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@coopahtroopa.eth
Miggles presents an interesting paradox for Base. Coinbase launches a new collection called Mr. Miggles with 70k mints from 42k unique wallets (and 11 ETH in sales). A very successful open edition. The news of a Coinbase-backed meme kickstarted an unofficial memecoin which ripped to 100M cap this week. (MIGGLES) I and many others here minted the Miggles open edition as a part of Onchain Summer + Smart Wallet. There is no value capture between the Miggles editions and the MIGGLES memecoin. Traders who DID NOT do the officially sponsored Miggles campaigns outperformed those who did. I find it hard to see a world where Coinbase/Base fully lean into promoting official memecoins - which begs the question, what happens next? 404s are an interesting alternative - but this would make the $0.60 mint price of the open edition much high if they editions appreciated in value as the token mooned. How does Base *endorse* the things that appreciate the most in value while staying true to the open edition meta?
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ted (not lasso)
@ted
"Traders who DID NOT do the officially sponsored Miggles campaigns outperformed those who did." did all traders outperform? can't imagine every single trader made $ also can't imagine that everyone who minted a mr. miggles cares about making $. in fact, i think they care more about creators making $ vs themselves.
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@coopahtroopa.eth
Not 100% of traders but everyone who bought the token first few days it dropped def did. What I’m trying to highlight is best world is where both traders and creators make money - right now it’s one or the other and that feels like a missed opportunity
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