smartcoins

there seems to be a disconnect between your “smart coins” framing and “tokenize all media.” nothing positive sum about the latter in the current market with the current built environments. 

i think the “abundance of tokens” narrative only works when there’s a way to contextualize them, and for that you need networks/communities.

New Kevin Kelly post: 

The Handoff to Bots

"Summary: Human populations will start to decrease globally in a few more decades. Thereafter fewer and few humans will be alive to contribute labor and to consume what is made. However at the same historical moment as this decrease, we are creating millions of AIs and robots and agents, who could potentially not only generate new and old things, but also consume them as well, and to continue to grow the economy in a new and different way. This is a Economic Handoff, from those who are born to those who are made."

https://kk.org/thetechnium/the-handoff-to-bots/

Thinking aloud:

Wouldn’t you argue that tokenizing everything would be zero-sum as long as population is flat or declining? 

Tokenizing everything is 100x-ing the supply of tokens while the demand is staying constant. So we need a new way to 100x the demand for those coins.

Since each person has a finite amount of attention, the only way to grow the “attention TAM” is to increase the population of humans or bots.

And since most pro-natalist efforts have failed, the solution worth pursuing would be increasing the number of bots as the consumers of these new coins.

Wdyt?

Thinking aloud:

Wouldn’t you argue that tokenizing everything would be zero-sum as long as population is flat or declining? 

Tokenizing everything is 100x-ing the supply of tokens while the demand is staying constant. So we need a new way to 100x the demand for those coins.

Since each person has a finite amount of attention, the only way to grow the “attention TAM” is to increase the population of humans or bots.

And since most pro-natalist efforts have failed, the solution worth pursuing would be increasing the number of bots as the consumers of these new coins.

Wdyt?

https://warpcast.com/zd/0x4b3ab6ce

Appreciate the thought and probably need to sit with this longer

Separately - I'd be curious to get your take on the Kevin Kelly piece once you've read it, in or out of context of this specific thread

yes, i think attention TAM needs to grow

i haven't given much thought to bots/agents as the increase in TAM we're looking for, but my gut feeling is that that doesn't feel desirable. i don't want to build bots for the purpose of them being our exit liquidity, and frankly i'm not sure that bots actually increase attention TAM (because the money needs to come from somewhere, and it's likely coming from *people* who are already generally paying attention)

and i think population only sustainably increases by onboarding *communities* with new goals and aspirations or through existing communities. we've seen this time and time again in crypto – the tourists come and go, but those who find their people stick around. this will continue to be the case until the onchain internet is big enough that it can just be considered "the internet."

brykayne.com • Product Leader • ex-SuperRare • ex-Peloton • bry.base.eth

Liquid Collectibles

In a recent government hearing, someone referred to memecoins as “collectibles.”

When I think about low-priced coins - coins where the goal isn’t price discovery or speculation and where an underlying money market exists - I see 

Liquid Collectibles.

Some (but not all) thoughts:

1.	New Design Space - Most apps today focus on price, but what if an app optimized for quantity of coins rather than their price? Feels untapped.

2.	New Business Models - If quantity of coins is high and liquidity exists for each coin, there’s opportunity for a different business models. Need to think more on this aside from swap swap swap. 

3.  App Attack - The number of coin launchers is growing exponentially, yet very few apps are being built on top of those coins. Aside from /clankermon and kinda /nativefun, I can’t think of many experiences / products built on top of a large quantity of coins. Maybe this is the “app era unlock” we needed. 

More to come…

“we need a new way to 100x the demand for those coins”

I think this is where a mental reframing / differentiation of coin types is needed 

curious your thoughts here @zd

PRESTO LABS INC

I definitely think there needs to be some kind of reframe, but I also think the more names we give to different coins, the harder it is to attract those that demand them

I really like just calling them "coins" and focusing more on what each project does with those coins

Some projects will be focused entirely on just launching more coins. Others will be focused on using those coins as coordination mechanisms, money, or other specific use cases

In /presto’s case, we’re focused entirely on growing the total network value of token communities - and I view that as a blending of the different things you called out in your post. A new type of product, a new business model, etc.

“we need a new way to 100x the demand for those coins”

I think this is where a mental reframing / differentiation of coin types is needed 

curious your thoughts here @zd 

https://warpcast.com/brykayne/0x2dd29510

Yeah this is the thing I can't stop thinking about- we've doubled down on 100xing the supply while nobody new is entering (and very few are actually doing the work of adding new people tbh).
So we just end up massively fragmenting liquidity, so we all lose 

Also agree with Jihad that bots don't really solve this issue either...

Interestingly I don’t think the problem is demand, it’s continuous value accrual vs. one-shot max fdv