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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Peter Kim
@peter
thanks for this take
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Koolkheart
@koolkheart.eth
Long but well understood
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alexander
@the-cynic
i have only been on zora for less than a week and i can already see this playing out. i think @drai also had the same experience. i am a non-trader. i have never traded before. i do not like content coins. they have no utility. i was hopeful though.
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helladj
@helladj
Plz snipe 0x3612C5A80c2b392f3c56CcC6C50881526A602974
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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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Lost Midas
@lostmidas
Extraction games are the fastest way to PMF in crypto
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