Enjoy Weekly #11

So, Zora did something big. Catch up w/ the thread below, the full blog post, and the docs.

jacob on Warpcast

Today, we released a major upgrade of the @zora protocol. We are bringing secondary markets onchain with @uniswap to unlock more value for creators and collectors after a mint. When the mint ends, the market begins. It's like magic. https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/b83b4277-d528-4e16-2b6a-111529b47c00/original

This is the biggest innovation I've seen in 3 years of creating and collecting onchain. While there are a ton of creator tools used by a ton of creators, the question remains: why collect? While some collectors genuinely enjoy supporting creators and expect nothing in return, we have to be honest about the fact that it's a one-sided market. The majority of crypto users are here to make money, and it's more appealing, profitable, and fun to speculate on a shitcoin than it is to speculate on media.

Zora's protocol upgrade doesn't mean creators will suddenly find demand, but the fact that secondary markets are automated and liquid means there is indeed a speculation game to be played. Just knowing I can sell, even at a loss, is incentive for playing in the first place. It's also incentive for collecting multiple editions. 'Mint Ended' is no longer an end, but a beginning. All (new) Zora NFTs have memecoin potential.

At the time of writing, this is the chart for Zora's commemorative NFT "Limitless," hilariously tickered $ZRTK ("Zora Token"):

Again, creators won't find that their NFTs now have nearly million-dollar market caps, but a new path to growth has been paved. Zora has been a high-volume distribution game for some time. While many capital 'A' Artists have stayed away from the platform in favor of scarcity games, it would be a mistake not to reconsider.

Art is memetic (duh), and no Artist breaks through without hitting a massive threshold of attention. Selling a dozen 1/1s to a dozen collectors might work for some, but it's not an effective strategy for reaching that threshold. Not in a digital environment. Creators, capital 'C' or not, who embrace the digital context will recognize that they can capitalize on every bit of attention they receive.

We're excited af and working on some tech to showcase the protocol upgrade and prototype $enjoy-centric UI. Stay tuned to /enjoy-updates!

It just makes cents (and dollars, and $enjoy):

Farcaster

Aaron Ferguson 🎩 on Warpcast

Anyone who knows me knows that I've been saying for ages that in my opinion the NFT space has struggled the past few years because we wrongly settled into a (centralized) culture of a few big ego collectors collecting 1/1s - but when the bear hit, they were over-committed and stopped supporting artists (since much "support" was an insincere tactic to build followings for dumping their own crap projects onto). What we truly need for a healthy art scene is a large collector base collecting lots of affordable editions. This eliminates the need for artists to worry about staying on the good side of a few arrogant collectors, as well as allows them the freedom to not converge on artistic styles that they think will appeal to these few people. It also eliminates the risk of art sitting in a dead wallet as a 1/1 for eternity, never to benefit the artist again. 1/2

Talking about capital 'A' art. Personally, I believe the creator is the marketplace, but I've already yapped too much. More on that and what we're building another time:

Farcaster

LGHT on Warpcast

after sitting w it, not against /zora generalizing the mint configuration do think it shifts them more to ‘content & media’ long term tho opens up space for ‘fine art’ marketplaces

Well, coulda just dropped this in the intro:

peacenode.eth✰

@peace_node

straight forward, real, tradable tokens, led with actual content, followed with the open ability of buying & selling

“Also I’m just happy we’re adding novelty front ends to experiences that have CLEAR PMF amongst the crypto users of today”

binji 🔴

@binji_x

The prophecy has come true; open editions are now tradable via uniswap on zora network — or in simpler terms, the same energy that captivates the majority of crypto activity today (memecoins) is being replicated by Zora with open editions. Culture is the determinant of if this…