We claim to have “attention markets” today, but do we really?

This would imply that price of a proxy asset is directly correlated with aggregate attention on a meme/idea/information. Or at least that volume is correlated. 

Trump is no less relevant now than he was when his coin dropped — is the token accurately capturing attention?

The nature of tokens is such that you need *consistent value creation* to sustain the relationship between attention and price, and we don’t currently see that with tokens today.

We have casino schelling points:

People learn that once a certain series of events occur a casino game begins.

But as more people learn the rules there’s less and less alpha.