midwits

yappin in /midwits & creating idle rpg /animarising

this leads to aggressive profit taking by those who have seen others make it in the cycles before—why not me, they ask

they do not want to round trip again & they know that the token they’re holding is worthless outside of belief

belief, that they were sold on last cycle; belief, that has continuously been proven to be fragile at best 

but what about the newcomers? 

ser, what newcomers? we are all 35 

the new entrants that do find their way into crypto end up trading “weener token” on solana where they inevitably get rekt by those who have come before

they are certainly not here for the tech 

so what can we do? how can we combat our fragile belief system? 

the answer, i believe, is to kill the belief system in its entirety 

it’s time to provide value, not promises; utility, not hype; deflationary tokenomics, not memes 

we win here by creating a safe heaven; by giving folks on base a place to go to park their tokens 

a place where devs are shipping & tangible value is produced, not belief

This applies to the Base NFT ecosystem as well, and I'm not talking about lazy Punks copycats 👀

Led by "Onchain Summer", then Zora, then Rodeo, the Base NFT culture transformed the scarcity of NFT into some posters/badges to collect at the exit of a concert, artists accepted to earn pennies for hours of work or worse : lowered the quality of their artwork (AI anyone ?) to mint more to "earn more".

But bots will always be better at automatic low value tasks.

So artists are jumping from one "marketplace" to another and no longer focus on "How a fortunate collector will evaluate my work and ultimately, buy it?".

"Why should I care if I'm making money?" you will ask. You should care because :
- it's not sustainable and your work will be lost when these "marketplaces" won't maintain their IPFS node
- your market history is close to 0 with 1000's of sales. It should be the opposite : one 1000$ sale to sell more $1000 artworks
- creators are becoming consumers, not collectors 

Seek for the long-term ✨