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Buying Tokens from creators

BunjamanAug 16, 2019, 10:43:49 AM
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A lot of creators see Minds as an alternative income source or a way to get greater exposure. Personally I came because I thought it cool to have Patreon like features incorporated in  a social media platform a kin to Twitter (this was before the introduction of the token). Fast forward a bit and they removed the ability to wire real money in exchange for the new crypto token. This made Minds unreliable as what I think drew a lot of people here in the first place. Being able to boost "for free" is nice and all but it doesn't pay the bills which is the ultimate dream of any creator; Being able to do what they love full time. If you're a somewhat well known creator people will wire you tokens and you may end up with a lot more than you know what to do with. So instead of having them accumulate in their wallets here is my proposal. Letting creators sell off their tokens to their followers. Right now you can buy Tokens directly from Minds and it'll cost you $1.25 so I'm thinking creators could make a pool of tokens for sale and sell them for $1 per token. This would do two things. Giving people an incentive to support their favorite creators because they also get something in return and they save money doing it as opposed to buying them directly from Minds. This also creates a different revenue stream for creators giving them an actual incentive to come join Minds.

This feature could potentially hurt Minds financial situation UNLESS they take a 5% transaction fee like Patreon does. It's a small enough amount to not hurt the creator selling them but high enough that on a large scale it would be profitable for Minds. It may even be better since this feature would incentivize more creators to join, bringing larger audiences here, and thus more money circulating in the ecosystem.