As many of you know, I dropped a writer coin, $AVC, yesterday and wrote about it after the fact. Now that it is out there, I feel like I need to invest in it. So I think you can expect me to post more in the coming weeks and months.
The "market cap" of $AVC is about $2mm as of this morning. What that means is the current token price of $0.002 times the 1bn fully diluted number of $AVC tokens equals $2mm. I don't have all of those tokens and neither does anyone else.
Right now, I have vested into about $10k of $AVC tokens. I received an allocation of 50% of all of the $AVC coins and I will vest into them monthly over three years so if the price hangs in there, I could own $1mm of $AVC in three years. That's pretty cool.
What's also cool is many of my readers, subscribers, and Farcaster followers, also got $AVC in the airdop yesterday and they could earn real value if $AVC increases over time. This is how the airdrop was set up on Paragraph (the numbers in this image are fake, mine were very different).
So that's all good.
But there were also some snags in the launch.
This cast by Colin, the founder of Paragraph, explains one of the issues.
We discovered a bug with the the Uniswap pool's liquidity which prevented buys after a certain price threshold. We've been working with Doppler to rectify this, and the only solution was to relaunch the coin with proper params and update avc.xyz/coin. The coin's CA is
0x06fc3d5d2369561e28f261148576520f5e49d6ea
For those that previously purchased the coin, we're really sorry about this. Please sell your original position into the original pool. If you received rewards from the original coin, you can also re-claim the full amount on avc.xyz/coin.
I've also heard from many longtime readers and subscribers and followers on Farcaster that they did not receive the email to claim their $AVC. I am not going to take on the project of fixing that for everyone. I am sorry if the airdrop didn't go correctly for many of you, but I don't have the time or the energy to attempt to fix that for each of you.
Finally, some of you raised the question about people who subscribed to AVC after the airdrop and whether they will receive $AVC. I would like to make that happen but need to figure out how to avoid people gaming that. So that's work to be done and I am willing to take that one on.
So that's where my head is at right now on $AVC. I continue to be very intrigued by the possibility of writer coins as a business model for content creators who make long form content. Like me.
AVC
14 comments
The vast majority of young people here and on CT don’t know who @fredwilson.eth is. He’s a legend, old-school VC. Ever heard of Union Square Ventures? He is a longtime advocate and user of FC, and he’s here to show everyone what a creator coin actually is. He sent an airdrop claim link to tens of thousands of his existing blog subscribers, and I’m not sure if he has really promoted this on X yet. All I can say is that, if market conditions were better, this would already be at a marketcap 5x higher than it is.
@fredwilson.eth can I recommend you make your FC profile token $AVC ? You can access this in your high level Edit Profile settings, or you can do it from the main FC token page, if you go into the token menu on the top-right
Thanks. I will look into that
what’s your writing process? im fascinated by the perspective of what this can bring. thank you for the experimentation. LOVE IT
Done
What is X?
I believe he isn’t on Twitter now at all intentionally - boon for us as onchain is now the best place to find + connect with him Street any appetite to build something around AVC ? Had a patchy idea around using the coin to pay for inference that turns each article into a playable mini app game (to help understand its premise) - then had a headache trying to fathom how to bring it together and had to lie down
Is each mini app game generated on the fly?
Might be that there a few pre-existing game structures / templates, that are then autonomously selected and tweaked based on the content ?
I think @fredwilson.eth doesn’t even know about X, and I’m pretty sure he doesn’t like it either. Correct? lol 😂
I led the seed round at Twitter in 2007. And yes I'm not a fan of X
That’s legendary 2007 seed round! And yeah makes total sense you’re not a fan of X now. Also… I think this calls for a small $AVC airdrop lol 😂
And he was blogging for two decades very frequently von avc.com. So much wisdom shared. I have learnt a lot.
thx for knowing about him