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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Tony D’Addeo
@deodad
the average consumer experience for a buyer (e.g. non-trader, imagine the average instagram user) will be something like buying 1,892,136 of a token at price so small it's hard to grasp and then watching the value of that go to zero with the majority of the money they spent will go to some other counter party than the creator this is a bad UX for a non-trader and for this reason I don't think it's a good model for general adoption it's certainly a good UX for traders though, an unending stream of highly volatile markets and am certain it will get widely adopted among traders and mixing of content with speculation will also attract a new audience of speculators like sports bettors (another form of content + speculation)
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Tony D’Addeo
@deodad
"the medium is the message": my own reservation of them stems from this insight from Marshal McLuhan that the medium of a message is often more important than the message itself attention markets are so fast / sharp / hot that they dominate whatever piece of content they wrap. it doesn't seem like a medium that fits with art, literature, journalism etc. it seems like the perfect fit for the sensational with in my own view is something I try to avoid not saying that it's a bad fit for all use cases. I have no doubt interesting and fun products / art forms / games / communities will arise from it, just that I don't think it will generalize as a primary way to monetize content tldr: content coins will are a fun and natural extension to other crypto attention markets but I'm skeptical of their general usefulness as a way to monetize content due to their inefficiency, poor UX, and loud subtext
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tomato
@tomatoxyz
I don't think they'll be very fun given the scale at which they'll be created. It sounds like its just going to be very, very, very noisy and I don't see it having long term momentum because of that (unless it is tied into some longer term narrative somehow, but that would require technical changes and doing it differently, such as if all of the content coins issued by a single creator ended up making the creator's token worthwhile)
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Reid DeRamus
@reidtandy
Love the thread above - thanks for sharing thoughts. Agreed that snipers are a problem, but do you think that's an impossible problem to solve? If you can solve for sniping (and anything else that harms integrity of the coin), I wonder if you could shift the UX away from speculation (imagine a purchase flow without any numbers), trying to tap into other types of motivation (patronage, self-expression, community, utility). Also wonder if coins at a writer level could offer something more unique & compelling than paid subscriptions, and if staking (and/or revenue share) could encourage long-term holding. The other lever we've been considering is whether higher share of trx fees could reduce pressure on selling to generate income, especially for the writer / creator. A little more detail on these lines of thinking below. Apologies for the word vomit, but would love to hear any thoughts! https://warpcast.com/reidtandy/0xbbfb0dba https://warpcast.com/reidtandy/0xb9af5064
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