Introduction
Crowdsource credibility for information the media won't tell you

If Bitcoin is money without banks, Ideamarket is credibility without media corporations.

Media corporations are like central banks of narrative.
In the same way that fiat currencies are valuable only because governments say they are, fiat narratives are true only because media corporations say they are.
Ideamarket crowdsources credibility for information the media won't tell you — think of it like delegated proof of stake for public narratives.

How to crowdsource credibility

  • If something important is being overlooked by the media, Post it and encourage influential people to express their agreement on a scale of 1-100. Every post you create is an NFT that you own, and every influential person who rates a post lends their credibility to it. An influential post may become a cultural artifact — like a baseball signed by many MLB players, or a bill passed by the Senate. (see How to make a good post)
  • Stake IMO on users to increase their clout. The more IMO is staked on a user, the more their rating influence a post's Confidence Rating — the big colorful % number on the homepage. Staking is like voting, and involves no risk of loss. To stake, just click the "Stake" button and spend AETH, and we'll convert it to IMO for you in our smart contracts.

Building a global "Second Brain"

Citations

Whenever you rate a post, you can cite up to 10 other posts to justify your rating.

Post Page

For any post, you can view Citations (the most common arguments for and against the post) and Ratings given by all users.
Citations
Ratings

User Profile

The user profile is your "portfolio of opinions." Share all your opinions by sharing the link to your profile. Link your profile to Twitter so people can find you.

Bounties (coming soon)

Bounties allow you to crowdsource prizes for a celebrity to rate a post of your choice. Bounties will be paid in $IMO, so the people whose opinions you value most will have a stake in the Ideamarket ecosystem.

Applications

Prediction markets for public opinion

Ideamarket could make prediction markets exponentially more useful by enabling them to address subjective, un-resolvable, human questions
  • Taxation is theft.”
  • “God exists.”
  • “Epstein didn’t kill himself.”
Using Ideamarket, you could create a prediction market that settles based on a post's IMO Rating at some future time.
Both sides will be incentivized to 1) produce the best possible evidence for their case, 2) to understand the arguments on both sides, and 3) to judge honestly.

The credibility layer of the internet

Data from Ideamarket allows social networks and browser extensions to curate the internet without trusted third parties. Partners in 2022 will include Minds.com (the open-source Twitter alternative with 5 million users) an Mask.io (the browser extension for web3 social media).

What success looks like

The goal is not to explicitly prevent lying and falsehoods — this is impossible.
Instead, our goal is to make integrity and honesty the only financially feasible path for influencers of public opinion.

Our story

I’m Mike Elias — a musician and psychology writer, and Ideamarket’s founder.
Alexander Schlindwein built the initial smart contracts, and did a spectacular job — they passed Quantstamp audits extremely smoothly. (Alex would go on to win 3 of the largest bug bounties in the history of Ethereum.)
Kelton Madden took over as Lead Smart Contract Developer in 2021. Kelton wrote the contracts for Milady Maker NFTs, and holds a Master's Degree in Quantum Computing from UPenn.
We launched V1 in February 2021, attracting over $1 million in deposits and earning coverage in NASDAQ and Vice, among others. But high gas fees stunted growth, so we migrated to Arbitrum and became one of its first live dapps.
Our community has grown to include thousands of Propheteers across Twitter and Discord. We're constantly launching primitives and experiments anyone can use to change the way the world creates shared truths.

Philosophy

"Facts” always require trust in a third party.
The word fact is shorthand for certain enough to believe without question. But judging such certainty is a matter of opinion! Establishing “facts” always requires deciding whose opinions to trust — or trusting a third party to make those decisions on your behalf.
Read our founder's essay on the illusion of facts:
Wittgenstein’s Revenge
ribbonfarm

Trusted opinions about us

Common objections

"Doesn't this mean only rich people can influence public opinion?”

That question already describes today's situation. But today, the connection between money and public influence is hidden, and available exclusively to those with access. Ideamarket makes the connection between money and public influence explicit, and gives the public the same tools for “financial speech” as the elites. At the very least, this is a significant net gain over the current system.

"Isn't this just a popularity contest?"

Ideamarket is only a popularity contest to the extent that there aren't terrible consequences for being mistaken. Given there often are terrible consequences for being mistaken, people are often forced to distinguish between popularity and credibility.

Full Docs

To see the FAQs, smart contract audit reports, philosophy details and more, open the table of contents in the left panel.
The Docs table of contents looks like this on mobile:
Last modified 6d ago