Dan Romero on Farcaster

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https://warpcast.com/~/channel/fc-updates

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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

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FAQ What if I don’t want to subscribe? - You don’t have to. It’s too expensive - The subscription is opt-in. We’re also hoping to make it easy to gift others partial subscriptions. We also think rewards will be a way for people to earn a pro subscription. Why not launch with the additional features? - Our goal is get an initial version out and iterate.

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Why doesn’t Farcaster have ads? I believe this is actually the long-term revenue stream that every company needs. Farcaster could also partner with other companies to create a tool that integrates ads into miniapps, giving developers a small source of income. This could serve as part of the motivation for developers to build and grow in the long run.

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agrimony↑🎩 pfp

agrimony↑🎩

If 100% of proceeds go to casters then this isn't sustainable long term for merkle tho

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wetsocks pfp

gonna have to pay for API next

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J. Valeska 🦊🎩🫂

- We originally thought storage fees could be that, but we’ve realized that storage fees should be essentialy free to help growth.  what does happen with warplet swap fees? (Is it out of the protocol, like a warpcast only thing?) what does happen with storage units? (in general, and paid ones) how much additional features will be added in the future? Are you planning on removing any other permissionless feature in the feature to become it a pro only one? what does happen with API ? Will get pro features (images and casts) or limited? how do you think this could be affect future clients? will be forced to implement this pro privileges and restrict all other users?

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@ashwinikumar.eth

Do the pro subscribers still need to hold additional $25 in the wallet for the verification badge thing? I think back to back announcements might cause confusions like this. If we are paying $10 for monthly subscription + a $25 in the wallet then it becomes $35 a month, I know it's optional for the Pro subscription but can these two find a way to merge?

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chinmay.eth pfp

Worth experimenting but the revenue is not going to be substantial... for now. Why not just charge 20%-30% fees in airdrops, paid in USDC? Airdrop = marketing budget. It's the same as ad revenue.

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petar.xyz pfp

Is this Pro protocol subscription the same thing @v mentioned earlier as the option to pay to skip connecting socials and get verified?

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antimo pfp

Cast scheduling?

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overall I think this makes sense, my main question out of curiosity would be if there are other parts of the protocol you think are going to similarly need their own revenue streams in the future also if there were to be protocol-level enhancements for these users(eg. longer casts) would that be handled in a way where devs wouldn’t need some extra configuration to tell who has this pro plan or not?

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Trebor🎩🟡 pfp

Badge and longer casts is not enough.. you need to provide something more if you want users to spend 10$ per month

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will the pro badge give visibility boosts to posts? what about replies being higher in comments, as with twitter?

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Crypto247 pfp

Currently, each user pays an annual fee of $5 to use your product. With a total of 600,000 users, you're generating around $3 million in revenue each year. Your Pro protocol package is similar to VIP subscriptions on other platforms like YouTube or Twitter. I believe it would be more practical and appealing if you integrated advertising on Farcaster and shared a portion of that revenue with users.

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What percentage of users do you estimate will purchase this subscription?

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Yasvid.Base.eth🎩

A very bad decision. With this move, you will destroy Farcaster. Of course, Farcaster has not been for everyone for a long time. Limited prizes for a limited group. Now that you have paid for your subscription, you have disappointed us, Dan.

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Colin Charles pfp

Can you do this now, like today? Let’s go

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Igor Yuzovitskiy pfp

Igor Yuzovitskiy

what will be the implementation of the subscription, how will users pay monthly? And can this feature be made available to miniapps?

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Erik pfp

awesome, planning to sign up, a couple q 1. can we pay it with our fc wallet 2. will 2-4 images be deprioritized by the algo? this has been a big one for photographers one other for photographers/artists i know ppl would love is full vertical display of a photo, as in not cutting off the bottom - or at least letting us pick which part of the photo is seen on the feed and then when clicking in u see the full thing why to that last part? bc sometimes a subject is positioned at the bottom of the vertical photo (a person, a car, etc) and losing it on the feed view makes a big difference

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@jonathancolton

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