building @alfaca @offmarket @perl | alum South Park Commons | previously cofounder SBLY.com, eng at Stripe | peter-kim.com

I suspect there's an iteration of the model similar to how pump was successful with their bonding curve to graduation.

My hunch is the right model is:

1. Initially it's collecting
2. If you collect enough, you graduate to a coin (reflecting the attention garnered)
3. And most importantly, people know the rules of the game
4. Ultimately, most attention markets are very short-lived; durable ones are rare.

Pump’s bonding‐curve → graduation isn’t a universal template.
The idea that you can always start by “collecting” and then seamlessly “graduate” to a tradable coin assumes zero frictions in token issuance and legal compliance, and user understanding

But in reality it’s totally different