Zinger ↑
@zinger
When life gives you lemons... you dump them after two hours? 💀
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jesse.base.eth 🔵
@jessepollak
do you think that piece of media is worth >$70k?
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Zinger ↑
@zinger
No I think it's worth $0, it's literally a picture of lemons that Dan took. It's only notable because it was created by someone notable and notable people should think twice before launching liquid coins on the open market regardless of how easy apps make it to do so. No reason for it to be an ERC-20.
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jesse.base.eth 🔵
@jessepollak
it's definitely not worth $0. dan's last NFT mint did $70 in primary sales, so that's a floor. this is a new format, so there's some memetic value to that. it's currently sitting at $100k after some reasonable price discovery, so that's also a strong signal it's not $0.
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@zinger
Okay so then answer your own question: do you think that piece of media is worth >$100k? If so what makes it worth that much? Why should people buy into it? What is the inherent value of Dan's lemon photo? Should people hold it indefinitely?
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🎀 sonya (in theory) 🐰
@sonyasupposedly
people are buying this 1) to be part of a moment / feel a sense of belongingness via participation 2) to gamble on how long this lemon picture will hold attention I'd bet the latter dominates and the former purpose is better served by NFTs (in my opinion) is reason #2 like, morally wrong? no. is it a noble activity that exemplifies the best of the human spirit? also no
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Zinger ↑
@zinger
That's my whole point: these should just be NFTs #2 is just memecoins and the fact that these ones are dying so quickly is because Base has pathetic volume and attention right now
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🎀 sonya (in theory) 🐰
@sonyasupposedly
it was probably inevitable for someone to do "every post is a memecoin" and I guess Zora is pretty well-positioned to give that a try, but I dislike how it changes the dynamic around collecting art — and selling it. Much more complex revenue dynamic for creators granted, appetite for speculation does seem to outstrip the appetite for collect-via-tip, so I get why Zora wants to tap into that more
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