wallets need a way to differentiate, drive up transacting users, and increase retention. social features are a good way to do that. If a normie asks me how to get involved with crypto, I'd recommend the wallet with social features over the vanilla one.
they're doing it in a way that doesn't require them to bootstrap their own content bc of fc.
there are very few ways to get users to open a wallet daily and social is a good one
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I think can be good for miniapps, easy to have new users trying them if the wallet is a client itself
miniapps and farcaster experiences are the trojan horse inside the cbw
I see it this way
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I am coming from the pov of, wallets have a job to do - buy/trade/send/portfolio etc.
is cbw doing a good job there? no.
users won’t come to cbw for social. they come for the wallet. that experience has to be world class first.
we can make the best wallet and make it the best social experience - at least to me, at this stage - is focusing on too many things. which is essentially not focusing on anything.
if users are coming for social they may as well just go to farcaster.
if users are coming for wallet there are so many options out there which provide a far better experience already and are constantly improving.
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got the point and makes sense to focus on offer a world class wallet first, then add features but the thing that I love the most about cbw is the recommendation of crypto products, I have spent more time exploring them than trading in cb ( I use other wallet for that, what may prove your point and mine at same time 😅)
Every wallet is integrating more social features (phantom, metamask, etc)
I think the social wallet vision is one that could easily evolve into an everything app but I agree that the core wallet experience in Coinbase Wallet needs to improve and they’re actively pushing on this front too, not just social
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Social in wallet will be a thing. But I suspect won’t be a major thing.
More than anything I bemoan the lack of focus. I want coinbase to be the absolute best onboarding experience for normies. Social can come much much later.
I won’t be convinced that they can do that working on everything.
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Coinbase wallet would make onboarding normies easier that’s the catch, a wallet with a social graph/feed that provides retention.
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wallets as they were sucked for 99% of users
Definitely a market for just being the best wallet but it's market is 1% of users
I like tims take
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