當創作者的結構呈現高度異質性，且充斥仿冒與垃圾內容時，OpenSea會透過加強鑄造工具管制、提高驗證門檻與強化上架審核機制，集中地保有存取決策權，以抑制逆選擇與品質風險；而當創作者在流量、交易資料與歷史評價上對OpenSea形成高度依賴時，會愈加地關切被掠奪風險，OpenSea則進而考慮透過發行SEA代幣與導入社群治理機制，釋出部分的治理決策權以作為制度性承諾。整體而言，平台治理並非只是單純地選擇中心化或是去中心化，而是會隨著不同的情境條件，動態地配置決策權。此一發現不僅為既有區塊鏈治理文獻中對中心化與去中心化視為二分法的選擇提供新的視角，也提供了一套平台治理以互補財廠商特徵為基礎的動態權變觀點。

This study uses OpenSea, an NFT trading platform, as an empirical case to explore a question: In blockchain-based platform ecosystems, under what contextual conditions do platform owners allocate access and governance decision rights to balance centralization and decentralization in platform governance? The study finds that when the creator population is highly heterogeneous and flooded with counterfeit and low-quality content, OpenSea appears to mitigate adverse selection and quality risks by tightening control over minting tools, raising verification thresholds, and strengthening listing review. In contrast, when creators develop a high degree of platform-specific assets on OpenSea in terms of traffic, transaction data, and historical reputation, and become increasingly concerned about expropriation risk, OpenSea begins to consider issuing its own token and introducing community governance mechanisms, thereby ceding part of its governance decision rights as an institutional commitment. These findings challenge the conventional view that platform governance must be either centralized or decentralized. Moreover, this study advances a contingency perspective that explains how decision rights are allocated based on complementor characteristics.

Adner, R. (2017). Ecosystem as structure: An actionable construct for strategy. Journal of Management, 43(1), 39-58.
Aghion, P., & Tirole, J. (1997). Formal and real authority in organizations. Journal of Political Economy, 105(1), 1-29.
Ahrne, G., & Brunsson, N. (2005). Organizations and meta-organizations. Scandinavian Journal of Management, 21(4), 429-449.
Ali, J., & Vidan, G. (2025). Playing, earning, crashing, and grinding: Axie infinity and growth crises in the Web3 economy. Big Data & Society, 12(3), 20539517251357296.
Allen, R. (1983). Collective invention. Journal of Economic Behaviour and Organisation, 4(1), 1-24.
Alonso, R., Dessein, W., & Matouschek, N. (2008). When does coordination require centralization? American Economic Review, 98(1), 145-179.
Appleyard, M. M., & Chesbrough, H. W. (2017). The dynamics of open strategy: From adoption to reversion. Long Range Planning, 50(3), 310-321.
Beck, R., Avital, M., Rossi, M., & Thatcher, J. B. (2017). Blockchain technology in business and information systems research. Business & Information Systems Engineering, 59(6), 381-384.
Benzell, S. G., Hersh, J., & Van Alstyne, M. (2024). How APIs create growth by inverting the firm. Management Science, 70(10), 7120-7141.
Berkowitz, H., Brunsson, N., Grothe-Hammer, M., Sundberg, M., & Valiorgue, B. (2022). Meta-organizations: A clarification and a way forward. M@n@gement, 25, 1-9.
Berkowitz, H., & Dumez, H. (2016). The concept of meta‐organization: Issues for management studies. European Management Review, 13(2), 149-156.
Birkinshaw, J., Nobel, R., & Ridderstråle, J. (2002). Knowledge as a contingency variable: do the characteristics of knowledge predict organization structure? Organization Science, 13(3), 274-289.
Blei, D. M. (2012). Probabilistic topic models. Communications of the ACM, 55(4), 77-84.
Blei, D. M., & Lafferty, J. D. (2007). A correlated topic model of science. The Annals of Applied Statistics, 17-35.
Blei, D. M., Ng, A. Y., & Jordan, M. I. (2003). Latent Dirichlet allocation. The Journal of Machine Learning Research, 3, 993-1022.
Boudreau, K. (2010). Open platform strategies and innovation: Granting access vs. devolving control. Management Science, 56(10), 1849-1872.
Burns, T., & Stalker, G. M. (1961). The Management of Innovation. Tavistock Publications.
Chen, L., Tong, T. W., Tang, S., & Han, N. (2022). Governance and design of digital platforms: A review and future research directions on a meta-organization. Journal of Management, 48(1), 147-184.
Chen, Y., Richter, J. I., & Patel, P. C. (2021). Decentralized governance of digital platforms. Journal of Management, 47(5), 1305-1337.
Chesbrough, H. W. (2003). Open innovation: The new imperative for creating and profiting from technology. Harvard Business Press.
Chesbrough, H. W., & Appleyard, M. M. (2007). Open innovation and strategy. California Management Review, 50(1), 57-76.
Chod, J., Trichakis, N., & Yang, S. A. (2022). Platform tokenization: Financing, governance, and moral hazard. Management Science, 68(9), 6411-6433.
Choi, B. C., & Phan, K. (2012). Platform leadership in business ecosystem: Literature-based study on resource dependence theory (RDT). 2012 Proceedings of PICMET'12: Technology Management for Emerging Technologies, 133-138.
Christensen, J. F., Olesen, M. H., & Kjaer, J. S. (2005). The industrial dynamics of Open Innovation - Evidence from the transformation of consumer electronics. Research Policy, 34(10), 1533-1549. https://doi.org/10.1016/j.respol.2005.07.002
Costabile, C. (2024). Digital platform ecosystem governance of private companies: Building blocks and a research agenda based on a multidisciplinary, systematic literature review. Data and Information Management, 8(1), 100053.
Coulombel, P., & Berkowitz, H. (2025). One name for two concepts: A systematic literature review about meta‐organizations. International Journal of Management Reviews, 27(2), 151-173.
Cutolo, D., & Kenney, M. (2021). Platform-dependent entrepreneurs: Power asymmetries, risks, and strategies in the platform economy. Academy of Management Perspectives, 35(4), 584-605.
Darshan, P., Rajesh, R., & Kamath, S. (2025). Intellectual Property Rights and Entrepreneurship in the NFT Ecosystem: Legal Frameworks, Business Models, and Innovation Opportunities. arXiv preprint arXiv:2507.00172.
Dessein, W. (2002). Authority and communication in organizations. The Review of Economic Studies, 69(4), 811-838.
DiMaggio, P., Nag, M., & Blei, D. (2013). Exploiting affinities between topic modeling and the sociological perspective on culture: Application to newspaper coverage of US government arts funding. Poetics, 41(6), 570-606.
Eaton, B., Elaluf-Calderwood, S., Sørensen, C., & Yoo, Y. (2015). Distributed tuning of boundary resources. MIS Quarterly, 39(1), 217-244.
Engert, M., Evers, J., Hein, A., & Krcmar, H. (2023). Sustaining complementor engagement in digital platform ecosystems: Antecedents, behaviours and engagement trajectories. Information Systems Journal, 33(5), 1151-1185.
Fama, E. F., & Jensen, M. C. (1983). Separation of ownership and control. The Journal of Law and Economics, 26(2), 301-325.
Farrell, J., & Simcoe, T. (2012). Choosing the rules for consensus standardization. The RAND Journal of Economics, 43(2), 235-252.
Galbraith, J. R. (1977). Organization design. Addison Wesley Publishing Company.
Gawer, A., & Cusumano, M. A. (2002). Platform leadership: How Intel, Microsoft, and Cisco drive industry innovation. Harvard Business School Press.
Ge, A. (2019). Generic or specialized? Dependence asymmetry and PFI--A case study of iPhone innovation ecosystem. 2nd International Symposium on Social Science and Management Innovation.
Ghazawneh, A., & Henfridsson, O. (2013). Balancing platform control and external contribution in third‐party development: The boundary resources model. Information Systems Journal, 23(2), 173-192.
Grimmer, J., & Stewart, B. M. (2013). Text as data: The promise and pitfalls of automatic content analysis methods for political texts. Political Analysis, 21(3), 267-297.
Gulati, R., Puranam, P., & Tushman, M. (2012). Meta‐organization design: Rethinking design in interorganizational and community contexts. Strategic Management Journal, 33(6), 571-586.
Hagiu, A., & Wright, J. (2020). Platforms and the exploration of new products. Management Science, 66(4), 1527-1543.
Håkonsson, D. D., Larsen, E. R., & Eskildsen, J. K. (2023). Effective information infrastructures for collaborative organizing: The case of Maasai Mara. Organization Science, 34(4), 1509-1526.
Harris, M., & Raviv, A. (2005). Allocation of decision-making authority. Review of Finance, 9(3), 353-383.
Henkel, J. (2006). Selective revealing in open innovation processes: The case of embedded Linux. Research Policy, 35(7), 953-969.
Henkel, J., Schöberl, S., & Alexy, O. (2014). The emergence of openness: How and why firms adopt selective revealing in open innovation. Research Policy, 43(5), 879-890.
Herhausen, D., Ludwig, S., Abedin, E., Haque, N. U., & de Jong, D. (2025). From words to insights: Text analysis in business research. Journal of Business Research, 198, 115491.
Hippel, E. v., & Krogh, G. v. (2003). Open source software and the “private-collective” innovation model: Issues for organization science. Organization Science, 14(2), 209-223.
Hofstetter, R., Fritze, M. P., & Lamberton, C. (2024). Beyond scarcity: A social value-based lens for NFT pricing. Journal of Consumer Research, 51(1), 140-150.
Hsieh, Y.-Y., Vergne, J.-P., Anderson, P., Lakhani, K., & Reitzig, M. (2018). Bitcoin and the rise of decentralized autonomous organizations. Journal of Organization Design, 7(1), 1-16.
Hsieh, Y. Y., & Vergne, J. P. (2023). The future of the web? The coordination and early‐stage growth of decentralized platforms. Strategic Management Journal, 44(3), 829-857.
Hurni, T., Huber, T. L., Dibbern, J., & Krancher, O. (2021). Complementor dedication in platform ecosystems: rule adequacy and the moderating role of flexible and benevolent practices. European Journal of Information Systems, 30(3), 237-260.
Jacobides, M. G., Knudsen, T., & Augier, M. (2006). Benefiting from innovation: Value creation, value appropriation and the role of industry architectures. Research Policy, 35(8), 1200-1221.
Jarrahi, M. H., & Malhotra, A. (2024). Creating open innovation through API-enabled simultaneous centralization and decentralization. Business Horizons.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.
Jensen, M. C., & Meckling, W. H. (1995). Specific and general knowledge, and organizational structure. Journal of Applied Corporate Finance, 8(2), 4-18.
Joseph, J., & Sengul, M. (2025). Organization design: Current insights and future research directions. Journal of Management, 51(1), 249-308.
Kapacinskaite, A., & Mostajabi, A. (2024). Competing with the platform: Complementor positioning and cross‐platform response to entry. Strategic Management Journal, 45(12), 2577-2607.
Kaplan, S., & Vakili, K. (2015). The double‐edged sword of recombination in breakthrough innovation. Strategic Management Journal, 36(10), 1435-1457.
Kapoor, R., & Agarwal, S. (2017). Sustaining superior performance in business ecosystems: Evidence from application software developers in the iOS and Android smartphone ecosystems. Organization Science, 28(3), 531-551.
Karanović, J., Berends, H., & Engel, Y. (2021). Regulated dependence: Platform workers’ responses to new forms of organizing. Journal of Management Studies, 58(4), 1070-1106.
Kretschmer, T., Leiponen, A., Schilling, M., & Vasudeva, G. (2022). Platform ecosystems as meta‐organizations: Implications for platform strategies. Strategic Management Journal, 43(3), 405-424.
Kude, T., & Huber, T. L. (2025). Responding to platform owner moves: A 14‐year qualitative study of four enterprise software complementors. Information Systems Journal, 35(1), 209-246.
Lawrence, P. R., & Lorsch, J. W. (1967). Differentiation and integration in complex organizations. Administrative Science Quarterly, 12(1), 1-47.
Lumineau, F., Wang, W., & Schilke, O. (2021). Blockchain governance—A new way of organizing collaborations? Organization Science, 32(2), 500-521.
Maric, D., Lechner, C., & Cennamo, C. (2025). Governance and coopetition in platform ecosystems: Swings of a pendulum. Strategic Management Review(Special Issue on Collaborative Strategies in the Digital Age).
McIntyre, D. P., & Srinivasan, A. (2017). Networks, platforms, and strategy: Emerging views and next steps. Strategic Management Journal, 38(1), 141-160.
Mekacher, A., Bracci, A., Nadini, M., Martino, M., Alessandretti, L., Aiello, L. M., & Baronchelli, A. (2022). Heterogeneous rarity patterns drive price dynamics in NFT collections. Scientific Reports, 12(1), 13890.
Moore, J. F. (1993). Predators and prey: A new ecology of competition. Harvard Business Review, 71(3), 75-86.
Moore, J. F. (1996). The death of competition: Leadership and strategy in the age of business ecosystems. HarperCollins.
Moore, J. F. (2006). Business ecosystems and the view from the firm. The Antitrust Bulletin, 51(1), 31-75.
Nadini, M., Alessandretti, L., Di Giacinto, F., Martino, M., Aiello, L. M., & Baronchelli, A. (2021). Mapping the NFT revolution: Market trends, trade networks, and visual features. Scientific reports, 11(1), 20902.
Parker, G., & Van Alstyne, M. (2018). Innovation, openness, and platform control. Management Science, 64(7), 3015-3032.
Pereira, J., Tavalaei, M. M., & Ozalp, H. (2019). Blockchain-based platforms: Decentralized infrastructures and its boundary conditions. Technological Forecasting and Social Change, 146, 94-102.
Pujadas, R., Valderrama, E., & Venters, W. (2024). The value and structuring role of web APIs in digital innovation ecosystems: The case of the online travel ecosystem. Research Policy, 53(2), 104931.
Roberts, M. E., Stewart, B. M., & Airoldi, E. M. (2016). A model of text for experimentation in the social sciences. Journal of the American Statistical Association, 111(515), 988-1003.
Roberts, M. E., Stewart, B. M., & Tingley, D. (2019). Stm: An R package for structural topic models. Journal of Statistical Software, 91, 1-40.
Santalo, J., & Filatotchev, I. (2025). Strategic governance of blockchain platforms: From centralized to open source control systems. Long Range Planning, 102539.
Shimizu, T., Nagayama, S., & Yamanoi, J. (2025). Attentional uniqueness and firm performance: The mediating role of growth actions. Journal of Management Studies, 62(4), 1680-1716.
Shinde, R., Patil, S., Kotecha, K., & Ruikar, K. (2021). Blockchain for securing ai applications and open innovations. Journal of Open Innovation: Technology, Market, and Complexity, 7(3), 189.
Shipilov, A., & Gawer, A. (2020). Integrating research on interorganizational networks and ecosystems. Academy of Management Annals, 14(1), 92-121.
Soleimanof, L., & Neufeld, D. J. (2026). Pursuit of decentralization in blockchain-based systems: An empowerment perspective. Journal of Information Technology, 41(1), 37–55. https://doi.org/10.1177/02683962251389979
Strauss, A., & Corbin, J. (1990). Basics of qualitative research. Sage Publications.
Tavalaei, M. M., Hu, Y., & Narciso, G. (2025). Managing dependence on innovation platforms. Academy of Management Annual Meeting Proceedings, 2025(1), 21833.
Teece, D. J. (2018). Profiting from innovation in the digital economy: Enabling technologies, standards, and licensing models in the wireless world. Research Policy, 47(8), 1367-1387.
Thompson, J. D. (1967). Organizations in action. McGraw-Hill.
Tiwana, A., Konsynski, B., & Bush, A. (2010). Research commentary—Platform evolution: Coevolution of platform architecture, governance, and environmental dynamics. Information Systems Research, 21(4), 675-687.
Vanhaverbeke, W., Chesbrough, H., & West, J. (2006). Open innovation: Researching a new paradigm. Oxford University Press on Demand.
Victer, R. S. (2020). Connectivity knowledge and the degree of structural formalization: A contribution to a contingency theory of organizational capability. Journal of Organization Design, 9(1), 7.
Wareham, J., Fox, P. B., & Cano Giner, J. L. (2014). Technology ecosystem governance. Organization Science, 25(4), 1195-1215.
Wen, W., & Zhu, F. (2019). Threat of platform‐owner entry and complementor responses: Evidence from the mobile app market. Strategic Management Journal, 40(9), 1336-1367.
West, J. (2003). How open is open enough? Melding proprietary and open source platform strategies. Research Policy, 32(7), 1259-1285.
Zapadka, P., Hanelt, A., & Firk, S. (2022). Digital at the edge–antecedents and performance effects of boundary resource deployment. The Journal of Strategic Information Systems, 31(1), 101708.