Tony D’Addeo
@deodad
content coins monetize content by attaching an attention market to it and sending a portion of the initial supply and transaction fees from trading to the creator these markets are purely speculative and are characteristic bubbles with a steep curve followed by a crash and asymptote to 0 these markets are dominated by sophisticated players: automated traders that try to “snipe” a large supply for very little in the first moments of the market, or active traders using tools and / or insider knowledge the general flow of value is from retail (either collectors or gamblers) to these sophisticated players with the creator getting some relatively small portion if you measure efficiency as the proportion of net changes in value going to the creator these markets are a not an efficient way to pay creators though it's possible the creator makes more money from speculators looking to profit in the market that otherwise wouldn't have supported the creator directly
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Uneeb Agha
@0xasdf
100% agree with your take. it's extractive. it can benefit the creator and potentially the platform its on. but net negative for retail. ...but it's a catalyst in an otherwise hopeless market. the opportunity is there for someone to highjack the narrative and build something meaningful.
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Uneeb Agha
@0xasdf
One more thing I'd add is that we should underscore the value it does bring to the creator who has been using the platform for years. Yes there are sniper bots etc etc. But the memes are still real. So value flows from where to where?
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