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** Come For The Wallet, Stay For The Social Network ** (my /firstdraft )
Listening to @dwr on /gmfarcaster felt like a brief Master Class on Farcaster and was a refreshing example of why I'm here.
There were many takeaways, but the over-arching one for me was understanding a recent shift in emphasis on the FC Wallet and how that fits into the big picture of FC growth. Up front, note that Dan made clear this isn't a shift away from the social network--which is here and continuing to be built.
This month is 5 years since Dan & Varun started working on Farcaster. Dan noted that the one challenge they've always faced is finding a way to sustainably & repeatably grow the social network. They can do it when the team puts in effort--Rewards, Video emphasis, onboard journalists, etc. But they haven't found something that works on its own.
Enter the FC Wallet. Recently, people have been commenting that it's the best wallet out there. The recent additions to trending, news, trade ideas has created a tool that isn't out there in the crypto world. People are opening the app to use the wallet features.
Dan says the team is leaning into this with a lot more features and improvements coming. There are 100K funded wallets on FC, and there is a possible opening here to see that as a driving force for onboarding crypto native people.
I appreciated how @nounishprof talked about onboarding her students to FC this semester for the first time ever because of how easy it was with FC & FC Wallet.
It looks like this will be the season of 'come for the wallet, stay for the social network.' -- Dan's phrase, not mine. I'm happy to lean into that, even though it's maybe not the main feature that's appealing to me. I don't trade a lot and don't need as much news as some. But part of (all of us) building Farcaster is supporting the meta that supports Farcaster.
Here is the episode, which I would highly encourage listening to--Dan is about a half hour in and lasts about a half hour: https://farcaster.xyz/nounishprof/0xe34a6d15
You'll learn a lot more than this little summary...For me, I'm going to be paying more attention to the FC Wallet and hope the focus helps Farcaster grow.
If you made it this far, how much do you use the FC Wallet and what do you think of the new features we are seeing? Any thoughts on the new season of 'come for the wallet, stay for the social network?' 1 reply
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