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https://warpcast.com/~/channel/impact
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Mike | Abundance đ
@abundance
one basic problem with the Creator Economy? Creators benefit the community (or network) but are expected to be rewarded by members of the community That's like a worker that benefits a company and expects to be compensated.. by other workers Yes, those other works do get some benefit from the worker's contribution (more revenue for the business, some of which ends up in their paychecks) But if they (instead of the company) had to compensate that worker, you're just not gonna see a very successful company you'd see a lot of freeloading instead and you'd see a massive coordination failure with many frustrated people ..much like what we see in the so-called "Creator Economy" today coincidence?
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downshift. đī¸đ¨
@downshift.eth
farcaster is designed specifically to make a few individuals wealthy.
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Mike | Abundance đ
@abundance
even if true, they'd still be more successful at that if creators were rewarded for the value they create..
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Oliver
@timewarp
This is why @procoin is so appealing to me It incentivizes more curators to identify quality creators and reward them for their craft The velocity of attention and value speeds up as any of the flywheel appreciates, e.g. token, curated feed, or the creator's posts
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Trigs
@trigs.eth
Because creators are only paid in "feedcoins", which are inherently speculative, which will largely only reward extractive behavior. The first 50 creators in a feed only get .1% of supply and then the rest get .0002%. That doesn't sound like a very sustainably inviting system. As the first 50 creators cash out whatever is left from speculators dumping, then the incentive ends and everyone moves on to a new curator to extract from that pool. Look at any tokenomics analysis of similar past projects (ie moxie) and ask yourself if creators are going to get value or get dumped on.
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Mike | Abundance đ
@abundance
doesn't @procoim only give creators a tiny fraction of the reward (0.1% for first 50 then 0.002%)? so if a curator is wildly successful, and is valued at $100K, a creator would see $2 of that. I feel like these numbers need to tweaked a lot for creators to see any value flowimg to them
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Trigs
@trigs.eth
It waves that flag, but the incentive design is still inherently speculative and extractive while leaving creators still passing around the same $5, this time maybe cashing in a few percents of profit off the top.
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