Dan Romero on Farcaster

Dan Romero pfp

> Every other social media platform has thrived with no user incentive to post besides an audience. How many new at-scale social media platforms in the US in the last 10 years? Only 1. TikTok. And they spent $1B+ for multiple years on Facebook ads to acquire users. So instead of transferring that value to Meta, why not try to transfer it directly to the users building the network?

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greg pfp

This wasn’t targeted at Farcaster and I do think the rewards system is a clever way to drive dopamine hits. As you’ve said yourself though it’s not sustainable and a world where we all make significant sums of money by posting will never happen

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Trish🫧 pfp

Just a side thought, I keep seeing ads for Meta on TikTok. A side note to that is their comments are turned off 😂

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𝑶𝒕𝒕𝒊🗿✨ pfp

𝑶𝒕𝒕𝒊🗿✨

Exactly https://farcaster.xyz/toyboy.eth/0x06fc2332

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zexrtw | Not A Bot pfp

zexrtw | Not A Bot

just for your information, they do that. if you know tiktok create some event like reffer and earn with prize is $100 to $200 per 10 people that user's invite.

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Geo Ppls pfp

The thing is that most users on social media platforms post to post and get her but they’re not serious about building an audience or a portfolio. But they are definitely is demand. Just look at Peiter levels and the like. Is 20% of the people providing the value. Saying “nobody” interested is an exaggeration.

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Nate “Igor” Smith 🎩 pfp

Nate “Igor” Smith 🎩

@drivenbyboredom

Couldn’t agree more. Instagram has made their product worse for everyone because it’s better for their shareholders and no one else.

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Apurv pfp

problem comes from the kind of behaviour these incentives promote - it it could be done retrospectively nothing like this. but if there's an expectation & people can do moon math, it becomes a game losing authenticity..

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nerd pfp

This is exactly what web3 is all about. Users come first, they get rewarded for being active, they own their accounts and content (at least ideally). IMO web3 model is way more interesting and fair for the user

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Rick pfp

I agree with both, I think token ads works, but not in the current model. I wish I ran web2 style ads (via web3 ad networks) earlier, I know it really doesn't scale, but it taught me way more about the user then token drops ever did. We spent so much time on wallet data, when ads came and who converted was a completely different user then "positive wallets" vs what users converted to 3pt sales. Wallet clusters, N-distance from farmers, wallets with app usage, wallet with known user interactions, how long they held, if they bought more, if they didn't receive and bought... all unrelated in the end to who converted to sales based on how we created insights. When those who were seeking token drops by creating content left, 0 impact to ad revenue, even at a Nx decrease. Even Larimer punted Post2Earn after trying twice SteemIt and Voice.

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gFam.live (UrbanGladiator) pfp

gFam.live (UrbanGladiator)

Also Threads... and they had a creator bonus program to bring creators over.

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KMac pfp

What would a token do? In this scenario it could transfer value and share revenue. Future network growth going to those how support the network the most.

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Shaya pfp

this is the way. people want to be heard, and paid.

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Mikado pfp

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Eternal pfp

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loveabit pfp

Applications like Phaver and Debox have no sustainable development because they do not capture continuous value.

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Forgotten One 🦄 pfp

Forgotten One 🦄

We like this model🙌🤠

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Uncle HODL pfp

Had this same vibe with @wav3s while I was still only on Lens. Both as person paying for advert and as user receiving payment... just seems like the better option vs paying platform excessively

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Elon Musk pfp

me too hope that farcaster will be like tiktok, have a lot to deal with and can monetize from the platform, not directly!

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0xOmen pfp

Didn't Twitter pay a bunch of celebs to post initially? Otherwise, most social apps I used targeted 20-somethings trying to be seen by their peers but not their parents. I abandoned a few social media sites back in the day when my parents friended me

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