Zora

An optimistic case for the new Zora model

1. Everything that can be a token, will be a token. This trend is accelerating because the largest capital market in the world—the US—is finally has a pro-token regulatory environment. (Using coin and token interchangeably here.)

2. If you create digital media, you can immediately can earn money. No bank account, payment process or platform (Zora contracts are a protocol).

3. Additionally, if you create digital media that goes viral, i.e. captures internet-scale attention, you can make a lot of money. Traditionally the only beneficiaries of internet-scale attention are the web2 social media platforms—they monetize via attention (time spent) and they minimally share the upside with the creators.

4. Coins (ERC20) are the most composable primitive in crypto. Order of magnitude more than NFTs (ERC721). Leads to weirder / emergent use cases.

5. Zora open editions fee distribution stack is underrated for curator / app layer monetization.

We will see trillions of tokens in the coming years

Less than 1% of all the tokens that will exist have been created already. 99% of tokens have yet to be created.

Basically everything could be become a token.

Tokenizing all kinds of media isn’t an established consumer behavior that will grow and sustain. Maybe it becomes that but we have a long way to go. 

But the fact that real value can be ascribed to a piece of media/content and put out in the world as a public market that anyone can interact with is very interesting.

I love the experimentation.

just coin it.

Stay Curious // iixii // Head of Crypto at https://www.lazertechnologies.com/  // Prev: CoinDesk, Roc Nation // based @basedevo

But alas the issue of fragmented liquidity/pvp that ensues.

𝘠𝘢𝘱𝘱𝘪𝘯𝘨 𝘰𝘯 𝘧𝘢𝘳𝘤𝘢𝘴𝘵𝘦𝘳.

Yeah but that’s in large part because we’re not growing the number of users

How will large number of users solve the above

As more people get active onchain then liquidity will eventually consolidate around harder assets that have staying power 

If there’s only more coins but not more users then fragmentation ensues