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https://warpcast.com/~/channel/consumercrypto
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yuga.eth
@yuga
A consumer crypto app is one which requires no prior knowledge of crypto to use immediately. Good examples of consumer crypto apps are Coinbase and Farcaster. Also, by this definition, most self-custodial wallet apps are not consumer crypto apps, because they require prior crypto knowledge to use immediately.
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six
@six
Why is that the definition?
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yuga.eth
@yuga
Because "consumer" means "for personal, consumptive use" - i.e., not compelled by their job or other obligation; voluntary. If an app requires prior crypto knowledge to immediately use, the number of consumers who onboard will be an order of magnitude smaller due to the experienced friction and the lack of obligation.
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yuga.eth
@yuga
Put another way, if your app requires prior crypto knowledge to immediately use, the vast majority of people who use it will be prior crypto users. This is such a small proportion of the "consumer" segment as to be meaningless.
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six
@six
I agree that requiring prior crypto knowledge limits a consumer app's ability to achieve *scale*, and if that's the goal, is strategically bad. I don't think it prevents it from being a consumer app in the first place though; for example, I feel comfortable calling pre-Privy OpenSea "consumer crypto"
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six
@six
There are tons of consumer apps that are not and don't intend to be at-scale (both inside and outside of crypto), but that doesn't preclude them from being consumer apps
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