no-badge-fam

farcasterunion

Fascinating analysis on the first 10,000 pro subscribers. We knew the NFT was going to drive subscriptions, but this is some of the first analysis of how intense the farming was. 

24% of the people who minted had less than 10 followers.

Almost 12% had 0 followers. 

Speculation on the future value of the NFT is right here in black and white. 

There is no way someone with 0 followers paid to “support” the protocol or get the future benefits of longer casts and more photos.

Farcaster is a great service.

There was no preferential treatment to give NFTs to the many users who have supported and energized Farcaster over a long period of time. Instead, it attracted a flood of hyena-like people—those who have barely ever cast and are only interested in making money.

In reality, the people who came chasing money have now secured a long-term opportunity to profit through these NFTs.

Farcaster is a great service.
After all, it clearly prefers people who pay up quickly over those who actually contribute to the platform.