Dan Romero
@dwr.eth
The fundamental problem to solve for with personal tokens / creator coins / etc. is the psychological effect of a significant price decline. 1. Most people are not equipped to manage a liquid, global, 24/7 traded asset. 2. Current norms are that if someone buys an asset, they expect the person / team / organization behind that asset are incentivized long-term to make that asset more valuable. 3. When there's a significant price decline, many / most creators will be overwhelmed by the hole they now need to dig themselves out of. Layer on a bunch of angry, pseudonymous people screaming at them on the internet. 4. Additionally, what happens when you want to stop creating? Like Outdoor Boys recently did. Contrast to a publicly traded company where the founder retires—the value still continues to accrue. Possible ways to change this 1. Invent a new asset that's time bound. Closer to a prediction market or an option. "I'm speculating on X during period Y." 2. Change norms / culture -- this is super slow.
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Dan Romero
@dwr.eth
A secondary problem: solve the norms for allowing the creator to sell. Today, if someone behind a crypto asset sells said asset, it's deemed to be "dumping" and a bearish signal. (People tend to ignore if number keeps going up.) In public markets, there are 1) planned sales (10b5-1) and 2) transparency around insider ownership (disclosed in quarterly financials). This doesn't exist in crypto yet (despite a few efforts). Consider two scenarios: a) Taylor Swift does a concert tour and generates $2B in ticket sales from her fans. That's a direct transfer of money from fans to the creator b) Taylor Swift does a concert tour and sells $2B worth of creator coin. Fans can attend the concert if they hold X amount of her creator coin. The increase in demand for the coin provides sufficient increased market cap / liquidity for the creator to realize value. In scenarios A and B, the creator realizes the same amount of value. But in scenario B, current norms make this feel bad, whereas scenario A is normal.
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mirs.ETH
@mirs1994
Awesome đź‘Ź
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