noun seven three zero | onchain experimentation maxi @ zerorights.media, zeropod.xyz, @betrmint, the /yellow collective

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

Cool experiment on creator monetization from the Farcaster team

Interesting alternative vs TBA/Zora where you can coin a post 

I think most casts aren’t worth $1 but i suspect some canon casts or influential casts may be good collectibles

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why would it be less upside for the creator?

yeah i like the simplicity here 

the downside is less liquidity and upside for the creator

making a post scarce is the way to go imo

"my post is worth $100" is way more natural and understandable than "my post has a market cap of 2k"

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Well I think with the coin model you have to dump your content coin and basically rug the collectors to realize a USD profit right? 

Whereas this is just a straight-up auction denominated in USD, so not illiquid at all to start with no sell pressure, just buy pressure from collectors at the start. Easier for creators to make a living. 

Sure the aftermarket may be illiquid, but that's not up to the creator.

yeah i think the simplicity of this model is a benefit whereas the upside potential of the coin model is a clear benefit too but that comes with complexity 

they’re both illiquid but the zora coin option could more easily liquid with any relative demand

yep, might as well let another market decide is how i see it, incentive opportunity for creators who will likely go to where incentives turn out best

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It’s gonna be 🔥 
I’d image as you hint at that the auction settlement price distribution will be power law ish with the tail being unmet reserve prices. 

Will be super interesting to see the cultural impact. Group chats as refuge‽ was gonna happen anyway ty ai. 

Btw if you’re telling a client to build a miniapp - which msg protocol do you recommend today??

yeah i agree for the few that people want to collect but royalty enforcement is notoriously difficult

love the options and i think it’s a worthwhile tool for creators

The money will be in the after market me thinks. 

So many questions. Love the options. LFG

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Our Win-Win auction model makes every onchain auction a rewarding and engaging experience where you either win the auction or you get outbid and earn!

Everyone that participates in the auction, all the non-winners, could be rewarded if a percentage of that final fee went to rewarding all wallets that participated in bidding on it. 

@gbm has a model for this.

I have no idea if they are involved in this feature or not. 

But to me, this is a no brainer.  The losers can collect just for participating, and that would drive more value to the creators.  

Don't get me wrong, I think its cool, but the number 1 reason I believe in Zora is investors and creators are tied together, bonded.  This is not that same bond, but this additional layer of rewarding participants could at least incentivise participation. 

Will be interesting to see how this one evolves.

hi it’s me back with the questions again. can you resell the collectibles?