Farcaster

I keep seeing references to Farcaster as socialfi so sharing my clarification

I keep seeing references to Farcaster as socialfi so sharing my clarification

https://x.com/ljxie/status/1833617641187250328?s=46&t=QNlz9swNdb9dxGQvZZJaCw

Developer ecosystem @farcaster, co-founder @bountycaster. Previously: co-founder of Scalar Capital, product at Coinbase, co-producer @ethereumfilm

The determining factor for socialFI for me is that you can do transactions right in warpcast.

SocialFI seems to get a negative connotation right now due to friendtech and very speculative use cases but there‘s nothing inherently wrong with being a social fintech app - it doesn’t mean you need to be hyperspeculative, you can provide great social and financial value

I don't classify Warpcast as socialfi either. It's just a client that enables these applications built on top but its underlying function is not socialfi

I‘d give the same explanation but say warpcast (vs Farcaster) is a socialfi product. Social base with staying power with lots of financial experiments on top ✌🏽

now that friendtech is done, can we just go back to deso?

adding *de* to something without de in it generally makes it better (defi, deso, depin)

adding *fi* to something without fi in it generally makes it worse (socialfi)

Ppl in this thread misunderstanding that 
socialfi == ponzi on social 
=/= FC or wc

I would probably say though as a "social grid" protocol  socialfi is inherently native to its growth strategy and structure. At least from what I've seen project adjacent to the buildouts so far utilizing it as the underlying architecture.

Farcaster is not a socialfi, it is a decentralized communication platform

I think it is, regardless of whatever is built on or around it.

Yes. It is possible to have fun here on FC using WC or whatever client without s need to get involved in finance even a little

Good recap on the crypto misnomers.

I think it’s great to see people highlighting them, as we are in a new industry, with new language, a lot of tech slang and terminology doesn’t fit, or exactly tell the whole truth 100% of the time.

they are encountered more and more often. just keep sharing

The normies will see it as SocialFi regardless of the definition or how it’s described.

Cause what’s the easiest way to understand and app that has embedded financial tools.

Farcaster is a hub (parent)
And other things built on it are socialfi (child)

Jacek referenced a post on X today too where the person said farcaster is dead now and no one uses it cus degen dipped

And it makes me wonder if people actually read things up first before typing.

Jacek referenced a post on X today too where the person said farcaster is dead now and no one uses it cus degen dipped

And it makes me wonder if people actually read things up first before typing.
https://x.com/traguyeth/status/1833619221630145017?s=46&t=dc2fISU3aiergAyvGT3_zg

Had to put them in the right state of mind, bold move. They need to get the right idea about it and make it stick.

I’m still a bit new to web3 and stuff but doesn’t that mean that as a permissionless social protocol, anyone can basically build a socialfi on it?