even with just
that litlle bit
that you can miss -
buy this coin and
you can be
our exit liquidity
Earlier this week I launched a new coin. Yes, I know, "do we really need another meme coin?" Unlikely, but still I want to give this a go. I've experimented with coins a bit, and have not really found a way to make them work from an artist perspective. Content coins, writer coins, it has come to very little.
This one, though, is a little different. One of the challenges artists that use blockchain technology have - and to be honest: most artists have - is that people do not really see art as a valuable thing to exchange for money. In crypto circles, people do like art, but they rather spend their money on trading. I once learned of a nice way to describe crypto circles: they are like resorts. You enter through the casino, where a lot of people stay, but there is also the spa, welness and other areas that are worth your time, where less people hang out, but which still have valuable things, such as wonderful conversations, charity and, yes, art. These areas are not very profitable, despite their value. The casino is where the resort makes its money.
The resorts in this analogy are places like Crypto Twitter (CT) and Farcaster. I prefer the Farcaster resort over CT, personally, as I believe the conversations are better there than on CT. More balanced, more honest, more respectful, more open-minded and less shilling. So, that is where I focus my attention and where I launched my coin.
The idea of the coin is to let the people in the casino play with it. When you launch a coin, that already starts with bots called snipers doing the first trading and earning the coin creator rewards. Consequently, there are basically two mechanisms that can deliver value to the creator: trading fees and exchange rate.
For every trade made with the coin, the creator gets a fee. More volume in trades means more fees. So, the more people in the casino play with the coin, the more fees the creator receives. For my new coin, I've directed 90% of these fees to my trpplffct poetry fund. Every trade helps me to support onchain poets that way.
The other mechanism is much more volatile. When people buy the coin, the exchange rate goes up, making holdings more valuable. That helps poets, because from my intial trading fees, I airdopped 1 million of my coin to 37 poets I know who have been active on Farcaster. If the number of the coin goes up, the value of that airdrop goes up. That is a bit of a gamble, but that is precisely what the people in the casino like so much.
Will this work? I don't know. But if all of you spend as little as 1 Euro on buying some $SPCYPTRY, you will be supporting onchain poets, and you might, like the 37 poets on Farcaster, get rich quick. And of course: nfa, dyor. Or: this is not financial advice and you should do your own research.
Enjoy your stay at the resort. Send us a postcard.
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Arjan Tupan is writing poetry, podcasting and incubating empathy
Entrepreneur, dad, European, story teller, poet. Curious, too. I tell stories on different platform and using a variety of tools. Sometimes I explain how I do stuff.Most of my content is free of charg
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