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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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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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