YouFolio Alpha Update.

Thank you to those of you who have been participating in the YouFolio Alpha! This period is meant for us to experiment and learn from the community.

Now that the alpha has been going on for about a week, we'd like to review it and the community feedback.

@chaoticmonk.lens provided some great feedback about the potential of bots in the future. Since posts can be collected by a bot, it's likely that almost all Creator Tokens in the future would be minted by bots and not people, which creates a problem. Additionally, he found the use of only the first minted Post as a Creator Token to seem arbitrary and exclusionary to the rest of the collectors, which is a valid concern. We've come up with a solution that should solve both of those problems and are looking forwards to implementing it and testing it, this is why we have the alpha! The solution would include an auction mechanism for all new posts, very similar to how Nouns DAO works. More details coming soon!

@danisnearby.lens has created a Creator Token gated telegram chat for @stani.lens Lens DAO, and it's been a pleasant place to discuss topics related to DAOs and other Lens ideas. This was created after the (still small) community voted for it on Tally.

@grams.lens has also created a token gated chat for his DAO and also included different ways to enter like owning other NFTs he's created on other platforms.

We've introduced holders-only feeds that the community have been experimenting with. To post to a creator's feed and to view it, users need to hold the creator's token

There have been a number of great creators on Lens who have reached out to have their own DAOs, which is great! For now we're keeping the number of DAOs very small, as YouFolio is still in alpha, but we look forward to adding more soon!

We've noticed that many of the existing holders of Creator Tokens (first NFT minted from a post) haven't been active in the community and probably don't even know about YouFolio! This obviously creates a problem when a big part of the holders don't know about the community. We're looking into a way to keep community members that have been active and redistribute ownership in a fair way to those that want to be part of the community from those that don't. Stay tuned for more info!

Overall, this week has been a great learning experience for us and the community and is exactly why we have an alpha in the first place... to figure out how to build the best product we can!

youfolio.io explained by @danisnearby.lens

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Quoting @lensacademy.lens : lensport.io/p/112193_29
@youfolio.lens Explained by @danisnearby.lens

Tired of the same old ways of collecting? Youfolio.lens by Lensport.lens is the perfect solution for you! It's an innovative way to add value to your collection of posts and enhance your social media experience.

Here's how it works:

Step 1: Sign Up

Signing up for Youfolio.io is a breeze! All you need is a handle and wallet to connect to the website, just like any other Lens app. Once you've signed up, you'll be ready to start browsing the extensive collection of creators and their "Creator Tokens."

Step 2: Token Wrapping

Browse through the "Tokens" of creators and find a post that you want to wrap. You can use the "Show Only My Items" feature to display only the items you own. If you don't own any posts that qualify for collector tokens (the first NFT minted from a post), you can try collecting one or buying it instead.

Step 3: Make an Offer

With a collectional offer, you can make an offer on any post. However, it's best to find one you like to avoid disappointment. So take your time and browse through the collections until you find the perfect post.

Step 4: Wrap Your NFTs

Once you've added the post to your collection, it's time to wrap your NFTs. Wrapping your NFTs is easy. Simply click the "Wrap" button, confirm two transactions allowing NFT spend and sending the NFT, and your post will be sent to a Youfolio contract. You will then receive a wrapped NFT that you can sell and get voting power in the DAO.

Step 5: Join the Creators DAO

The Creators DAOs are hosted on top of tally.xyz and are used to make decisions about the Youfolio DAO. By joining the Creators DAO, you can shape the future of the Youfolio <creatorname> DAO and influence how it grows and evolves.

In summary, Youfolio.lens is a new way to understand post collection that allows you to add value to your collection and get more out of your social media experience.

Useful links:

Website: youfolio.io/

Lens Profile: lensvert.xyz/u/youfolio

Contract: polygonscan.com/address/0x6A284fE22F879e860a2F4c83cF1F6DE1aAa82F59

Disable notifications on collection offers : youfolio.io/collectionNotifications
@stani.lens @youfolio.lens telegram chat : guild.xyz/stanidao

Creator Tokens will naturally arise as NFTs, not ERC20s

Why?

The real value of a digital creator is in their work, just like an artist's is in their artwork.

In the physical world, an artist's work makes up a collection, like "Picasso"... 🧵

A painting can be seen as a "Creator Token" of an artist. If an artist becomes more famous, all of their paintings rise in value.

We can expand this concept by bringing their work on-chain as NFTs. When their work is on-chain, it'll naturally form a collection.

Each NFT Creator Token took time and effort to create, and represents something tangible.

By investing in a creator through an NFT Creator Token, you're directly investing in and owning their work, which is a concept that has existed for thousands of years

With @lensprotocol, this work can now take the form of art, music, photography, podcasts, or just text.

On-chain Creator Collections will be made up of many more types of work than just art

ERC20s as Creator Tokens are an interesting idea that may work, but they don't really have a traditional equivalent the way NFTs do (there's no Picasso stock).

Investing directly in an artist's "clout" seems more abstract, so it might take longer to catch on

People know that by buying an NFT, they're investing in a piece of work, and by extension... the artist.

Stay tuned for @youfolio.lens ! It's a platform for Creator Tokens on Lens. Launching soon 👀