fc-updates

New: Collectibles! 

Support your favorite creators by collecting their casts onchain. Each cast can be turned into a unique, 1-of-1 collectible. Just tap the new "collect" icon on a cast to get started. 

Casts can be collected starting at $1. If there are multiple collectors, it goes to the highest bidder. Creators get 90% collectible earnings, and the remaining 10% goes to the protocol rewards. 

We’re excited about collectibles for a few reasons: 
1. Creators earn directly from their audience
2. New creators can earn on their first day
3. Users get to collect a unique piece of Farcaster history

Collectibles will go live tomorrow morning around 9am PT. We're announcing this early so people can be ready to collect their favorite casts when the feature is live! 

Learn more here: https://farcasterhq.notion.site/Collectibles-2306a6c0c10180d7a917c24892662a3c?pvs=74

1. This will be much better than content coins
2. This will be much worse than content coins 

The Zora model is too complex and doesn't serve anyone. Creators make some fees, most ppl lose money, bots dump on you. To win you have to be early, watch the price, sell at the right time?! Who has time for that

In the end, most people will be left with illiquid coins. Oh and the creator gets a bunch of coins too. But they can't sell them or they'd be dumping. Ok? Bad system. Pure retail fleecing 

So why is this worse? Cos there's no gambling element whatsoever. U buy an NFT, it is totally and absolutely illiquid. So it's a tip. That's it. It's a tip. So... just give a tip?

But wait, we already have a bunch of tipping apps competing with each other (Noice, Tipn, Degen, others?), why would MM release their own?

A uniform standard for collection is likely better than a community built option that lacks consensus

Stay Curious // iixii // Head of Crypto at https://www.lazertechnologies.com/  // Prev: CoinDesk, Roc Nation // based @basedevo

Good point, and I think it makes extra sense for collecting where 1/1 status is the whole point

But the same can be said for almost all features on any platform, right? Farcaster is an open protocol. They should lean on that more, that's how they win

They have leaned on that a good amount and that’s why there are more builders/devs here than there are creators

some features make more sense than others to build into the popular client or canonical client