borodutch
@farcasteradmin.eth
$reply sitting at sub-$200k mcap validates our pivot from lunchbreak.com to other endeavours we made ~$150k in fees from lunchbreak within 2 month from launching iirc, but then it quickly died funny thing though: only $10 or so was made from messages, most volume came from people trading each other tokens we did 520eth in volume, which was the point we agreed on before where we would figure out if we needed to continue pudding or pivot we pivoted, because we foresaw that there isn't enough attention or pull to sustain a $100+ mcap token
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David Onchain‼️
@fomobaggins
MySpace came before Facebook, it has only been a few days still. I think there is demand in token gated access to conversation (see @friendtech.eth), it just needs to be done at the right time, the right way, with the right comms to the community.
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borodutch
@farcasteradmin.eth
another reason why we pivoted away from socialfi was that any socialfi product can only go as high as ft and ft is zero iirc ATM timing and market for social tokens is gone, there is no momentum right now and i don't foresee any momentum anytime soon
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David Onchain‼️
@fomobaggins
perhaps tokens yes - but do you think there’s a version of a socialfi that works long term without a token, or is it structurally flawed? Ft leaned too much into speculation, lacked sticky UX, didn’t protrude deeper user identity I consider farcaster socialfi adjacent, tbf. Curious if @dwr.eth views it as such
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borodutch
@farcasteradmin.eth
no crypto is about speculation and speculation only yes, including farcaster
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David Onchain‼️
@fomobaggins
Gambling with extra steps indeed. Speculation drives crypto, but maybe I’m naive for thinking it can power meaningful SocialFi if paired w emotional/social gravity. Speculation gets them in, belonging makes them stay. FT came close, but lacked staying power—no long-term identity, true status or belonging loop
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borodutch
@farcasteradmin.eth
you're naive all crypto use cases that won since 2011 were speculation in a new wrapper
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David Onchain‼️
@fomobaggins
Sure, every major breakout is fueled by the hope of financial upside before “uTiLiTy”. But spec isn’t inherently meaningful; it’s fuel, not structure. If we can’t integrate it into something people actually want to keep using when the candles die, what are we doing here? I guess just gambling 😂
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borodutch
@farcasteradmin.eth
it is both the fuel and the structure see how stock market operates it is the whole meaning
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