fc-updates

We’re planning to launch a new, optional “Pro” protocol subscription

1. At launch, subscribers will have a Pro badge on their profile

2. Subscription will be onchain and part of the protocol. 100% of the proceeds go to casters / developers in weekly rewards. This in addition to the existing $25K+ a week in rewards. 

3. Planning to add longer casts (10K characters) and up to 4 images per cast for pro subscribers (needs a protocol change). Additional features over time.

4. $120 a year / $10 a month 
Why are we doing this?

- The protocol needs to find long-term revenue source that can continue fund caster and developer rewards beyond any one company.  
- We originally thought storage fees could be that, but we’ve realized that storage fees should be essentialy free to help growth. 
- So we’re trying an opt-in pro subscription as another model

Why now?

- Figuring out a long-term revenue model that works will allow us to double down on investing in growth

Interesting details between the lines:
No one can participate in FC outside the protocol, but the FC app is optional. Part of the turnover must therefore be linked to the protocol.

And more importantly, they seem to be falling for the usual revenue models as we see at X:
- Subscriptions: subscriptions with benefits (e.g. longer casts)
- Advertisements: Some people can pay to boost their cast (might be linked to the app)
- Monetizing data: data is used for the airdrops, not sure if there is non-public data involved. (seems to be linked to protocol and the app)
- Badgification: pro badge coming soon, early Warplet adaptor, the sunsetted powerbadge (but still on the protocol)

Still missing: a badge for verified users (aka you did KYC on them). Could be a pay one a year badge, and could be linked to the protocol.

Interests: crypto, economics, TA & blockchain related innovations | 🔗 https://linktr.ee/cryptonjal 🔗 https://dune.com/nhejyht