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https://opensea.io/collection/zorbs-eth
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jacob
@jacob
Coins can scale to infinite collectors, solving a huge problem with editions Thread:
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jacob
@jacob
One insight we gained at @zora is that the secondary market is the primary experience. A mint lasts for a moment in time, and then for 99.9999% of the time a token is in the secondary market.
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jacob
@jacob
This means most people who want to buy a thing are experiencing buying on the secondary. This is not ideal, because NFT secondary markets are clunky and inefficient. You need the holder on the other side to accept an offer (if they want to at all) and do a lot of work to find a price. This limits growth and is a bad user experience.
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jacob
@jacob
By moving to coins we have entirely automated the secondary market. Anyone can buy any amount at anytime, and more crucially: the number of people who own can scale infinitely. Editions are limited by the supply of editions. 100 editions, 100 holders. Coins can grow to the scale of the Internet.
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jacob
@jacob
This means that the potential for creator (and collector) value capture and distribution is unbounded.
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jacob
@jacob
More importantly: this means that we can discover value over the long term. People think that this is a short term driven model, and that’s certainly where the activity is right now. But these markets will be liquid and available for as long as the blockchain exists. So we’ll see the true value be revealed in the long term.
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jacob
@jacob
The best content going onchain may not break through the noise today with the mania. But if it’s great and people discover it in the future, the market will be there and will adjust accordingly with an efficient and simple format that we know can go from $0 to anything.
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the park
@thepark
this is exciting and hopeful to think about in theory, in practice how does an artist track this? Say we create a song coin now, it’s slow month one, and month 4 gets added to a famous movie, and suddenly people buy, 1million people, how do artists or accounting teams track this? Apologies if it’s in front of us, feels opaque where to find how much an artist has actually collected off coining something
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