@sealgoodman@SBF_FTX I think it will allow for mass adoption because it shows the need for regulation and policies. Over $1 billion usd has been lost to fraud in the crypto market so I’m sure there’s still a lot of money on the sidelines that doesn’t feel safe investing in the current market.
Great take and 🧵 on the royalties by @danksince93. I agree about the marketplaces having to much leverage, but what prevents a marketplace from taking their cut from the projects royalties. If I need a merchant irl it’s atleast 3% it’s up to me if the price reflects
@danksince93 @whyarewehere42 It also ends up where fees are 2.5 market, 7.5 creator, and $30 dollar gas fee isn’t a substantial model, but 0 is the other extreme
@danksince93 @whyarewehere42 To me the issue lies where the website charges the user a fee then you have markets competing for the consumer who probably isn’t as knowledgeable as the company owners, which I feel would add risk. If you have the most trustworthy platform aren’t I gaining something being on it?
@danksince93 @whyarewehere42 I agree but going back to trust, if we trusted each other enough to do business, one person would send the eth to the others wallet and the other would send the nft and the transaction would be completed 0 cost. If that trust doesn’t exist there becomes a need for a market
@whyarewehere42 @danksince93 But a mint is through the company website, if every person could be equally trusted, or one only does business with those they trust they wouldn’t use a marketplace. Royalties come in because the marketplace allows the company greater reach than they would have without them
I rarely do stuff like this but after reading literally thousands of people’s stories this month…
I want to compile some pieces of content that have helped me navigate this crazy game we call life.
I think I’ll just keep adding to this over time.
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