5 ms·
> This is really just the same as saying they raised money to pay creators, but that wouldn't sound so innovative. Well the innovation, likely, is in the fact
by CPLX 9y ago
> This is really just the same as saying they raised money to pay creators, but that wouldn't sound so innovative.
Well the innovation, likely, is in the fact that they raised the money via an almost certainly illegal pyramid-style "investment" medium.
- ojr 9y agothey added an asset to the market that has no intrinsic value other than to help the company that created it and to fuel the market making bots that run rampant on exchanges. There is some social utility to this
- badloginagain 9y agoIs it a pyramid though? The money doesn't all flow to one place. Content creators 'earn' Props and can convert to traditional currency. The platform loses traditional currency in this case.