Farcaster

community strategy at @offchainlabs,  contributing to /arbitrum

ironic how this is the one post that would prob have done well

* I would’ve coined this but TBA doesn’t allow for videos > 100MB to be uploaded yet

I’ve changed my mind on “coining” (pt. 2)

posted a pt. 2 here

https://farcaster.xyz/bfresh/0x2f181f33

chief philosophy officer. creating and defining the names that frame the game

i don’t know if I agree with these takes 

can you coin pill me?

https://farcaster.xyz/czar/0xa68a0a85

agree

and 1000000% to that last point esp irt to how @noiceapp does it

people only care to actually tip other people when they they're live (get a reaction/see their fav content creator engage with them bc of it), but not most people will not tip for the hell of it lol

excited to see how cointent evolves

I was also bearish at first but a conversation with @marmo.eth (who has been coining a lot) made me realize that I was too focused on edge cases to see why it’s interesting.

A key realization for me was that most coins won’t be valuable - but that’s not the point

The point is that when something eventually goes viral there is a **monetizable** source of truth

Right now it’s only traders valuing content coins but when the actual act of trading moves to the background and becomes automated through something like @noiceapp content will start to be valued more fairly, which has some nice downstream effects like incentives for curation

I’ll try to keep the length lower so I can coin them next time haha

Sorry you couldn’t coin this because the market cap on this would be fun to watch.

🔔 🔔 
this is how I'm thinking about farcaster + base competitive positioning right now 
🔔 🔔 

tba just introduced a "buyable by default" feature and farcaster is about to release one tomorrow. 

what does this tell us about the state of things?

on one hand, not that much. the idea around tokenizing posts has been circulating in the space for a long time. we laughed at lens when they tried it, but it's pretty cool now that we're doing it 😈  

i'm not currently an enjoyoor of any contentcoin platforms, but they do theoretically create information markets with some legibility, which could be a valuable feature for a social app

on the other hand, buyable by default means that the financial component is no longer secondary. we're at a point where it's clear that farcaster can't compete head-on against other social networks for "interesting content". things may change here but as @nonlinear.eth casted earlier, hope isn't a strategy

the best alternative strategy available on the board is to lean into tokenization and information markets. it's the only edge farcaster clearly holds over other networks.

it's the backdoor bet that farcaster, base and zora are all making and i suspect it's no coincidence that farcaster is releasing their own tokenization model right as base is. this is the main monetization axis they expect to compete on as clients

the tricky part is that these systems only work as information markets once you reach a certain scale -- a scale that neither of farcaster and zora are approaching

the optimistic path is that these information markets unlock enough value to create enough distribution to generate enough trading revenue to attract a scaled quantity of interesting content to kickstart the flywheel

but we've seen what happens when you lead too heavily with financialized social primitives. there is very little good content and a lot of bad content on zora and lens. sorry. not to mention a graveyard of forgotten social projects that have led with tokens

we have real and good content here, though not as much as we'd like. the ultimate question is whether there is enough good content and strong culture to turn the corner and make the jump from a social network to an information market

wrote a thread on this

you can make a logical case for it but it’s not without risks

app developer /spotlight | MediaFi & Attention Markets

maybe to start but I fear these things only go in one direction

this is why I think the base app has probably the best approach to it so far

It feels the least financialized thus far of all the options and imo should trend that way

wrote a thread on this

you can make a logical case for it but it’s not without risks 

https://farcaster.xyz/mjc716/0xe666c398

Full stack meme engineer @superpositionso

i used to make tons of youtube videos

https://www.youtube.com/@blazeaster/videos

you're actually right. as someone who managed to go viral numerous times i think that the barrier you mentioned could be demotivating when you earn 0 dollars on a multi million view vid

doing the right thing.
working hard.
being optimistic.
putting the team over the individual.
pushing boundaries with creativity.

eng @ base

building @dau and @boostxyz to help app devs grow onchain with token incentives

we don't want you to coin there's too many now

yes, exactly!

anyone can earn. even if it's very small amounts to start. it's magic.

Agree in principle. Should be noted that this has lowered the barrier for select countries only, much of the world is restricted from earning on any of the mentioned apps and so the barrier for them is still just as high. 100 $tipn

Your video is outstanding! “We coin!”· yabba dabba blue! · 👓 🔵

P.S. That last phrase should generate The Super Tip, previously set up on @noiceapp and reserved for these occasions.