We claim to have “attention markets” today, but do we really?

This would imply that price of a proxy asset is directly correlated with aggregate attention on a meme/idea/information. Or at least that volume is correlated. 

Trump is no less relevant now than he was when his coin dropped — is the token accurately capturing attention?

The nature of tokens is such that you need *consistent value creation* to sustain the relationship between attention and price, and we don’t currently see that with tokens today.

We have attention markets, but they’re not as liquid as they could be since the whole world isn’t participating in them yet

That means that we’re measuring attention of a current thing at a current time relative to all the other things that are currently tokenized 

As more and more things become tokenized, and more liquidity enters each market, the intrinsic value of each thing becomes increasingly legible

It’s kind of like a diffusion model - today the value of each thing is fuzzy, but with increases in liquidity comes increases in clarity