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"NFT" is a slightly misleading term for Mirror's model. Though the checkbox to mint is labeled "NFT" what it actually does is create 3 "editions" that can be collected 5, 50, or 500 times (at 1E, 0.1E, or 0.01E mins). Maybe these should be called LFTs? Limited fungibility tokens.
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Per my speculations upthread, this one is an attempt to do a "serious" NFT that's more than a pet rock type thing. This maze can obviously be the root of many other projects, which we may or may not pursue. How this LFT does will be a strong factor.
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So when you buy a “serious” NFT… one that’s more than a pet-rock collectible and shows signs of future generative evolution, you buy a stake in the *realized* future. Of course this doesn’t preclude wysiwyg art valuation, but the generative direction is more interesting.
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For those interested in the unit economics, in USD right now, minting this cost about $121, which is a sort of variable cost, and setting up and unlocking the split contract for Dan and me, which is kinda like a fixed cost for our future collaborations, cost about $116+$53
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An interesting thing about wallet account histories mostly show $0 actions, since most transactions are zero value contract actions, and only cost gas. You have to click through to the receipts like in the tweet above to see what it actually cost.
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It's like getting shopping receipts for $0 but nonzero taxes. Nice motif for abundance economics with nonzero Coasean transaction costs.
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Made a thread of just my NFTs on the ribbonfarm twitter account. This time, without a polite "mute this if you don't like Web3/nfts" stuff, so that's an experiment in itself. That account has 18,631 followers right now, how many will rage-unfollow? 🧐
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A thread of ribbonfarm NFTs. You can find the current index here. ribbonfarm.com/nfts/
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While I'm not exactly a people-pleaser type, I do like peace and harmony, so I tend to avoid conflict in public. But Web3 is a seriously divisive topic, and there's no way to be active in it without pissing off people, no matter how gently you tread.
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Wise person once told me: you’re always going to piss off some group if you try to do anything at all, and the trick is to piss off the right people. I have since modified to: piss off a unique set of people. If your hater list matches another person’s too much it’s just a tribe
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Something that seems trivial at an individual level but could have big implications at protocol level. Many contracts need fee-based actions to get money out. For eg, one of my Mirror edition contracts has 0.2E on it, and the withdrawal cost is 0.011664E, or 5.8%... not cheap
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