Thesis:
Ads on Farcaster and TBA are underserved and solely 3rd party facilitated.
Problem:
While traditional ads can be obnoxious and intrusive, they do serve the purpose of discoverability. On Farcaster, projects like @qrcoindotfun and @inflynce have taken the purpose a step further by monetarily rewarding the attention that comes with discoverability.
However, this attention currently necessitates either an extra step (opening a MiniApp) or is diluted and obfuscated (spread across multiple accounts). One thing web2 got right was standardizing ad placements and seamlessly integrating them into the UX experience (obv not all ads). Farcaster/TBA needs the same, while retaining the rewards for the scarce resource that is attention.
Solution:
@floar.eth and I built @0xmegaphone, the sufficiently decentralized attention machine.
Megaphone operates on a daily onchain auction, where the winner earns the right to cast from the Megaphone account 5 times a day. All engagements on the casts earn $MEGA.
We aim to seamlessly integrate ads into the feed, while also consolidating attention to a single, recognizable account.
As people engage with the casts to be rewarded, the casts are naturally boosted in the algo, gathering further attention. And more attention drives higher auction prices, funding $MEGA buybacks that further reward users.
Conclusion:
@0xmegaphone launches 10/28. It aims to solve the current UX problems surrounding ads on Farcaster/TBA by embedding them directly in feed from a recognizable and reputable account. Interactions on casts are rewarded, and auction revenue is used to buyback $MEGA for further rewards. 1 reply
3 recasts
7 reactions
1 reply
0 recast
1 reaction
1 reply
0 recast
1 reaction