Tokenomics

The idea that token holders can passively extract rent without providing equal value to a protocol is unsustainable. In the long-run, token holders will likely need to be active network participants or assume some of the risk of the system to be viable. 1/

Amazon stock (or most growth stocks) is no different from "useless governance token". Amazon doesn't give dividend. Being a share "owner" is in name only, w/ no benefit except hoping other people'll bet on it too so price go up. All risk asset market valuation is mostly a meme

The future of NFTs for brands and their communities. 🧵