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Alpha leak just for Farcaster: @drakula is introducing “videocoins” this Wednesday

It’s easy for creators: upload a video and earn.

It’s easy for users: every videocoin is a fun meme to buy into. Powered by @zora.

a video platform where creators own their content, which is composable with everything web3

imo the main reason @drakula hasn't really taken users from tik tok yet is because most of the world is ignorant to what's going on onchain

- @base bringing the world onchain
- @zora building the best onchain infra for creators
- builders like @alexmasmej.eth grinding nonstop

it's only a matter of time

Founder @drakula (download on the App Store: apple.co/3N8hRmi). Previously created $ALEX.

Watch & trade videocoins. Get /drakula on : apple.co/3N8hRmi and Android play.google.com/store/apps/details?id=app.drakula

Zora

Growing veggies for the fine folks of Southeastern Massachusetts, w/ a focus on nutrient quality. Always interested in the evolution of digital payments.  🎩 

This has been the on chain creator economy issue for the last 5 years. The issue is it’s cool if you’re into crypto and stuff but it doesn’t actually scale because people don’t consume video in this format and they aren’t used to paying for media or art with money vs paying with their data that is being sold. 

There has yet to be a music or media platform to crack this code they have all failed so far. I hope everyone succeeds but I just don’t see this scaling.

I want them to succeed but this isn’t going to scale imo. There is no decenrible value to being paying for and it’s already a hurdle for normies. This will suck liquidity out of the same 100-1000 users and then fall flat.

I want them to succeed but this isn’t going to scale imo. There is no decenrible value to being paying for and it’s already a hurdle for normies. This will suck liquidity out of the same 100-1000 users and then fall flat. 

https://warpcast.com/kdaniels.eth/0x678dc3ee

growth @teller coming soon @clarity





























































hosting /kieran /usdc /loans 

agree re: videocoins specifically in their current form, I don't see how buying the video itself and expecting resale value is going to work for the average user. Maybe a video that is incredibly viral or otherwise important.

Are the videos used in this ERC-721 or 1155? Are users buying ownership of the video?

I could see this scaling in some interesting ways but it's a tough one.

Maybe purchasing videos from creators you like, then staking $DEGEN to increase their relevance in the algorithm, which increases the likelihood that they go for a secondary sale... but it lacks incentive for at least one of the involved parties and it's still inferior to simply staking.

obviously anything would have to be as passive as possible, but people pay for subscriptions on video platforms all the time. You'd just set how much you want to spend per month, and the app distributes based on that.

@alexmasmej.eth would you be interested to talk about DeFi infra on drakula? Maybe try some things out in test groups?

additional tokens must enhance the app experience and reward participants as easily as possible. that could really take the app to the next level, but I agree with @kdaniels.eth that videocoins in their current form aren't scalable.

right now it feels like best case videocoins get used as a toxic farming mechanism by the influencer class, worst case they turn users off of the app entirely.

additional tokens, mintable videos, resales, creator royalties... it's getting over the non-crupto native audience's head really fast

I still think the OG @drakula creator token is incredible for onchain video shorts. any additional tokenomics need to use that as a foundation. videocoins (VCS) could work, but they have to make the experience better, and provide some passive monetization.

the app would greatly benefit from a robust DeFi backbone.

thinking out loud, maybe creator + VCS power a yield mechanism.

1. user buys creator token as currently done
2. VCS can be bought and staked on videos you enjoy
3. staked VCS (stVCS) boosts that video in the algo (functional). on the DeFi side, some VCS buys creators tokens, some goes into a reward pool.
4. creator tokens bought back through the protocol are fractionally distributed to the creator + VCS stakers. early stakers receive a higher share of the reward pool.

idk, but yeah I agree that the current system is a little lazy