fc-updates

We’re planning to launch a new, optional “Pro” protocol subscription

1. At launch, subscribers will have a Pro badge on their profile

2. Subscription will be onchain and part of the protocol. 100% of the proceeds go to casters / developers in weekly rewards. This in addition to the existing $25K+ a week in rewards. 

3. Planning to add longer casts (10K characters) and up to 4 images per cast for pro subscribers (needs a protocol change). Additional features over time.

4. $120 a year / $10 a month 
Why are we doing this?

- The protocol needs to find long-term revenue source that can continue fund caster and developer rewards beyond any one company.  
- We originally thought storage fees could be that, but we’ve realized that storage fees should be essentialy free to help growth. 
- So we’re trying an opt-in pro subscription as another model

Why now?

- Figuring out a long-term revenue model that works will allow us to double down on investing in growth

Waiting for @ramsey’s take on this one 👀 https://warpcast.com/dwr.eth/0x172f5081 https://media.tenor.com/-Z6B7mI26rkAAAAC/sus-suspiscious

Crypto enthusiast, ethics, movies and photography.

Founder of /gentlemanswagers

Putting me on the spot, ay Jelly? 

So, first things first, it's always "a lot" when you have to pay for sth that was previously free. It's a wall that a lot of people will not be able to get over. 

That said, I'm probably taking this one. I usually get at $3-10 in weekly rewards from this place. So this makes sense (to me). Especially bcs of 10k characters and 4 images per cast. Also, they're a business, and I want them to have a sustainable business model. If this helps that, without too much financial burden for me, I'm OK with it. The moment it does not "pay off" for me to pay the sub, I'll simply cancel it. I don't want to grind on farcaster. That's not why I'm here. 

Also, I vividly remember initially checking warpcast out back in the day and backing out bcs of $5. I joined 2 months later. That 2 months costed me tens of thousands of dollars in airdrops alone. So... yeah...

I knew you’d have interesting insight. 

I did exactly the same before paying $5 to join. Hadn’t thought of that till you highlighted your own experience. 🤝

thank you. 

Yeah, it's basically up to everyone to see if it "works" for them or no. If someone averages 2 likes per cast, they probably don't "earn" enough in weekly rewards to justify it. giving it a try for a month is (for most people) not that big of a deal, and then they can see if they want to continue or not...

But if it has an impact on the algo (e.g. being seen by people that don't follow you or the channel where you casted), then this is probably a smart move (for weekly rewards alone). 

Not even gonna go into farcasters that have a financial incentive to get it (marketing, building audience, etc). They just have to get it