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https://solana.com
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Garrett
@garrett
Zoracoins might make more sense on Solana as an alternative to pumpfun Both distill an onchain asset down to its simplest, most composable and interoperable form: a fungible coin They have different approaches on mechanism design and style/culture Food for thought đź’
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six
@six
not sure i agree, zora coins are not really risk assets in the way memes are, they are moreso just liquid collectibles - likely lower upside and longer time horizon target user for that is probably more on base than sol
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Garrett
@garrett
What’s the difference between a zora coin and a meme?
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six
@six
upside and desired time horizon of the median participant
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Garrett
@garrett
The upside is boundless for both Time horizon is about the audience, not the format
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six
@six
just thinking through the market structure and stuff, if you go on pumpfun most coins have some people talking about how its the next 100m thing etc. i do not see those same expectations occurring on zoracoins. when i bought ripe's thing i didn't even think about what the upside was. if i'm buying a meme i'm very much thinking about that as a risk-on trade vs. as a collectible. not saying successful memes can't be launched on zora or vice versa for pumpfun, just thinking in probabilities, the average solana meme market participant is going for 10+x or bust, not buying a coin for the sake of owning it, which is imo why the average zoracoin buyer might buy one ofc nothing *mechanically* different between zoracoin and meme. just the nature of the assets lend themselves better to each respective community imo.
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Garrett
@garrett
Fair but I was coming at it more from “where we’re going” rather than just “where we’ve been” These behaviors/preferences will continue to shift and change over time. So many emergent behaviors in crypto prove to be unsustainable. And I don’t think it’s about the nature of the asset. They’re basically the same form of asset. It’s the nature of the platform and the framing/culture around that platform that launches the assets.
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triumph
@triumph
a side tangent on framing: zora thing was/is shilled hard as a “coin everything!” option and tbqh i am infinitely bearish on that. i just don’t think there is any sustainability (or associated liquidity) in ppl giving a fuck about random posts. nor do i think its a sustainable social economy via ~micropayments~ ripe’s coin was interesting to me bc he made it an artistic medium. a canvas. and seeing his reply to a zora employee thanking them “for the art supplies” hammered it home it’s a creative white space to be leveraged but imo is NOT a basic infinite coin generator so to speak
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Garrett
@garrett
Would you rather post on Zora and make $0.50 or post on IG and make nothing? Making these posts fungible coins makes them liquid. I agree that 99%+ aren't sustainable or even valuable but that's true about pumpfun tokens too Love Ripe's creativity here but what makes this so interesting is that Ripe's token is now in the same asset format as $AERO $CLANKER or $HIGHER Not sure where this takes us but it brings different types of assets under the same asset format: fungible tokens
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