MJC
@mjc716
🔔 🔔 this is how I'm thinking about farcaster + base competitive positioning right now 🔔 🔔 tba just introduced a "buyable by default" feature and farcaster is about to release one tomorrow. what does this tell us about the state of things? on one hand, not that much. the idea around tokenizing posts has been circulating in the space for a long time. we laughed at lens when they tried it, but it's pretty cool now that we're doing it 😈 i'm not currently an enjoyoor of any contentcoin platforms, but they do theoretically create information markets with some legibility, which could be a valuable feature for a social app on the other hand, buyable by default means that the financial component is no longer secondary. we're at a point where it's clear that farcaster can't compete head-on against other social networks for "interesting content". things may change here but as @nonlinear.eth casted earlier, hope isn't a strategy the best alternative strategy available on the board is to lean into tokenization and information markets. it's the only edge farcaster clearly holds over other networks. it's the backdoor bet that farcaster, base and zora are all making and i suspect it's no coincidence that farcaster is releasing their own tokenization model right as base is. this is the main monetization axis they expect to compete on as clients the tricky part is that these systems only work as information markets once you reach a certain scale -- a scale that neither of farcaster and zora are approaching the optimistic path is that these information markets unlock enough value to create enough distribution to generate enough trading revenue to attract a scaled quantity of interesting content to kickstart the flywheel but we've seen what happens when you lead too heavily with financialized social primitives. there is very little good content and a lot of bad content on zora and lens. sorry. not to mention a graveyard of forgotten social projects that have led with tokens we have real and good content here, though not as much as we'd like. the ultimate question is whether there is enough good content and strong culture to turn the corner and make the jump from a social network to an information market
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maurelian
@maurelian.eth
Man, when engagement is tied super closely to financial gain, any change to the algo is fucking with peoples wallets. Going to be hard not to make people angry.
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Jacek.degen.eth 🎩
@jacek
Interesting read. 👍
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st3ve.eth
@st3ve
facts
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J Finn 🎩
@jdotfinn
so in $PRO context the curators are monetized by the traders? or by views? basically, with content coins some random post like ‘Base Shake’ will generate $X in fees (assume huge) and a few early traders make bank, majority lose; the only asymmetric advantage is being there when the post is made really. in curator coins, not necessarily. is the upside in the market getting behind a curated feed before it becomes popular. not necessarily instantaneous tho as the curated feed takes time to build?
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Dylan
@epicdylan
Agreed on all points, thanks for the info about the meta here. 42 $tipn
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jgc
@jgcfyi
Im pretty new here but cant they just take a cut of mini app revenue and go hard on that? I refuse to believe there’s a world where Jesse is right
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Jabo5779
@jabo5779
Or... We are all about to find out Just how fed up the world is With the current social systems And we are about to witness The buying of 'bad' content On an Epic scale That forces the hand of Not 'bad' content creators To jump ship and run towards Free and open monetization The makers of these apps... Are buying all the content - good, bad, horrible - doesn't matter. I see what's happening here It can't be unseen They will eventually have creators from all platforms hook, line, and sinker, full bore making content on any platform that allows them these monitization models... Because they are throwing money at the ones here now for anything I think they will succeed Because they timed it right People are done With the current model The great content You seek Is coming At the peril of all the 'Bad' content creators You speak of They are going To pay for it to come And it will come
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