1/ here's a system which could work (you prob won't like it):

users bid up to the amount they are paying for a game/art drop, after viewing generated samples

the highest bidders (numbered up to the series count) are able to mint (could be at lowest bid if desired)
2/ first, some might view this as being "too greedy" and detracting from the art or game

imo, this could be mitigated with an agreement to donate some proceeds to charity

i'd still rather the artists or a charity get it than flippers, some paying 0.5 ETH to make many multiples
3/ second, pricing in this way upfront would likely hurt secondary market liquidity, velocity and perhaps "hype"

though a "benefit" is that people who paid to mint might actually be more inclined to keep their art, rather than flip it immediately for profit
4/ third, some people will feel like they got "cheated."

they'll put in a high bid to get in on the drop, get their piece, and think it sucks

with current fixed cost minting models, not a big deal if the cost is low, but could become one if cost goes up
5/ i don't have many answers, but given the returns some are earning out there and the increasing quality of work, you can expect the bots to just get better

a problem we all need to think through much, much more deeply in the on-chain art and collectibles community

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More from @iamDCinvestor

1 Mar
1/ we have new participants entering #Ethereum, first from #DeFi, but increasingly from #NFTs

many highlight concerns on energy consumption from Proof of Work blockchains like #Ethereum & #Bitcoin

let's talk about it, and how we'll move past it in #Ethereum Proof of Stake 🌳👇
2/ first, it takes a tremendous amount of energy to secure a Proof of Work (PoW) blockchain

PoW blockchains are secured by computers (mostly graphics cards and specialized hardware known as "ASICS") from "miners," solving a work-intensive math problem for every block produced
3/ the total "miner" contribution of this energy/computational power is known as "hashrate"

the "winning" miner who solves each new math problem first gets to produce the next block, and receives a block reward (in ETH, BTC, etc.) and any fees paid by users within that block
Read 13 tweets
1 Mar
1/ yes, the celeb #NFT thing will be a huge bubble, and at some point, people may start to *hate* new releases and become jaded by them

the near-term benefit for the adoption of #Ethereum is many of their fans may be compelled to buy $ETH and use Ethereum for the first time ever
2/ but some celebs won't be able to resist the low-effort cash grab

some firms are making it easy for them- doing all of the work for them and just sending them a check for their licensed work

would you buy a SouljaBoy lunch box? no?

but some would buy the NFT apparently
3/ this will be free money for these folks while it lasts, and in truth, it could last for a while

but keep in mind that if the creator is too prolific with low quality work, then expect all pieces from that creator to plummet in value one day (esp if B-list celeb)
Read 7 tweets
28 Feb
1/ the top 2 new #Ethereum L2s to watch for March / April are @optimism and @Immutable X

both of these will scale Ethereum in crucial ways which the market is hungry for

there are also other promising solutions, some already live, but let's explore these two

thread below 👇
2/ first, @optimismPBC is expected to launch on mainnet, with arbitrary contract deployment, IN MARCH 🥳

still TBD on how much work app devs would need to do to make apps work on Optimism, but this could be huge

medium.com/ethereum-optim…
3/ if it's as simple as "copy-paste" for apps, i believe we'll see many widely used apps establish instances on Optimism in the near-term

this would effectively create a parallel, very high throughput Ethereum ecosystem

this may take real pressure off of L1 tx demand too
Read 13 tweets
28 Feb
1/ i'll always offer a counterpoint for false narratives, b/c it's important to be honest

rampant gaslighting aside, the economic utility of Ethereum is unfortunately too strong. demand is too high

and it may KEEP growing faster than our scaling efforts can deliver for a while
2/ e.g., even now, every economic tx in the world where $35 is an acceptable fee *could* try to use Ethereum

we can't stop them from coming

then, fees go up b/c $100 acceptable fee txs arrive en masse. they get pissed

what if the cycle keeps ebbing & flowing?
3/ part of me wonders if it does go on forever, even after L2

but the reality is no chain has solved these issues while maintaining the value prop of blockchains (true decentralization)

they work now, b/c they aren't used under load, maybe b/c value prop isn't clear
Read 5 tweets
22 Feb
1/ guys, if you want me to always say "hey, any L1 could come in and replace #Ethereum b/c it has lower fees," OK

but these type of takes just ignore accrued network effect and how value networks agglomerate

establishing those things are actually harder than scaling Ethereum
2/ i don't expect you all to agree with me, but know i'm not trying to pump my bags or FUD others

any take i offer you is based on my ACTUAL opinion. you can agree or disagree

and yes, i still think buying L1 tokens for platforms which haven't proven much is a bad idea
3/ you should feel free to ignore me, or label me a Maxi, or whatever is convenient for you

i'm not anti-multichain

i'm just pro-reality

i realize some think it's not "fair" that fees are very high, but as a permissionless blockchain, #Ethereum doesn't evaluate "fairness"
Read 5 tweets
22 Feb
1/ i've now completed initial collections in #NFT projects i think will be remembered as truly "historic," including:

CryptoPunks
Autoglyphs
ArtBlocks
EulerBeats
Uniswap $SOCKS

also Squiggly, HashMasks, and Colorglyphs

now is a good time to revisit some theses (thread) 👇
2/ first, i did a similar thread a week ago, but have since refined my views

it might be worthwhile to go back read that first:
3/ second, and i can't stress this enough:

DO NOT FOMO INTO NFTS WITH MONEY YOU CANNOT AFFORD TO LOSE

buy to collect for the long-term. imo, some of these will become priceless pieces of history, and most of you will sell them way too early b/c you're overextended
Read 30 tweets

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