in april, CloneX NFTS displayed the image below instead of the original art due to an issue with the cloud hosting platform.
although it was eventually resolved, it was a wake-up call to many that the same thing could happen to any of the NFT collections that they held.
afterwards, there were discussions on the best method to prevent something like that from happening again and some argued that IPFS solves this issue well.
i did further digging into the claim and found that it really doesn't --> https://x.com/0xwilliama/status/1921169799456923899?t=7krf7tscohgjpzem78n_fw&s=19
my /firstdraft.
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I am once again reminding anyone on this app who’s likely trading memes and the like for the first time and thinks they know what they’re doing.
You most certainly don't.
Don’t get wrecked, fam 💜
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Top casts
there are a couple of onchain streaming platforms where the idea has been that streamers are able to be supported by their fans regardless of their geographical locations.
a pretty cool idea given how payments on trad platforms work, but horrible execution by most of them so far
why do i say so?
well it has to do with the fact that every one of them requires you to launch a token via which fans can support you.
the problem with this is that creators end up stuck with multiple coins or even have to create a coin; which is something that not most people are comfortable with.
e.g. if you've got a coin on zora, and decide to go to pump for fun to stream, you're going to have to create a coin on the platform; which for many isn't something they like
@dendotshow is an onchain platform, built on base, that solves this problem by allowing creators to run shows backed by an already existing token;
this means that a creator could launch a stream and use an already existing token for their fans to support with
e.g. dave has a token $dave on zora, instead of creating another for dendotshow, he can just use the same $dave as his support token on @dendotshow
in fact if he's not comfortable launching one, he can use $usdc
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they also incorporated an interesting mechanism, and that is "rewards for clippers"
if you've been on social media for a while, then you'd know that something that's been all the rage is clipping..
where people take and edit 15–60 second highlights of a show for others to see.
the problem here is that while the creator gets attention and more $ support, the clippers oftentimes don't earn a thing, until they are either reached out to by the creator or others interested in their work.
on @den, a tip made by a viewer on a clip they came across is split between the clipper and the creator; ensuring that an amount of revenue is split between both parties (to clip a creator's stream, a clipper must purchase a fan pass -- a set amount of support tokens e.g. could be $50 USDC or 250,000 $dave)
so your own community becomes your distribution engine — and they’re actually incentivized to be good at it.
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I originally wrote on @dendotshow for a bounty, but man I really love what's being built primarily for one thing; they're reducing the number of tokens that creators have to manage.
really cool & you should def check them out.
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just in case you only just came online and you're wondering what the whole CA talk on the castline (can someone please tell me what FC calls TL 😅) is about, here’s the quick rundown 👇
a few hours ago, @dwr put out a cast with the word “CA” and an address in it. to anyone who saw it, it looked like the man himself had decided to drop a token, and naturally, people weren’t going to miss out.
what 99% didn’t realize was that the address wasn’t a token address at all - it was just a regular wallet address.
@dwr was trying to pull a prank.
the idea was basically that anyone who tried searching the address to trade would find nothing, because again, it was a wallet address, not a token.
unfortunately @dwr didn’t take into account that someone would actually take that wallet address and turn it into a token ticker.
as a result, when people searched for the token, the scam token popped up. once it did, the buying began.
@dwr was notified about what was happening, and he put out a statement saying he wasn’t behind the token.
as soon as that came out, it immediately turned into a race to sell, and people began tanking the chat.
and that was pretty much the whole thing.
i’ve seen a couple of discussions on the whole saga, and imo (take it or leave it), the fault lies with:
(i) those who bought in and
(ii) dwr.
(i)
a good chunk of people on here have been in the space for a while, they didn't get in straight from web2.
a post like that should’ve had most doing basic checks - was dwr hacked? is the token legit?
i get that no one wanted to miss a potential token launch from the man himself, but at the end of the day, most didn’t do any due diligence before aping in.
(ii)
i don’t think dwr handled the backlash well.
prank aside, he should’ve owned up to the mistake and apologized - most people would’ve let it go.
insisting instead, that he “didn’t tell people to buy” and that it was “their decision” wasn’t (imo) the best response to people (who are his users btw) who just lost a couple bands.
that said, i think we all have learned 2 valuable lessons:
1. to be more careful with the things we post (this applies even more to influencers on here -- kinda reminds of what @zen said about fame and influence)
2. to to always do your own research on things you see on here - (it doesn't matter if it's a miniapp or token or NFT mint, try to do some research first).
p.s. whilst I mentioned that the chart is decent now, I know there are still some who got burnt on this one. if you're one of them, wishing luck on your next play 🤍
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Ngl, even though I’m a writer, there are weeks where I don’t write a thing (sometimes it’s due to being busy IRL, other times it’s just plain laziness).
But whenever I remember that $5, which I could use to get good ice cream is gonna go, I force myself to put something out 😅
Looking on how much I've put out, I can say that firstdraft has got to be the best accountability program I've gotten myself into 😅, thanks for setting up the whole thing @mark.
Only thing I wish is that the community was a bit more active…
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some context:
I got word from mark; the 1stdraft program is being put on a pause for now -- we should get an official announcement soon.
this means I'm now free to spend my $ on ice cream 🤣
p.s. thanks again for setting up this program @mark -- here's to hoping it goes live again soon🤞🏼