basil (recession arc) pfp
basil (recession arc)
@itsbasil
to tokenize everything is to tokenize nothing & simultaneously to dilute everything fundamentally, value is scarce; attention is scarce; liquidity is scarce you cannot accrue sustainable long-term value in any meaningful way in a completely lateral, fully tokenized system—it will leak; outflows will outpace inflows you will only welcome incremental volatility & disproportionately increase the amount of everyday losers relative to structured markets there is no consumer protection or provisioning in this system; meaning more consumers will lose in this system than in current models, which are already flawed as is the only people who fully stand behind this ideological agenda of tokenism are the teams who own the launchers, chains, dexs, vcs and the other intermediaries this is telling… there is no PURE consumer on the other side of this debate; it’s just business it’s like watching a train fly by that has lost its breaks; we fight the inevitable because it’s heading towards disaster
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Reid DeRamus pfp
Reid DeRamus
@reidtandy
What do you think is the best way for artists, writers, podcasters, etc. to get paid for their work? We're having a hard time helping writers earn a reliable income under the open edition NFT model. Would love any ideas or feedback.
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basil (recession arc) pfp
basil (recession arc)
@itsbasil
i think you’ll probably need a native token where system-wide value can accrue, effectively derisking any one individual contributor by provisioning liquidity, attention & distribution across ALL creators within the network i think the biggest issue with tokenized blog posts or podcasts is that they require a high attention, large following account to signal or they’re doa without any signal, there will be no discovery; without discovery, only the top creators have any chance at making money so i think the focus needs to move from “how can this creator make money” to “how can the network make money together” and i think that’s a system design question not a monetization one to do that, i think you incentivize network value accrual, not individual monetization; it should be the creators job to bring more people into the network—that’s how they get paid then if the system works, money should flywheel with incremental attention: more users, more money, more creators, more users
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