From Paragraph xyz by Chris Carella
“I'm about to release a token. You probably shouldn't buy it. It probably won't make you generational wealth. I'm not "dev". I'm not "still working on it bro". So why am I doing it?
This will be an experiment and I will not completely abandon the token but instead explore different ways to weave it into my onchain persona.”
I genuinely didn’t expect anyone to buy it. My experience with memecoins is that if you state an intention like this or distance yourself from it, it tanks. I was perfectly happy with no one buying it, I really was doing it for the Provence. Turns out that telling people not to buy something is actually good marketing. It had a small run up to $1.2M and was the top token on DexScreener for awhile before it crashed back to earth.
I first told a small group of friends about my intention that really sums up why I wanted to do it.
This was the post. I then saw someone use Ted’s likeness, anonymously (gross). Then 2 products, Anonfun and AIAnon were tokenized but not by the creators. After I launched someone created $bankr but it was not its creator. Finally someone created another token in my likeness, and then tried to use it to create a bounty to make people say bad things about me. Weird but OK.
I’ve been thinking about this tweet by Jacob:
and this cast by BenBodhi
and even this video segment by Black Rock CEO Larry Fink.
If everything is going to be tokenized, that will include your likeness and if anyone can tokenize anything, you should tokenize it first. This is the main point of this post; everything will be tokenized but maybe not by you.
The second point in my initial cast is just that I’m going to use this as an opportunity for learning about what it means to tokenize your likeness. I’ve learned a ton today. I launched my token and the price went up so quickly (bots), that I couldn’t even grab my own token until much later. I never intended to sell my own token but only after deployment realized the reward you can get from clankers LP pool (40% of 1% of your total volume) can be very significant. This is totally a way to do a creator coin or to fund ideas. It gave people ideas [1] [2] which in turn gave me new ideas about the future of tokenization.