Jeff on Farcaster

Jeff pfp

Hate to yuck a lot of the yum going on right now, but I don’t like content coins because they encourage rugging the creator. Example: someone buys a post of a creator for $5. Later it sells for $100. They make a 20x. The creator gets hardly anything. That dynamic treats creators like inventory, not people worth supporting. Promote holding. Reward buyers with rev share. Align incentives around supporting creators, not flipping their work. Would love to better understand or be proven otherwise.

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Jeff pfp

Additionally, the creator is then in a position to have to potentially rug the audience that is trying to support them as well. It’s PVP. Not supporting creators. Again, someone tell me what I am missing.

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Pichi pfp

I feel this in my soul.

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Matt pfp

Ok but have you considered fuck it we ball

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Koolkheart pfp

@koolkheart.eth

It’d be cool if flipping a cast automatically triggered a microtip to the creator. Even something like 1–2% could go a long way

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tricil pfp

Another side of the coin (ha see what I did there) is that in order for a content creator to realize any gains from said coin … is to sell. which doesn’t look good and we get accused (?) of rugging. on that note, I’ve never sold any $tricil and I’m petrified to do so even if my stack is respectable

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DepressiveHacks pfp

DepressiveHacks

@depressivehacks

Agreed. Once you have an asset tied to your onchain identity, you are chained to that asset. People will hold you responsible for price action. God forbid you want to take some time away and log off. In severe cases, people receive threats and horrible comments from people who have lost money on their assets. This is not a good thing. I also majorly dislike that tokenizing a post is the default setting for posting from TBA. Nobody should be accidentally launching an onchain asset. People, especially newbies, don't know what they're getting themselves into.

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Kasra Rahjerdi pfp

you’re 100% correct. this + the fact that there’s no LP anyway so the creator can’t exchange for real currency, it’s such a huge fucking scam and most people are in too deep to acknowledge it cause their world would break down. same way i feel the “earn for posts!” on zora

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bradq pfp

yeah, seems like we’re experimenting with lots of things, but we’re far from where we need to be in terms of real support.

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Catch0x22 pfp

but who will provide feeds to the sequencer transactions won't make themselves base energy is dope but they need to reel it in like last year

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Angel pfp

And if the creator sells the $100 before someone else does then they’re the ones rugging 🫠

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Cool Beans 🌞 pfp

Cool Beans 🌞

That's why selling NFTs was the biz, since artists would make % off of secondary sales. I guess platforms weren't making enough money to satisfy their hunger for Lambos.

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Toady Hawk pfp

What do you think about this Zora coin experiment we ran with @betrmint

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yungwknd 🎩 pfp

I think the argument is that capturing 1% of the value of your content is better than nothing. But feels odd coming from the era of NFTs where creators captured 90%+ Hard to make an argument that trading fees are more lucrative than direct-to-consumer goods

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Biggydaddy.eth pfp

Creators should be supported, not used for quick profit. It’s better when everyone grows together.

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J Finn 🎩 pfp

💯 basically top traders multi-X and creators are no better off

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BLACKDAVE ₘₖ₂ pfp

BLACKDAVE ₘₖ₂

What you’re saying is right, but what you’re asking is for artists to do more work around maintaining content as opposed to create the things that brought them the ability for their content to have value in the first place (the art/work/product/brand/etc)

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Nate Maddrey pfp

💯 Content coins make sense if you’re a trading platform that makes money from fees. Or if you’re a speculator But the economics don’t really make sense for creators or collectors

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https:// pfp

@wwwdotcom.base.eth

I just bought your post don’t you dare rug me Jeff.

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