Blur v Opensea driving take rates to 0 makes me bullish on crypto. 

To me, one of the biggest value props of crypto is getting us closer to the efficient market and reducing rent extraction. 

Tokens potentially align incentives here, Opensea yet to crack (maybe doesn’t apply in this case)

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Yeah I agree on that point — the airdrop is a distortion that is driving volume to Blur.

The airdrop is just a gtm and is orthogonal to competition on platform fees. 

Fwiw I don’t think 0 take rates is necessarily sustainable or the long term price, but competition should help us find that price

don’t fully agree with efficiency. there have been multiple cases where blur farmers have had bids well above floor

seems more to do with token incentives/ speculation and less with efficiency https://i.imgur.com/EnVDpV4.jpg

No not at all. Just commenting on platform fees. Getting rid of royalties is bad but inevitable without technical enforcement. 

Also don’t think platform fees are necessarily rent extraction if there’s cost to providing the service.

are creator royalties rent extraction in your view?

Building /stokefire a mobile strategy game onchain. Run and own poolfish.xyz a calculator for LP providers. Built Potion solo and sold for $300k.

A few things:
-Protocols don’t need to profit

-OS has made a ton of money to this point, just because they don’t have a long term sustained profit engine, doesn’t mean they can’t profit

-By doing things that are differentiated and value add. For example, their APIs are very useful and benefit from economies o

But how do companies make a profit in that case?

I touched the topic of effectiveness in this blog post

- Soon all market models have been iterated
- After a market is deployed as a smart contract it is done
- Then it is just a rally in down the fees
- Uniswap v3 is already the most cost efficient market for retail

https://bit.ly/3F5eFEz

How does crypto reduce rent extraction? Isn’t choosing to run a simple node a form of rent extraction? Just asking since I am not sure how it aims to prevent it.