life after memecoins. i have an idea, hear me out:
i think we can build an attention economy on top of open editions.
let me explain.
we formed markets around the variations of erc-721s, some metadata was valued more than others (i.e. hoodie punk is better than mohawk punk).
they were more expressive and created new status games on the internet, which made crypto fun because it pushed it into mainstream culture.
but the problem is the jpegs are far less liquid.
so we went back to trading attention around erc-20 tokens (aka coins). the coins could be bought and sold a lot faster and with less effort.
but what we gained in velocity and liquidity, we lost in social expression (the thing that arguably made nfts so fun).
so here we are on two extreme ends of the degen spectrum.
but what if there was something in the middle? pictures with high fungibility that can be traded like shitcoins but also let you visually express your taste.
what’s the difference between trading $wif and trading a million erc-1155 pictures of dog wearing the hat?
i’ll tell you what the difference is. with 1155’s we can trade actual media like shitcoins.
boom. that’s it.
now instead of trading tickers, we can not only trade memes but we can trade ART, MUSIC, WRITTEN ESSAYS, PRODUCT ANNOUNCEMENTS or whatever the fuck else we’ve been minting as worthless open editions the last few years.
and we can trade them at the same velocity as highly fractionalized tokens that alsooooo have the visceral material that we can connect to emotionally (a fancy way of saying “jpegs” basically).
how fucking cool would that be?
why can’t we create market makers for a @jshorne essay, a @jackbutcher or @0xlght art piece, an @rac or @imdanielallan track, a @ufo__club or @chaserchapman podcast episode, those creepy looking @farcaster_xyz protocol upgrades?
we should normalize minting onchain media with a supply in the bajillions so they have the liquidity of these lame coins we’re sloshing money around in.
the thing that’s missing is a user-friendly marketplace or AMM protocol, an idea i’ve explored before and honestly thought was really stupid until now… 🤔
it adds another substantial dimension to this attention economy that we're all trying to create generational wealth in.
that added dimension creates space for culture, all kinds of culture, especially the ones that transcend crypto twitter.
it opens up the market for all kinds of creative output.
and gives power to tastemakers, curators, and tribes and gives us the chance to relate to one another via ownership again.
designeverydays
life after memecoins. i have an idea, hear me out:
i think we can build an attention economy on top of open editions.
let me explain.
we formed markets around the variations of erc-721s, some metadata was valued more than others (i.e. hoodie punk is better than mohawk punk).
they were more expressive and created new status games on the internet, which made crypto fun because it pushed it into mainstream culture.
but the problem is the jpegs are far less liquid.
so we went back to trading attention around erc-20 tokens (aka coins). the coins could be bought and sold a lot faster and with less effort.
but what we gained in velocity and liquidity, we lost in social expression (the thing that arguably made nfts so fun).
so here we are on two extreme ends of the degen spectrum.
but what if there was something in the middle? pictures with high fungibility that can be traded like shitcoins but also let you visually express your taste.
what’s the difference between trading $wif and trading a million erc-1155 pictures of dog wearing the hat?
i’ll tell you what the difference is. with 1155’s we can trade actual media like shitcoins.
boom. that’s it.
now instead of trading tickers, we can not only trade memes but we can trade ART, MUSIC, WRITTEN ESSAYS, PRODUCT ANNOUNCEMENTS or whatever the fuck else we’ve been minting as worthless open editions the last few years.
and we can trade them at the same velocity as highly fractionalized tokens that alsooooo have the visceral material that we can connect to emotionally (a fancy way of saying “jpegs” basically).
how fucking cool would that be?
why can’t we create market makers for a @jshorne essay, a @jackbutcher or @0xlght art piece, an @rac or @imdanielallan track, a @ufo__club or @chaserchapman podcast episode, those creepy looking @farcaster_xyz protocol upgrades?
we should normalize minting onchain media with a supply in the bajillions so they have the liquidity of these lame coins we’re sloshing money around in.
the thing that’s missing is a user-friendly marketplace or AMM protocol, an idea i’ve explored before and honestly thought was really stupid until now… 🤔
it adds another substantial dimension to this attention economy that we're all trying to create generational wealth in.
that added dimension creates space for culture, all kinds of culture, especially the ones that transcend crypto twitter.
it opens up the market for all kinds of creative output.
and gives power to tastemakers, curators, and tribes and gives us the chance to relate to one another via ownership again.