androidsixteen 🌲 on Warpcast

Reid DeRamus pfp

How can we help writers earn meaningful, reliable income? Open edition NFTs haven’t quite gotten us there, so we have to find a better solution. We wrote a couple posts on why we think coins may be a better model (part 1 below) — we'd love to hear what you think. https://paragraph.com/@reidtandy/rethinking-how-writers-get-paid

13 replies

4 recasts

20 reactions

Colin pfp

@six @androidsixteen.eth, relevant to the other threads on coins, we'd love to get your critical thoughts here as well!

1 reply

0 recast

1 reaction

androidsixteen 🌲 pfp

androidsixteen 🌲

@androidsixteen.eth

Will read and follow up with thoughts here!

1 reply

0 recast

3 reactions

androidsixteen 🌲 pfp

androidsixteen 🌲

@androidsixteen.eth

Just read -- not sure how it would differ from the Zora model as currently implemented? I guess my core question is around why virality matters. Viral content is closely coupled with an ads-based internet model. Rather than trying to optimize for millions of views / page opens, I feel like the goal should be to connect each author with their "1000 true fans" If each person can find 100 patrons that adore them, the mechanism underlying the monetization is less important. From the latter perspective, it could literally be as simple as a 1 USDC tip button That said, I don't want to be too prescriptive as I don't understand your business as well as you do. Perhaps it makes sense to offer a toolkit ranging from speculative tokens to vanilla subscriptions, and let your authors decide how they want to make money from their audience? Would be down to discuss further with y'all at Farcon or something, as @giu and I are thinking deeply about this as well

2 replies

0 recast

2 reactions

Reid DeRamus pfp

Re: toolkit, that's more like where we were a year or so ago. We had a range of monetization features (referral rewards, collectible highlights, token-gating / NFT memberships / paid subscriptions), most of which weren't really used, and only introduces complexity in the product. Ideally, we find a monetization feature that really works as the default, and then selectively & opportunistically introduce complementary revenue streams over time (if needed at all).

1 reply

0 recast

1 reaction

Reid DeRamus pfp

Excellent stuff, thanks for the feedback! Some responses below, but would love to dive deeper at FarCon. . "Viral" might be the wrong word.. but I think it's important that your work be shared for new people to discover it, whether that be in group chats, forwarding emails, or in social feeds. Of all the new people who come across your work, hopefully some portion stick around and become part of your "1000 true fans". Re: 1 USDC tip button, I think that would be really hard for that to turn into a reliable, meaningful income, which would limit the amount of creative work (and certainly the number of people doing it full-time). I say that to basically make the point that the mechanism does matter. We've had a hard time w/ open edition NFTs driving any meaningful revenue for writers, which is why we're looking for something better.

0 reply

0 recast

1 reaction