The two things with product-market fit in crypto: speculation and stablecoins

We're working to change that!

Two use cases in crypto with product-market fit: speculation and stablecoins.

Today, if you don't play in the speculation stack, you miss out of the $$$ spent by the relatively small population of hardcore crypto users (and occasionally a sudden surge of retail interest when there's a big meme event). This space is attractive for startups since a relatively small number of users by consumer standards can generate a lot of revenue.

Stablecoins grew out of the speculation stack over the last decade, but now with the GENIUS Act, you're going to see a flood of non-crypto companies with existing distribution start to play around with crypto. This space is much harder for startups since stablecoins require massive scale to be a good business (and will become worse if interest rates fall).

The challenge today is that if you're somewhere in-between speculation and stablecoins, the thing you need to make your business successful is users who spend some amount of crypto. And that market is not that big yet.

So the imperative is to grow size of the market. The best way to do that is build fun and entertaining apps and experiences.

This is what we're focused on with the Farcaster app and why I'm constantly telling people other stuff isn't a priority relative to user growth.

More thoughts here:

https://farcaster.xyz/dwr.eth/0x60483163

Poet. Artist. Soul. Authentic Connections First. Poetry to AI art. Writer. Marketer for a decade. /empathy 🤍

So you are saying USDC is definitely not boring when you have enough users to use your app and have fun, right?

the reason I decided to pause the development of mini apps was the realization that if you want to make money you need to embrace speculation

happy to hear that the end game for farcaster isn't that!

make money speculating, convert to USDC to realize the profits.

@arrotu and I were just talking about building unique experiences on Farcaster

# of users x improved discoverability creates a market for fun and unique experiences on Farcaster

keep cooking

Thanks for the support, truly amazing to be building here

Saw that and that’s why I decided to build a here as well, ended up being a great catalyst. Excited to see more users come !

Saw that and that’s why I decided to build a here as well, ended up being a great catalyst. Excited to see more users come ! 

https://farcaster.xyz/tipdotmd/0x2528c737

@dwr.eth Love seeing the push for video and recent experimentation around it on fc. Should help more content types find their niche/medium here. 

Off topic for this thread, but a feature that would make me watch more video is the press and hold for 2x speed on the edge of the screen while watching in full screen.

fun and entertaining experiences that enable real-time monetization. users need a way to earn from these experiences, otherwise what's the point. there is plenty of other 'fun' shit to do online.

Love the info here. Would read the details later... I'm hooked, so I bookmarked for later.

woah you caught me with the sky to face move