Gekonn
@gekon
Removing the NFT royalties has killed the secondary NFT market by removing the flipping barrier. And the resulting illiquidity when the conviction evaporated has in turn sapped the primary market.
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Gekonn
@gekon
Sacrificing culture to increase the business metric (volume, velocity) ended up reorienting the critical mass towards the short term and now the fun is mostly over.
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Gekonn
@gekon
Great lesson there for protocol builders -> enshrine the long term economic drivers and and protect them by difficult/lengthy rituals of change. This starts early: calling fee a parameter invites an easy change. Fight that easiness from the beginning. Build things that are hard to change.
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