Mason Nystrom
@masonnystrom
Investing at @variant
Previously: Messari, ConsenSys
Subscribe: www.masonnystrom.com
New post:
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The Friday bop everyone's been waiting for finally dropped:
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Amazing energy at FarHack
DCs open if you’re hacking and want to jam on what you’re building.
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There's so much open design space for trading interfaces leveraging frames and actions.
What are the other top ways to transact within Farcaster?
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While this post is outdated, I think the value accrual for social tokens is correct.
The modern version:
Socialfi platform: Social platforms/exchanges
Community tokens: Memes, Platform channels, TG bots
Personal tokens: access keys, influencer tokens, etc.
@masonnystrom
The thesis for value accrual in the social token ecosystem is straightforward. Social token platforms with strong token economic models – that directly capture value from social tokens – will have the greatest opportunity to accrue revenue and value from social tokens. 1/ pic.twitter.com/jgPvx1EvMq
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SocialFi apps often take one of two approaches:
1) Exchange-first approach: Built an exchange (e.g. Robinhood for memes) and back into becoming a social/discovery platform
2) Social/Discovery-first approach: Build a social platform to own discovery and then layer in financial elements
Both can be effective.
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Frame hacking > growth hacking
Created our first frame and doing a gtm in /gtm-caster today @masonnystrom @binji
The frame lets you
- Pull the addresses of every person in a given channel
- Upload those to a Hedgey token claim generator
- Create and publish a token claim page as a frame
- Creating our first test for this channel on Base
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Great thread with tips on how to leverage Farcaster as part of a crypto native GTM strategy.
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Good suggestions so far, please keep them coming
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Great framework for thinking about the value flow from new assets.
ERC20s
Issuance - Ethereum
New venue for exchange - DEX
Ownership utility - governance, etc
NFTs
Issuance - minting platforms like @zora / @manifoldxyz
New venue for exchange - @opensea1
Ownership utility - art, Games, access (e.g. @fabric)
There are 3 primary points of value whenever we see the emergence of new assets
1. Issuance
2. Venue for exchange
3. Providing utility from ownership
I’ve found this framing helpful for thinking abt new startup opportunities. And the good news is we’re seeing a lot of new, interesting assets in the FC ecosystem!
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