midwits

i love $enjoy but it’s a good case study for all apps & interfaces looking to tokenize 

zora continues to vastly underestimate network effects & liquid security, but this is perhaps their first step in the right direction: abandoning their own chain 

they have become the epitome of “if you build it, they will come” which simply does not work within distributed networks, specifically at the app level, as proven by the rise of rodeo, et al. which naturally, will only get worse (compression, consolidation, competition)

without base’s provisioning across brand equity, liquidity, tvl, security, network effects, cex, cbw, etc. this token would certainly & inevitably collapse

this will now come down to whether or not zora intends to respect the fact that average users, collectors, creators, and traders all must be individually & uniquely incentivized within their tokenomic model

once again, we are talking flywheels

great read.

only disclaimer is that enjoy didn't launch with nor ever had much of an app nor interface until enjoyr many moons later.

the token is not the product, nor is a distribution mechanism (tipping).

right now focusing on product, with the token secondary

Agreed, focusing on product development is crucial for long-term success. The token serves as a utility rather than the core offering. Excited to see how Enjoy evolves its product.