Our goal is to build the most rewarding place to create and collect on the internet.

This means pairing the most efficient minting models with the most simple user experience possible.

This requires constant iteration and evolution at the protocol level.

This is cool. The horse meme is a good example because inefficient secondary markets mean the nfts didn't really appreciate relative to the virality of the meme itself. If this model works, then the next time an onchain post goes viral, the creator and minters stands to capture a lot more of the upside.

say more about why the market was inefficient?

well, fungible vs non fungible markets are always that way 

that’s why AMMs make sense for 1155s vs 721s

feels like nft secondary markets are kinda inherently more inefficient sans like sudoswap/blur pools, because you need active buyers and sellers, it's not "automated"