As expressed in last week's issue, I’m a big fan of Zora’s protocol update. This sentiment is not universal...

santiago

what will @zora do to earn artists' respect back

No question mark? Ouch. I believe automated, liquid secondary markets with creator earnings are a game changer, but I'm also paid to dig deep and realize that there's a lot going on here. It's not obvious that the new protocol is good news.

The crux of the pushback seems to be thirty-cent mints. At face value, the number seems pathetic. Insulting even. But it enables accessible token markets without upper limits. In a world where most question the value of digital assets, a nearly-free entry point makes sense. I can mint one edition, providing a boost to a token's distribution, or a thousand editions, ensuring significant control over a token's market. Allowing a spectrum of patronage is dope.

We could discuss the effectiveness of Zora's communications, but the reality is that creators (and collectors) need to see and experience the value first-hand. And maybe they won’t. Maybe the upgrade is destined to be a failed experiment. It will take time to tell.

I’m willing to sacrifice my skin and participate in the experiment by minting a body of work on the new protocol. I’ll collect a bunch of editions of each token to provide liquidity and stability post-mint and evaluate after a couple of months. My hypothesis is that an always-on market will allow me to grow and capture value more effectively than before.

Team Enjoy is also bought in. I’ll share more about our roadmap soon, but the below graphic from Zora kinda covers it: it’s our directive to facilitate enjoyment. We’ll create tools, incentives, and reputation around curation. $Enjoy is the unit of energy that will power these systems. Discovery remains a very real problem, and we believe $Enjoy is uniquely positioned to help solve it.

We’re almost ready to start testing these theories. A significant update to enjoy.tech is imminent. Follow /enjoy-updates on FC or our X account and turn on post notifications to ensure enjoyment.

I sympathize, but also feel that price discovery for onchain media was nearly impossible in previous metas.

𝙎𝙖𝙗𝙖𝙩𝙤

@sabatobox

Seriously, plz stop doing this

you arent building a new audience on these apps as much as they say you are. And spending time making or deciding which work is worthless enough to give away for free is no way to be an artist.

Lucasoxx

@lucasoxx_

Artists creating incredible pieces on these shitty social media dApps... So sad! Having to publish only for 24hs and getting cents for each edition... We need a better place for art

chaim has covered Zora's protocol upgrade closely. This thread includes a helpful explainer and links to additional thoughts.

chaim

@matthewchaim

Zora [@zora] released a protocol-wide upgrade last Wednesday which introduced 2 major updates: a completely redesigned secondary market mechanic, and a new mint fee.

New Secondary Markets

The big update is what happens when the primary mint ends. Instead of having an order-book…

Funghi has been on fire recently tbh.

funghibull

@funghibull

Something I'm noticing from people commenting on the various social + minting apps:

Sentiment: “I don’t want to have to try and grow a following on all of these disparate platforms”

Reality: Fair lol but — not quite the full picture. With all of these apps, you're growing a…