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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are creator royalties rent extraction in your view?

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.

Got it. IMO all of this is ridiculously unsustainable. There’s cost to providing the service — servers, team, etc.

Take-rates can’t be zero and should include a profit margin for anyone good to want to build on top of protocols

It's definitely unsustainable to not have a business model and the long term take rate might not be zero.

But the marginal cost is pretty close to zero so it also might be.

I'm excited to see how Opensea and others monetize and differentiate. Feels like it's already pushing both to be build better products