Newt Powers
@newtp
today is a great day to post and get paid It’s *also* a great day to explain to me how a post’s market cap works. @jabo5779 graciously explained to me that you can buy and trade the post’s coin, but why does the market cap change? What determines it? Tysm.
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Jesse Pollak
@jesse.base.eth
as more people buy your post, MC goes up. as they sell, it goes down. you earn 1% on all the volume. you can think about it like a market for the attention the post is getting! this isn't that different from how centralized social media works today - except for they are doing all the valuing in private then monetizing with ads. by moving the valuing to the free market, we make it open and can redirect the monetization to you.
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Newt Powers
@newtp
Oh that’s crazy about the ads. It makes a lot of sense that they’re taking away the money from you and restricting things :/ i do wonder why and how (with each post being its own coin) does someone sell a post? I guess to cash in on what they already got out of it financially?
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Jesse Pollak
@jesse.base.eth
if you're the creator of the post, you get 1% when it's created. if other people buy it then you'll be able to sell it. tho I generally don't recommend it - I think it's good to own your work and I expect buyers will be less likely to buy in the future if you're always selling on them. the good thing is you don't need to sell to earn. you earn whenever anyone else buys or sells your post, like a royalty! we are already seeing creators earn thousands of dollars from this.
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Newt Powers
@newtp
Wow, that’s insane🤯 i’d keep my post coins, partially because I don’t know how to sell them, but partially because you’re correct having ownership over your own work is lit😂 thank you so much for explaining
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J'Mariano
@cryptfi-mariano
Bit by bit you will understand pretty well with time. You have an account on @zora ?
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Newt Powers
@newtp
No, that’s gotta be a bit too far above me😅
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J'Mariano
@cryptfi-mariano
Hahaha! It works the same as BaseApp doses. Don't worry, with time, you will get to understand it.
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Newt Powers
@newtp
Tysm true
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