teddit

if you spend any amount of time playing around with consumer apps, you will recognize there are endless pseudocurrencies used to drive engagement and retention:

coins in Duolingo, Reddit karma, TikTok gifts, robux in Roblox, gold bars in Candy Crush, bits in Twitch, stars on IG, etc.

almost all of these can be bought with fiat.

a few of these let you cash out as a user (e.g. creators can redeem tiktok gifts for  or cash out robux via devex).

and none of them natively allow peer-to-peer trading of their pseudocurrencies.

and people love them and buy and spend them daily.

🤔

helping build farcaster | surfing @ venice, ca | eating @ gjusta / gjelina | “lucky me, lucky mud” 🤠

Those coins have intrinsic functionality within their apps. Their economies depend on the product itself being fun, not on speculation and / or manipulation.

Their detachment from real-world economics is a feature, not a bug