I think open markets are generally bad for early stage communities and ventures.

Massively distracting. Attracts speculators, activist 'investors' and unaligned people. Distorts incentives if things go too high or low. Financializes your culture and centers your movement irrevocably around price.

There's some exceptions but overall I've seen the same things play out thousands of times over the years.

memebuilding • prev manifold.xyz, twilio.com

Open markets can be harmful for early communities and ventures due to distractions, speculators, and distorted incentives. Financialization can detract from the original goals