Joystream / Joystream/joystream

Idea: Coordinated buying of social tokens / NFTs

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Description

Although the current design allows individuals to buy social tokens, there is no facility for participants to group together and "invest" in channels. This might be something that could be implemented in Runtime DAOs or some other way.

Purpose

Users coordinating purchases of content they are fans of has been documented as happening on a significant scale with some bands:

On the July 24 chart, “Permission to Dance” debuted at No. 1 with 140,100 total sales, according to MRC Data, with “Butter” falling six spots to No. 7 and Rodrigo’s “good 4 u” holding at No. 2. But then, something highly unusual happened: The next week, “Butter” returned to No. 1 (leapfrogging Rodrigo and others) and switched places with “Permission,” which slipped to No. 7.

Rodrigo’s fans claimed that it wasn’t a coincidence. @scrappyseal, noting the reversal, tweeted that BTS had “0 GP [general public] support. A real smash is sustained by the GP support.” Another fan of both Rodrigo and Lipa’s, @lipaanostalgia, described BTS as having “fraudulent ways” and its fans as “involved in chart manipulation” and “mass buying.”

ARMY’s crowdfunding efforts are certainly near legendary at this point. As screen grabs of account balances and bulk purchase receipts on Twitter reviewed by Billboard show, BTS fans use PayPal to pool money from ARMY around the globe and make the purchases that will count toward U.S. sales. “ARMY WHERE ARE YOU??” @borakore52 asked in an Aug. 5 tweet. “I have enough for 448 sets of 16 PTD plus 24 Butter!! Even if you cannot buy until later, please get your requests in ASAP!!”

https://www.billboard.com/music/music-news/bts-billboard-cover-story-2021-interview-9618967/

This behaviour exists by fans just for creators that they like, but since it is extremely difficult to invest in a creator, it makes perfect sense that people will want to coordinate their purchases of tokens. They may be interested in certain niche categories of videos, or invest in bigger channels.

Example

An example:
https://www.youtube.com/channel/UCrshtfBbSM3F9YE8OrZx8DA/videos

This is an auto-generated channel in which YouTube automatically uploads dozens of music tracks per day. The metadata and other information is automatically included. On any given day there are dozens or hundreds of tracks that are uploaded. It contains about 157,000 videos.

The majority of new videos have either no views or minimal views. If a group of discerning people joined together and constantly monitored new uploads on the platform and identified videos they felt had a high probability of being successful, they could easily invest minimal amounts across hundreds of videos per day.

Similarly, the group of users may monitor new uploads in specific categories, or with specific keywords and systematically invest in creator tokens by this method.

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Contributor guide

No contributing guide indexed for this repository

First steps

  1. Read the whole issue, then the project's contributing guide.
  2. Comment on the issue to say you are picking it up — it saves two people doing the same work.
  3. Fork the repository and make your change on a branch.
  4. Open a pull request that references the issue number.

Research direction

Start by reviewing the current social-token design and the Runtime DAOs mentioned in the issue. Establish how participants would coordinate purchases and invest in channels, then define the scope and acceptance criteria for a workable facility that supports the described use cases.

Written by the indexing model from the issue text.

Assessment

Tech stack
blockchain
Domain
blockchain
Issue type
Feature
Difficulty
5/5
Estimated time
Over a week
Activity status
Stale
Clarity
Needs clarification
Newbie friendliness
20/100

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