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Many tokens in the wild today were launched without considering the user. Other tokens bundle too many “jobs to be done” into a single asset, muddying the value proposition like a feature-packed product that tries to be everything to everyone.

If the need to issue tokens as rewards outstrips token buybacks, Braintrust will still pay out of the treasury, but if they’ve designed the system right, that means they’re only increasing the circulating supply when participants are doing what the network wants them to do even beyond what client fees can afford to pay down...  It’s like if Uber... See more

This is the purest form of speculation. When you invest in a stock, that company can utilize that capital to achieve something. Money bet on a creator’s reputation doesn’t actually help anyone achieve anything[bi][bj]. Instead of someone going to create value on their own, they're betting on someone, but not actually betting on their projects or... See more

The proliferation of crypto guilds, communities and esports leagues around these earn-first games are evidence that earning opportunities are key to these games. Guilds like YGG and Merit Circle (which just raised $100m+) only exist and are trading at large premiums because of the earning opportunities that are offered within the earn-first games... See more