There are three definitions for the word founder | ˈfoundər |.

  1. (n) a person who makes things from metal, operates a foundry
  2. (n) a person who establishes an institution or settlement
  3. (v) to fill with water and sink, break down, to succumb

Definition #2 is the one I'm talking about. Who will they be? How will their role evolve as the community takes on a life of its own? 

We know they will have contributed 60+ NEO in the token sale. They will have advantage of taking the first crack at Niche ownership. They will receive a 10% bonus for any activity points they accrue (for the life of their account). They will also have exclusive access to the Narrative team, gaining more insights into the development and strategizing of the network as it goes to launch. (see white paper, p7)

I'd like to think that Narrative's Founders aren't all just the sum total of their 60+ NEO contribution. I'd like to think some of the founders are literally breaking the bank to invest deeply, because they believe in establishing an institution with a core set of beliefs built upon #newcontenteconomy thinking.

As the first Niche owners (potentially), the topics they choose to champion will bear the first fruits of the Narrative Network. Their recruitment, encouragement, and leadership will set the stage for whatever follows. Some founders, I'm afraid, will try to flip their coin as fast as they get it... they don't have the NRV to push in to the frontier. Their names will likely not go down in history.  

But those that have the NRV to lead, what will history do with them? Will their faces be carved in pixels on the blockchain? Will school children give speeches in history class about the Founders of the New Content Economy? Will we brag about how our great-great-great-grandmother had the foresight, the nerve, to take a risk? Will they be parodied by pop-culture... Simpson's 239th Season?

They are teeing up for first shots... make it a good one.


Original Post

Thanks Bryan, really like your post and your humor!! but its interesting how you have put expectations of founders but im afraid they dont have to do much after purchasing the niche and getting moderators in place oh and renewing the niche. expecting more is not in the deal. but im in the same boat as you mate will we get the niche we want... : I

I find the Founder concept too narrow and financially focused to be honest, I of course understand and appreciate the economic reasoning behind rewarding those who invest the most money and who invested and backed the idea of Narrative early; I just feel the network will grow and flourish because of the content creators and the communities they shape and may end up having little to do with the person who bought the flag and stuck it in the ground.

I am really excited at the prospect of a network created to reward those who drive its narrative by sharing theirs, I hope that the Founders are what we hope for and not what my scepticism fears!

Make us proud!

N.B. One concern behind my scepticism is the auction process for Niches, I don’t want to see creators and passionate community members losing their narrative to people with more money and little else.

Although it may appear I am needlessly whinging, I would really love to hear why I have it completely wrong; enlighten me, please?

First, keep in mind that Niche owners shouldn't be "absentee landlords," they can contribute content to their own Niche.

Regarding the auction process, Ted gave a great answer elsewhere that I'll plagiarize here since he summed it up so well:

We actually feel the system we are going with is the fairest possible way to do things.  If we only charged a fixed fee, then potentially valuable "real estate" would be locked up by users for essentially pennies on the dollar.  This way, if more than one person wants a particular niche, they can compete for it fairly, using a market-driven approach. It's true that no one (not even us) knows the true value of these niches prior to the launch of the complete platform and that's why this approach is fair.  A user should only bid what they think is fair value.

In addition, keep in mind that ultimately it is the community that benefits because all revenue from the niche ownership fees goes into network rewards, to be returned to network participants.

Finally, because we are limiting the number of niches that any one user can own or bid on at any time, we expect that to reduce the amount of wild speculation. If I already own 3 niches, I can only have active bids on two niches, since there is a limit of 5 niches per user (owned or bidding on).

Thus, I would argue that the bidding system we have enacted is completely fair and ultimately beneficial for the network as a whole. If one person thinks a niche is worth $1,000 (in tokens), as opposed to the base rate of $75 (in tokens), for example, that entire fee goes into the community pot for redistribution, leading to more revenue for all participants. 

I hope that helps to clarify the thought process behind the system. We're trying to do everything we can to be transparent, fair, and user-friendly throughout the entire network. Yes, Niches like "Golf" might command a high auction price, but there will be plenty of "Rodeo Clowns" and "Rose Gardening" to go around too

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