Okay. Red teaming this.

Why would I launch a creator coin?

Isn't speculation likely to destroy good will on Farcaster etc or attract an audience that don't actually care about my work?

What's the end game here, and how does this end well for me / my readers and audience?

Curious to hear...

I write about tech + humans + philosophy. Skeptical optimist, EA aligned, building internet businesses.

Farcaster OG.

https://linktr.ee/joanwestenberg

Mother, beliver. artist, paints over AI. Impulsive, socially awkward, addictive personality, lover of art,music & LSD. I’v seen things,   you wouldn't believe.

Making a creator coin feels to ME, like wiring a ticking bomb with my name on it

Someday Zora will yet again change their model and force it onto their existing user base as they’ve done two or three times already. Creator coins are imo an attempt to kludge “tokenization of everything” into the creative industry when there’s already plenty of ways to directly support creatives already - like subscribing or paying them for their work.

Yeah. I’m playing with Zora right now but I can’t shake the bad bad feeling that this would end in a bad bad way. Either reputationally or emotionally.

No good reason imo - the whole moxie thing turned me off from them completely

Writer, Reader, Coder, Designer, and a wicked cricket geopolitical commentator. https://zora.co/@echoesofstreet

frametheglobenews.com | brief.pk | factoura.xyz

Yea - agreed. But many do play the stock market.

I also wouldn't float myself on the stock market

To be fair though a good segment of the stock market is pretty much based on speculation - this is just the tokenised version of it.

ads mostly enrich middlemen while staying fair to consumers; creator coins flip that, fairer to creators by cutting out platforms, but you trade that for exposure to speculation

On YouTube you monetize through ads. With a creator coin you monetize through speculation - either trading fees or dumping.

same reason you would start a youtube channel. 

to monetize your work.

You shouldn't. The idea that creative work is valuable only if there's potential upside for its investors (sorry, fans) is a cynical one that undermines the idea that the creative work has value of its own.

If I were to join you on red teaming this, I’d treat it as if you were putting out your first paid course and announcing it to your audience

- I’d caveat who should/shouldn’t buy your coin
- I’d be very clear what to expect from being a holder or patron (even if it’s nothing)
- I’d make clear you do plan to use it to monetize aka sell at points (if that wasn’t abundantly clear)

Wouldn’t do it; esp because you’re high integrity and can’t control who’s gambling on your content

I work at the posts office

terminally.online

I’ve done so many hours of user research here and fundamentally almost every serious creator doesn’t want to:

1. Have their body of work (and career) tied to an extremely fickle, arbitrary number

2. Lose their sense of self worth in the aggressive financialization of their every move

3. Scam their true fans (even accidentally)

For the vast majority artists and makers, launching a coin is ALWAYS serious bc it’s tied to their reputation (which is basically all they have bc they have no money) and most of their fans aren’t degenerate gamblers so they cannot and will not understand why number go up and down so much and so fast. 

Number can’t go up rationally without being tied to a stream of cash flows. That is fundamentally a security. Everything else is the fever dream playland of (who I affectionately call) the mentally ill.

My eternal thoughts:

https://farcaster.xyz/cameron/0x1bd37781

In my opinion, Zora's Creator coins aren't a good idea. At this point all of their choices are aimed at increasing their revenue - this is just another stream of fees. 

If Zora had kept all of their past versions (NFTs, LEs, and OEs) and added coins and creator coins on top, there could more inherent utility. But few people enjoy coins besides traders. Their remaining users don't care about creators very much.

I created my Clanker to run experiments. I don't think it's a smart idea for just anyone.

Coinbase employee (Investigatooor), personal account. Onchain is the future.

How about a creator token engineered to be speculation-resistant?

-Isn't speculation likely to destroy good will on Farcaster etc or attract an audience that don't actually care about my work?

At scale (more coined content by you and others) this becomes less of a problem as the primary people buying your coined posts will be those who want to support you long term. 

You can also burn it choose not to sell your supply of the token (if you want to avoid 'dumping on your followers'), and you will still make money on the trading fees sent to you automatically.

I think its mostly for people to support u but when u sell they’ll mark u as “ sold on her/his Fans “ 


I mean wasn’t that the case ? 😂

I said the same thing. Still experimenting.

in short: supertips >> coins

in long: i wrote an essay

in short: supertips >> coins

in long: i wrote an essay
https://paragraph.com/@vinaydebrou/crypto-casino?referrer=0x770EcC01f9c2363113A33A188D49dBed21D0c141

This is similar to coining everything on base app. 

The whole pitch is you will earn from trades. I’m not actually fully sold on this personally but your entire thread is good to follow. Thanks for starting the discussion. 

101 $tipn