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Coop
@coopahtroopa.eth
Onchain social in 2024: 1) I mint something for super cheap (0.0001 ETH) 2) My mint goes into a social feed of people who follow me on FC 3) I earn a referral when they mint it 4) I make more money from referrals than what it cost me to mint it This is the viral design loop to solve with Daily Active Minters.
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BFG 🎩↑Ⓜ️
@bfg
The thing is … that minting experience makes sense with very limited amount of things I keep thinking about it more and more that minting music 🎶 has potential future value cos you own your music and there’s assumption you listen to your music. These conditions are not true for majority of other things, including art, writing, etc. and it just clutters your wallet 🤷‍♂️
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Callum Wanderloots ✨
@wanderloots.eth
Wouldn’t this still apply for low priced art? (Aka zora style minting) If you automatically share mints with others and you earn 20% from the mint, it doesn’t take long to recoup your initial purchase and perhaps earn even more from you being an early minter that promoted the piece
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BFG 🎩↑Ⓜ️
@bfg
I actually don't think the price is the factor ... it's more the question of WHY? Why would you mint that? I mean, we don't go to Dollar store to buy stuff we don't need just because it's cheap 😇 it just clutters the wallet if it's not bought on purpose or used regularly later. I mean it's just my feeling that this hoarding of NFTs is not long-term strategy that makes sense unless you're looking at them and hence you want to own them. Same with music, movies, etc. 🫣 what do you think?
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Callum Wanderloots ✨ pfp
Callum Wanderloots ✨
@wanderloots.eth
Yeah I think that's fair! With the art, I think we'll see digital frames go more mainstream as the price drops, so people will have adaptable art that can be displayed (i.e., similar use to listening to music nfts by viewing art NFTs). But I think this differs from the dollar store comparison, because with the referral systems, if you buy a sticker at the dollar store and trigger 100 more people to buy that sticker and earn 20% of those sales, it's no longer a sticker, but an indication of a micro-investment. I think perhaps it's back to the difference between collector/investor at that point, with the added benefit that both styles contribute to supporting creators in the creator economy rather than having them supported by ad revenue. So in a sense, this micro-investments can keep ad-free platforms that incentivize creators to stay on that platform. I think this breaks down for fine art though, since they will be inherently limited and highly priced.. what do you think?
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