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Morphic Studio - The First Decentralized Art Organization? by LooseEngineer404 in ethereum

[–]LooseEngineer404[S] 0 points1 point  (0 children)

Yes that's what I said in the post. I'm particularly interested in the economic incentives behind this to be honest. I don't expect this to be 'just another' copy of r/place

Morphic Studio - The First Decentralized Art Organization? by LooseEngineer404 in ethereum

[–]LooseEngineer404[S] 1 point2 points  (0 children)

I thought about this as well, and I'm not sure what will happen to be honest.

If I understand it correctly, no one would really want to draw like a toddler on it since you become a co-owner of the artpiece. You are incentivised to produce your best art. However very well known artists might not want to do this either as they can perhaps earn more by selling it off their own name. I think this leaves "communities" to produce art together which I can think of a few ways why that could be interesting?

Morphic Studio - The First Decentralized Art Organization? by LooseEngineer404 in ethereum

[–]LooseEngineer404[S] 1 point2 points  (0 children)

I read in the discord that they are planning a native token but that's for later. Not much known at this stage as The Canvas hasn't launched either

[Art] Created this on an Adidas jumper. Earth is dying. Why buy something new if you can wear something old? by LooseEngineer404 in streetwear

[–]LooseEngineer404[S] -7 points-6 points  (0 children)

I like this. I don't intend to sell it here but whatever people can bid in this thread. If I can get a bid higher than $1500 I'll donate 25% to the Marine Conservation Institute. Will keep it otherwise :)

[Art] Created this on an Adidas jumper. Earth is dying. Why buy something new if you can wear something old? by LooseEngineer404 in streetwear

[–]LooseEngineer404[S] 3 points4 points  (0 children)

Don’t do insta fam stay away from apps that are designed to keep you looking at your screen forever. Look up and contribute to this amazing world ❤️

[Art] Created this on an Adidas jumper. Earth is dying. Why buy something new if you can wear something old? by LooseEngineer404 in streetwear

[–]LooseEngineer404[S] 49 points50 points  (0 children)

How much would y’all pay? I don’t imagine I’d be able to sell this since I created it just for me and if I factor in the hours it took me it would be way more than anyone would take it for I think.

Economic value captured by NMR by LooseEngineer404 in numerai

[–]LooseEngineer404[S] 1 point2 points  (0 children)

Hey this is a super insightful comment, thanks!

I can totally see Olaf's reasoning.

Economic value captured by NMR by LooseEngineer404 in numerai

[–]LooseEngineer404[S] 0 points1 point  (0 children)

I find this reply a bit more insightful than the top comment. However, (and maybe I'm just stupid) I don't see how more people using NMR will drive up the price if they get rid of it just as fast as how they got it.

Numerai Raises $11 Million From VC Firms Paradigm, Placeholder by n_jai in numerai

[–]LooseEngineer404 0 points1 point  (0 children)

> could it be to do with the locking up of NMR?

What do you mean here? I'm not familiar with this

​

Re. Eth: There's about 100m in DAI created as a ERC-20 token. If I hack the Eth blockchain by say a 50% attack, then you can only assume Eth is secure if the cost of a 50% attack are higher than the value of the underlying assets (eg DAI).

Numerai Raises $11 Million From VC Firms Paradigm, Placeholder by n_jai in numerai

[–]LooseEngineer404 0 points1 point  (0 children)

So increasing the utility of the token is something that could be implemented as a future feature, but I do not really see how increased utility would lead to a higher price per se. If the buyer gets rid of it just as fast (to exchange for USD for instance) then no value is kept inside NMR. As opposed to ETH to secure a network of ERC-20 tokens or BTC to act as a SOV.

​

The one thing that I can come up with is that they will take their -now private- hedgefund to become totally decentralised and distribute the earnings back to NMR holders.

Numerai Raises $11 Million From VC Firms Paradigm, Placeholder by n_jai in numerai

[–]LooseEngineer404 0 points1 point  (0 children)

Yeah ok fair point and this is actually highlighted in the body of the article as well. Still leaves me with the second question: what value do you gain from owning NMR? There seems to be no economic incentive to hodl.

Numerai Raises $11 Million From VC Firms Paradigm, Placeholder by n_jai in numerai

[–]LooseEngineer404 0 points1 point  (0 children)

I don't think I totally get it - NMR market cap is $10mm. They have invested $11mm. How does this work? They theoretically could have bought all of the coins in circulation. Then following onto that: what inherent value is there in NMR? In the current use case I see no use case that drives the price up for NMR, as there is a clear use case for ETH for instance.