coins

Still trying to develop a thesis around the new Zora update and “content coins,” but I find it very off-putting that so many people are all-in on this shift with no coherent thesis of their own.

My thesis on coins:

1. I think that all content is going to onchain. We've already started to see this with open editions, Farcaster, and more, but we're still at Day 1. I also think that over time the most composable, liquid way of "pricing" that content will be the one that wins out — this is because even if we don't want there to be, there is a market here.
2. I think ERC20s/tokens are an incredibly powerful building block for composability. They are also the "freest" / most liquid way of pricing assets. This means that they are accruing a huge amount of inertia around them and are instantly composable. This makes them a logical "endgame" for how content goes onchain.
3. The *problem* is that the mechanics around those coins are broken right now. Initial launches aren't priced right, there aren't positive sum ways for creators to capture value, there aren't "smart" ways for value to reaccruate to the tokens. This leads to bad outcomes.

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@base builder #001; onchain cities w/ OAK & city3

You are right just take @drakula  viral videos turn memecoin as example we are still in stage 1 of an evolving ecosystem and we will ride it out and see what will happen