Two great fundamental articles. I’m going to quote a whole monster bit from the middle because it’s so succinct and so super interesting:
Rare Patrons
Given these concepts/ideas, I want to propose a variant on the usage of radical markets that combines collectibles with such funding schemes. It works as follows:
- Every musician has a single patron seat.
- Anyone can buy the patron seat (to become the singular patron & gain the privilege of being the patron).
- Upon buying it they have to self-assess the value of this seat (being the patron).
- During the tenure of being a patron, this patron has to pay a percentage fee (say 5%) of the self-assessed seat value per year as their patronage to the musician.
- At any point in time, someone else can buy this patron seat at this self-assessed value, changing ownership.
- Upon being “dethroned” as the rare patron for a specific musician, that patron earns a collectible “Post-Patron” badge, signifying that they were a patron at a certain point in history. They just join the “Patrons Club”.
- They can choose to sell this collectible if they no longer want it.
This combines the game of being a patron, with curation & collecting. Some seats might become more valuable over time as others want to own the right to be the rare patron to a musician. During tenure as the rare patron, the musician earns revenue from this patron. After the tenure, the patron earns a collectible badge that is their proof of patronage. The musician can thus grant privileges to the rare patron & old patrons.
I love this. Would work for open source projects, too! Depending on what one wants, you might have more than one patron seat or tier. It’s both virtualizing AND commodifying sponsorship / patronage!
I realize that there are pieces of this I’ve been thinking about with #boriscoin – I’m heading into 100 “first” holders that I want to give out NFTs for.
