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? 5 replies
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Zora coining is only available if you post through TBA. OTOH creator rewards are for all Farcaster Protocol posts. As a creator trying to monetize, posting from TBA made more sense
MM must've felt some heat from TBA's launch, and quickly added a monetization option to avoid losing their best users (creators) to a different, well funded client. In a rush, they settled with an old idea that had some success (collecting posts was the core idea behind Lens in 2021, but it's actually even older)
10% fee which will go to creator rewards + 90% to creator is much more transparent and clear than the Zora model, where everyone loses and money disappears. I appreciate this a lot
If you decide to play this game (I won't), don't forget that the NFTs will be totally illiquid, you have to mint in USDC, and you have to use the Farcaster client
If you, like me, think this kind of experiment should be a community Miniapp, then avoid using the feature. Maybe MM will get it 1 reply
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