Hello future BitClout gazillionaires,
Let’s be honest. Anyone sauced yet? Probably not as sauced as @HuntSauce was at the airport yesterday ✈️. It’s okay, you’ll have every opportunity to get there in this Happy Hour.
Speaking of things that are taking flight, it was a HUGE day on BitClout, featuring AMAs from @diamondhands, new details on NFTs, and a whole lot of love going around with the conclusion of the @Cloutted x @jakeudell 20k contest.
So make sure you’ve got a designated driver and plenty of fuel for your rocket ships folks, we’re going HAM tonight. Lez get it 👇
Guest cover design by @sashamarren 🐯
Bits on the menu tonight:
Diamondhands’ drops 💎
Alrighty, before we all get too boozed up, let’s have exclusive look at today’s movers and shakers, brought to you by @bitcloutsignal:
Next up, as you get going on your first round of drinks, here’s a daily round up of top projects on BitClout from our partners at @BitHunt:
#2 Ubiquitous UX Drops: (N)ew (F)riday (T)eases 😏
Who’s that sexy specimen making heavy eye contact with us from across the bar? Doesn’t matter, we only have eyes for the details about NFTs on BitClout 👀👀👀 (well, and for @lazynina, of course).
You’d have to be really late to this party to a) not know that NFTs are coming to the BitClout blockchain b) not have seen a sneak peak of the ‘Mint NFT’ screen making the rounds on your feeds today. But hey, if that’s the case, here’s a drink and shot 🥃, we’ll get you caught up.
A lot of the progress on NFTs has been made in the past 24 hours, thanks in large part it looks like to @redpartyhat, who has furiously posted a slew of updates on github (and thanks to @JamesHarbal for keeping an eye on all of it for us 🕵️). Very fitting for one of the party hats to show up for our Happy Hour edition! What’re you drinking, @redpartyhat? Oh you don’t care as long as it’s in a red-solo cup? Whatever you say 🥤.
One unique feature that ‘clouters are particularly excited about for NFTs is the ability to pay ‘royalties’ to coin holders with profits from NFT sales.
Previously we’d written about this feature as a potential red flag because of how it could be construed as a form of dividends. This in turn could be used to make a case equating our social tokens to more strictly regulated securities, like public equities that pay quarterly dividends to shareholders. 👋, SEC. This week, we’ve even seen ETF managers on BitClout transition their funds away from a dividend based model for exactly this reason (@GoatInvesting is one example, for instance).
The way NFTs on BitClout will allow creators to remunerate coin holders is different however. Rather than pay royalties in $clout, the % of profits specified to be paid back to coin holders will be used to burn the creators’ coin 🔥🔥🔥. What does this accomplish? In the same way the deflation bomb limited total $clout supply, burning creator coins decreases available supply of a creator coin, raising the value of other investor’s stakes and creating a permanent price floor. Said differently, with these permanently burned coins or ‘locked’ funds if you will, your coin will never go to $0. Bet Lehman Brothers wishes they’d been around for this financial innovation 🐻📉.
With the NFT functionality drop tantalizingly close, the pivotal question still remains… Wen? Fourth of July fireworks, anyone? We wouldn’t put it past this cheeky crew of devs at this point 🎆…
#3 Wen AMA? Today!: Pouring ⛽ on the ️🔥
(*queues up When a Fire Starts to Burn by Disclosure on the loudspeakers*)
Looks like @diamondhands ate his Wheaties this morning. BitClout OGs like @davidsun and leaders on the dev front like @tijn have clamored for an AMA with the core BitClout team for weeks now. Today, @diamondhands did his best to … answer every single question that’s ever come up (read it here).
It’s well worth spending some dedicated time with this FAQ over the weekend. For many of us who have come to love BitClout, it’s encouraging to see that the core team has a plan to supercharge BitClout’s growth and to pour proverbial gas on the fires of our passion for the platform 🔥🥵. (OK, @nvo, crank the wordiness meter down a few notches, will you?)
If you’re a BitClout power user, you can skip to section 5 titled “Community Questions”. We will offer you some of the ‘money shots,’ i.e. passages that are worth reading in full:
Gas us up, daddy @diamondhands! ⛽🔌
#4 The Cloutifieds: @jakeudell makes it rain 💰 & ❤️️s with help from @cloutted
The moment is here, folks. What better time to announce the WINNERS of @Cloutted’s $20,000 competition than when we’re all together in this fine Happy Hour. Well, actually there was a LIT clubhouse session that happened right before we pushed this issue live where the announcements were made. Which was super beautiful btw; people’s lives changed as we listened, the positive energy was palpable… ain’t no crying in the club tonight 😤🔝💪.
In case you need a quick primer, the @Cloutted competition invited BitClout users to share their stories and BitClout experiences in response to three simple prompts:
- Before I was #Cloutted…
- Since I became #Cloutted…
- And now, with BitClout, I will…
All entries included the @Cloutted hashtag, which made them easily searchable on Cloutted.com. With a $20,000 pot split across 19 winners, the contest garnered over 350 submissions 🤯.
Without further ado, here are the top 3 winners for the @Cloutted competition! Drumroll please… 🥁 and get that champagne ready … 🍾
- @Matreshka: The patron saint of @NachoAverage and really of BitClout as a whole, @Matreshka has worked tirelessly over the past three months to build an inclusive community on BitClout. Her contributions are immeasurable, and her #Cloutted story deepened our appreciation for her even more, (didn’t think that could be possible tbh). You can read it here. Congratulations, @Matreshka 🤗! Bottles on us tonight 🥳.
- @Sandstorm: We first had the pleasure of meeting @Sandstorm in one of our weekly @BitsTODAY podcast recordings on Clubhouse. Little did we know then how inspiring @Sandstorm’s story is. Plus, @Sandstorm wowed the @Cloutted judges with her completely unique video submission, which we strongly recommend y’all watch (here).
- @Ghozt: Our brother from another mother! @Ghozt’s submission was a masterclass in vulnerability and beautifully charted how art, NFTs, and BitClout have come to play an important role in his life. Sending love ❤️, @Ghozt! @nvo will come party with you in Berlin in a few months 👊.
OK, maybe there will be a lil crying in the club tonight 😭. Tears of joy and appreciation only, tho. Here’s one example from one of the other winners:
What an amazing crew in the winner’s circle 🥇. For a full list of the other 16 winners, please see below. We’ve also added links to their stories and profiles at the bottom of this issue 👇👇👇.
Let’s raise our glasses 🥂 to all the stunning submissions in the @Cloutted contest, and of course to the @Cloutted team themselves for putting on such a thoughtful contest. We’d also like to thank all the judges who spent hours poring over entries! Three cheers for @craig, @jakeudell, @100, @Reade, @amandajohnstone, and our very own @ASG. Y’all did yeoman’s work!
One last thing we’ll say? It’s amazing to see all the international representation in this winner’s circle, too. We’re going global, baby!
#5 @BitsTODAY Op-Eds: Public discretion & social media on the blockchain 🙈
As part of our new F.N.H.H tradition, we’re excited to feature another op-ed! We love letting the community take over the 🎤 and to opine on topics that are important or interesting to them, especially when we’re all gathered together here on Friday Night’s. For the second week running, let’s hear from @joshua_cottrell. Thanks for being a regular contributor, JCS!
Lately I’ve been wondering about privacy and discretion on a platform that is almost 100% public. The only private element on BitClout is the encrypted content of DMs. Everything else is fair game: It will be publicly available for as long as the platform exists.
Still, even though all this data is publicly available, we don’t all have access to the same insights from that data. In the giant sea of transaction-level data that makes up the blockchain, having access doesn’t necessarily equate to having an advantage. Data at this scale isn’t valuable by itself either, you need to pull actionable insights from it before our tiny ape brains can make sense of or use for anything 🦍. We need tools to summarize it into ‘bit’ size (i.e. comprehensible) pieces. Hence why some of the best funded projects on BitClout like @BitCloutPulse and @BitCloutSignal focus on helping users do just that. Still, facility using these tools come easier to some users than many others.
There’s also a lot of data that may be public but people simply aren’t looking at it. If someone buys your creator coin, that action is publicly available, but there’s a good chance nobody is taking the time to look at your personal creator coin activity (other than bots 🤖). In these situations there is some level of expectation that an action is done with discretion, even though it is technically all in the public domain. One example of this is when bot accounts post creator coin transactions notifications (e.g. X just sold $Y of their own coin or of someone else’s coin). People frequently seem to get upset by these notifications and even get a bit defensive. “I’m not a rug puller, I sold because of _____,” is a common refrain. Clearly, people don’t like that this information is being amplified, even though we all know it’s technically public.
I personally have chosen not to announce when people buy or sell my creator coin because I don’t know whether or not my buyers want that information amplified. My choice to share that info is less about its public availability and more about whether or not that information is something people want attention brought to. Social media on the blockchain is an entirely new concept and we are building a whole new set of social norms for using it.
Alrighty gang, last call for alcohol! Or diamonds. Or investments in @BitsTODAY. JK, our cap table is always open for you 😉. What a wonderful night it’s been, especially celebrating all the wonderful @Cloutted stories 👑. Get home safe now, and we hope y’all have a tremendous weekend.
The @BitsTODAY squad
FULL List of additional 15 @Cloutted winners :)
- @DerishaViar | submission here
- @joshua_cottrell | submission here
- @ClayPerryMusic | submission here
- @Boruto | submission here
- @Himanshuloh | submission here
- @AgustinOlmedo | submission here
- @Menajem | submission here
- @TrishaYbañez | submission here
- @Wendyleigh | submission here
- @LucasJakson | submission here
- @ScottCo | submission here
- @MemeGod | submission here
- @cyd_beryll_jardenil | submission here
- @Gabrieldisante | submission here
- @dripcult | submission here
- @KatGarcia | submission here (post with most reclouts)!