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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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jesse.base.eth 🔵
@jessepollak
I also think that all of this learning is most raw, personal, and real for creators, the actual people who are bringing their content onchain. I think we need to lift up, celebrate, and be grateful to creators every single day. More of this.
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