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https://opensea.io/collection/zorbs-eth
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Dan Romero pfp
Dan Romero
@dwr.eth
An optimistic case for the new Zora model 1. Everything that can be a token, will be a token. This trend is accelerating because the largest capital market in the world—the US—is finally has a pro-token regulatory environment. (Using coin and token interchangeably here.) 2. If you create digital media, you can immediately can earn money. No bank account, payment process or platform (Zora contracts are a protocol). 3. Additionally, if you create digital media that goes viral, i.e. captures internet-scale attention, you can make a lot of money. Traditionally the only beneficiaries of internet-scale attention are the web2 social media platforms—they monetize via attention (time spent) and they minimally share the upside with the creators. 4. Coins (ERC20) are the most composable primitive in crypto. Order of magnitude more than NFTs (ERC721). Leads to weirder / emergent use cases. 5. Zora open editions fee distribution stack is underrated for curator / app layer monetization.
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Callum Wanderloots ✨ pfp
Callum Wanderloots ✨
@wanderloots.eth
Do you see this as being sustainable for the average person, or more for people who happen to go viral? This model intrigues me a lot, but hasn’t quite clicked from a practical implementation standpoint as an evolution of social media + assets
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Dan Romero pfp
Dan Romero
@dwr.eth
One plausible future reality 1. 80% of posts don't earn anything 2. 19% of posts earn <$100 3. 1% of posts earn >$100 Don't focus on the exact percentages, napkin math, adjust for spam, etc. But the apply the same power laws that already exist internet, but possibly, you get better monetization for the middle cohort. And then the power law winners capture more of the upside instead of the platforms.
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Callum Wanderloots ✨ pfp
Callum Wanderloots ✨
@wanderloots.eth
Right, which is what I was thinking, as Pareto distribution tends to reveal itself, and why I think this model appeals more for content (massive volume, low effort) vs art (low volume, high effort) In terms of the actual operation, the creator gets 1% of coin supply, and there is a 1% trading fee for each transaction, of which the creator earns 50%, then there’s a split between the referrer and Zora. What you say makes sense for the transaction fee model, which will be small earnings unless vital moment occurs with large volume of transactions leading to 1% of large number. How does the value of the liquidity pool come into play? Would that purely be the 1% ownership of the creator that can now be swapped with the pool for relatively high earnings?
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