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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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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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Oliver
@timewarp
Remember that's only one curator FEED your offering in that example... 1 creator could have N-number of Curators giving 0.1% of their rewards to the creator in a single post...
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Trigs
@trigs.eth
They're not getting rewards, they're getting a speculative alternative to rewards. The procoin system captures value at the $procoin layer, and rewards creators at the extractive feedcoin layer. Creators and fans of the creator/curator are the exit liquidity in this situation. You might as well call them.... Fan tokens.
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Oliver
@timewarp
Agreed that there are varying levels where value is being rewarded, however, to say creators are not being rewarded makes no sense They are being airdropped funds from all curators that they can profit from whenever they want... How is this system not more inviting towards creators than X?
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