Hugo -
@schezhugo
Given the coins debate, here’s a mechanism that I think could make sense for higher effort artworks: 1- Mint artwork as a token with a bonding curve attached to it. Anyone can buy from it. 2- Allow users to “lock” their tokens in exchange for the NFT. 3- NFT represents the artwork as well as your position (how early you were and how much you bought). 4- Distribute trading fees to creator and lockers This way you encourage long-term holding and community building. Price is more predictable. Bonus point: locked eth earns yield such that game is non zero-sum anymore. Would love to get good feedback on this! Thoughts?
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Daniel Lombraña
@teleyinex.eth
I think we are overcomplicating things. It sounds like an overengineered approach that should be easier to understand. What problem solves this new approach?
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Hugo -
@schezhugo
Hey, thanks for the comments! The way I see it it’s mainly two: - Creating incentives for long-term holding vs short-term trading while still allowing for price discovery and speculation. - Creating more sustainable and predictable markets such that more people feel like participating. I can see how it might feel overcomplicated and over engineered, but I’m not sure it’s that much really!
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Daniel Lombraña
@teleyinex.eth
Explaining this to an outsider is going to be complicated. For me, the issue is speculation. It is difficult to remove it while probably supporting the artists.
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Hugo -
@schezhugo
Yes, it’s not super easy to explain, that’s true, hopefully good UX would be able to compensate for it. Regarding speculation, I’m not sure it needs to be removed though, but maybe make it less zero-sum. Appreciate your thoughts!
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Daniel Lombraña
@teleyinex.eth
You are welcome. I'm just asking openly what I can see as a problem. It would be nice to hear what @seanbonner.eth and @trish think about it.
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Trish🫧
@trish
Appreciate the thought put into this. Unfortunately it misses a point I think a lot of people are missing and that is hyper-financialization of art bums a lot of artists out. I think the creator rewards program on TikTok is a lot more appealing This might be profitable, I believe you it could be but in the end artists want to sell their art and collectors want to collect at fair prices. Many in this community aren’t traders or speculators. @rodeodotclub may be onto something. I enjoy it although artists aren’t really profiting… YET. Has potential though Arts and humanities culture here is looking for something different and we haven’t found the solution yet
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Hugo -
@schezhugo
Would love to hear their thoughts!
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