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https://warpcast.com/~/channel/coins
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jesse.base.eth 🔵
@jessepollak
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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jesse.base.eth 🔵
@jessepollak
... 4. I *also* think there is massive cultural stigma around them, because we've been told that "coins are bad" literally by the government AND convinced ourselves that a *scarcity* of coins is better (because then the small number can be controlled). I think that these are both negative stigmas that need to be broken. 5. To get to the other side, and unlock all the creative potential here, I think we need to push through some discomfort. Rewrite some of our thinking on this and be open to learning on the go. That's why I'm experimenting in the open and sharing what I learn and see. I think this next phase is going to be a bit messy, but I want to make sure that @base builds a culture where experimentation is possible (and celebrated!). I think that starts at the top and that's why I'm personally pushing the boundaries with experiments.
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jihad ↑
@jihad
Yes. Tokens are extremely malleable and composable tech. But with great power comes great responsibility. "Maximum composability" is only good UX if it leads to positive outcomes. We get there by being very intentional about how tokens are bought, sold, created, and interacted with – not by leaving the experience to chance.
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Push 🎩🤌🏻
@push-
Aight bro appreciate your point of view, but I still kinda feel like art and coins should be a bit more distant from each other. Might not be right tho, and this bring us to point 3. The greed is when eradicated, and I’m sure the vast majority of ppl collecting a zora nft rn are just patiently waiting for their exit liquidity to come in so they can leave. Feels good to see devs experimenting and building new ways for people to collect, but imho on a “human being” level we’re not ready yet for these tools
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Lost Midas
@lostmidas
There’s a danger in framing content solely in financial terms If pricing content is the ultimate goal, we risk reducing art, culture, & expression to assets on a blockchain -- turning creators into participants in a financialized game they may not want to play Many creators are looking for recognition, support, & connection, not just market dynamics or liquid pricing The challenge lies in rethinking token mechanics to prioritize long-term collaboration rather than value extraction, & prioritizing empathy towards creators instead of pure speculation
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Konohime
@konohime.eth
IMHO, you're confusing shitposting (aka post/social media content) with Open Edition (which are limited through time) You can estimate art according to previous sales, but most of the time, artists aren't good at marketing this is the main reason why they don't sell! Getting 2 likes is already a victory here, why on earth should I become a market maker according to a very subjective content? 😅
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Isquaremedia🎩
@isquaremedia
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
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