Farcaster

Farcaster is rolling out a new feature,now you’ll be able to buy and mint someone’s cast as an NFT through an auction.

Sure, the idea isn’t groundbreaking, we’ve seen stuff like this before. But I’ve gotta say, the execution looks like it’ll be one of the best I’ve seen.

I’m guessing some people will want to flex and win the auction, especially since there’s only one edition.

Honestly, I thought they’d just reuse the same Zora-style feature from Base App, but looks like Farcaster came up with something of their own. Gotta say, I’m impressed.

DeBank: nerd | Lens: nerrd | X: realnerrd

IMO coining is just easier. Instant, no mess about an auction. You like something you show support

By friend tech model I mean tokenizing the creator or their post and then trading it p2p. Base App definitely has nothing to do with friend tech, though one of its features has some similarities, let’s say that

The @baseapp is nothing like the friend tech model. You can see the post without paying for it. If you like it you buy it

The friend tech model has ponzinomics built in, people lose money and lose interest just as fast. It’s happened over and over, always ends in failure

What Farcaster’s offering is fair, almost no ponzinomics. Everyone understands it’s about tipping the creator and flexing a little, not a way to make money