Founders

Crypto is a backend technology.

Robinhood launching its own chain—where they control token emission, redemption, UI, and distribution—says everything: no one cares about visible crypto apps.

In fact, most people despise crypto apps. At best, they tolerate them when they’re invisible.

Even if you’re a top-tier founder with $50M–$200M in funding, your flashy crypto consumer app won’t break 100K DAU, no matter what:
- Without speculation, no one shows up. Worse: your users will try to speculate if you don't do it yourself to find a reason to stay on your app, with tokens like DEGEN ironically capturing more value than purple app it emerged from.
- With speculation, founders are basically desperately trying to poach users from TikTok or X with free money. If that's your hook it just proves how little people care about your app and the spikes inevitably ends.

It took me years to internalize this: web2 social media is already good enough for most. Crypto can't 10x it in a separate app. At least not as a GTM strategy.

In 2020, ALEX coin was my breakout story. I raised $20K to escape socialist Paris and move to Silicon Valley to achieve my dreams of building a consumer app.

But even ALEX was just the backend. That whole story played out through Twitter, Medium and news pieces about my journey; not one crypto app was popularized in this process.

Later I raised $8M, and like @nikitabier said, I landed in a "golden jail", chasing PMF at any cost for an ambitious crypto app instead of seeing the obvious play.

Now I do. My new thesis is crypto as backend rails embedded in existing web2 platforms.

Excited to share my first product soon with this new thesis.

I'm still revising this thesis.

I'll cast a new revised version this weekend.

Either way, a new product pivot is coming from this thesis.

If you're a large Farcaster account and want to learn more DM me.

Founder @10kdotworld.eth, launched $ALEX (first creator coin).

Appreciate your candor.
I’m glad you’re not wasting your time on something you don’t think will work.