It’s also highly important that students are offering feedback to their peers, and reacting to that feedback in a way that models good constructive criticism and improving upon ones work. Opening up students work to the web means that it’s not just the teacher that’s responsible for leaving the feedback and providing that extrinsic motivation for continued growth; it’s now on the shoulders of everyone in your learning community to help one another in a much more public and open way.

A great post: Four Recursive Practices for Teaching and Learning | The Tech Savvy Educator based on the No Digital Facelifts: Thinking the Unthinkable About Open Educational Experiences – YouTube video.
Lots of food for Formative Assessment thinking.
There is a lot of other great stuff in the post, best to read it all.