Can Orb Land, a consulting creator platform, achieve sustainable blockchain-based content creation services with its 600% Harberger Tax?
Introduction
This interesting experimental project aims to fill the market gap for high-quality creators.
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Table of Contents
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Introduction to Orb Land
Consulting Services
Supplement: Harberger Tax
Orb Land ensures creator revenue through a high tax Harberger tax system
Creating a good monetization environment for creators
High-quality content positioning
Key activity: Finding high-quality creators
Eric Wall, the founder of Taproot Wizards, launched an encrypted economic experiment called “Orb Land,” which aims to tokenize personal consulting services into NFTs.
Orb Land provides a decentralized platform where users can browse each creator’s Orb on the Orb Land page. Different Orbs have different functions, and the current market is primarily focused on question and answer type Orbs for MVP testing.
The holders who purchase Orbs will have the right to ask questions to the creators of those Orbs and the right to resell this right. The creators need to submit written replies within a certain period of time, and the holders can also label the quality of the questions. The entire process will be recorded on the blockchain.
Currently, the platform is not open to the public for everyone to become creators. To test the market, the team has only opened four creators, namely Nic Carter, a general partner of Castle Island Ventures, Eric Wall, the founder of Taproot Wizards, Zaki Manian, the founder of the blockchain investment protocol Sommelier Finance, and Tarun Chitra, the founder of the DeFi risk management protocol Gauntlet.
How much ETH are you willing to pay to consult Eric Wall, the founder of Taproot Wizards?
To promote the circulation of Orbs and reduce speculative behavior, the transactions and ownership of Orbs are designed with special considerations. First, it is necessary to understand what the Harberger Tax is.
The Harberger Tax is a radical economic policy proposed by Arnold Harberger, which changes the definition of ownership. It mainly includes two core aspects:
The price of an asset is determined and taxed by the asset owner.
Anyone can purchase the asset at any time at the price set by the owner and obtain ownership of the asset, making the asset always available for sale.
Therefore, under the Harberger Tax system, asset owners need to consider how to set the most suitable price. Setting a high price will require a higher tax rate, while setting a low price may result in the asset being sold at a lower price, thus reducing speculative behavior in the market.
On the other hand, the Harberger Tax system can promote the circulation of assets. If the holder does not have a need for the asset at the moment, holding it will only incur additional costs. For Orb Land, this ensures that the protocol continues to operate even if someone holds an Orb without using it.
Technically speaking, Orb is a modified ERC-721. Although Orb can be displayed on OpenSea, it cannot be listed for sale on NFT trading markets such as OpenSea, Sudoswap, or Blur. Orb can only be managed for ownership through auctions and the Harberger tax system.
In the protocol design of Orb Land, after the holder sets the Orb price, they need to deposit money to pay the tax rate for holding the Orb, and it can be bought at the set price by others at any time. Additionally, when the funds are exhausted, the holder will lose ownership of the Orb, and the Orb will enter the auction process.
Orb is always in an auction state.
Interestingly, Orb Land currently sets tax rates of 150% to 600%, instead of 3% or 5%, to encourage holders to ask questions, answer quickly, and facilitate quick turnover, thus increasing creator revenue:
Nic’s Orb: Priced at 6 ETH, with a Harberger tax rate of 150% per year and a cooldown period of 7 days.
Eric’s Orb: Priced at 4 ETH, with a Harberger tax rate of 600% per year and a cooldown period of 7 days.
Zaki’s Orb: Priced at 2 ETH, with a Harberger tax rate of 600% per year and a cooldown period of 14 days.
Tarun’s Orb: Priced at 2 ETH, with a Harberger tax rate of 150% per year and a cooldown period of 10 days. Additionally, all of Tarun Chitra’s answers are in a hidden state.
Through the Harberger tax system, creators can ensure continuous revenue, and if opened to external users for viewing, other users can also give tips to earn additional income.
Orb Land charges transaction fees during the process.
From the tax rates and prices of Orb Land, or the mechanism of using the Harberger tax system itself, it can be seen that the team’s target creators are relatively experienced professionals, differentiating themselves from competitors such as Mirror or Matter.
Orb Land introduces a new business model through the Harberger tax system, attempting to give creators more revenue and power, allowing valuable content and knowledge to be monetized quickly.
However, even with innovative business models, whether creators can monetize their knowledge still depends on the quality and accuracy of the knowledge. Therefore, content remains the most important product, and the special charging mechanism and blockchain that realize these functions are merely tools.
Therefore, the success of Orb Land depends primarily on finding valuable creators, which is why the team currently places great emphasis on creator selection.
Eric Wall
Harberger Tax
Orb Land
Content creation