splits

Why are project coins so interesting?

They're kind of like seed funding. And kind of like crowdfunding.

But also kind of like bootstrapping. But *also* kind of like public stocks... without being equity.

Token holders "are the financial equivalent of social media followers."

Because it's crypto, investing is open to anyone with an internet connection. Anywhere in the world. At any time from launch onward. Instant liquidity for all.

Following up on our investigations of @betrmint and @tipn, the latest @splits report from @w @abram @matthew and myself is a deep dive into project coins — how they work, and what it means for the startups of the future.

product at @splits | building hq trivia for poker

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Tipn

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BETRMINT

Why are project coins so interesting?

They're kind of like seed funding. And kind of like crowdfunding.

But also kind of like bootstrapping. But *also* kind of like public stocks... without being equity.

Token holders "are the financial equivalent of social media followers."

Because it's crypto, investing is open to anyone with an internet connection. Anywhere in the world. At any time from launch onward. Instant liquidity for all.

Following up on our investigations of @betrmint and @tipn, the latest @splits report from @w @abram @matthew and myself is a deep dive into project coins — how they work, and what it means for the startups of the future.

https://splits.org/blog/project-coins/

crypto is like a printing press for markets

In addition to the many project coin founders on Farcaster, my thanks goes to @jake / @qrcoindotfun, @jacob, and @yonfrula for working in public on their various coin ventures.

$QR, Zora's coin-everything arc, and both $gdupi and $yonfrula are instructive examples of project coin dynamics. (Creator coins feel like a distinct category, but there is a lot of overlap!)

This @jacob banger continues to elucidate every time I think about it: https://farcaster.xyz/~/conversations/0x546291ef0a9feccf287604ede5e56649ee59e515

Shoutout to @flynn.eth for this cogent post, which we quoted: https://x.com/Flynnjamm/status/1952583850359660823

And @jesse's excellent overview + analysis of "product tokens," also quoted: https://x.com/jessewldn/status/1947493831491912079

Most people on CT are still underestimating app tokens as instruments that can:

1) align incentives between users and teams 

2) a distribution tool to grow faster

3) form capital onchain, replacing need for seed rounds

Seems like Farcaster builders have figured this out first

brian flynn

jacob

@qrcoindotfun /basecolors @kondo /purplepeople

QR coin

building @dau and @boostxyz to help mini app devs grow onchain with token incentives. prev dapper, opensea

artist · creative director at @rainbow — /groupies

yonfrula

internet rabbit • comms @ /splits • https://www.sonyasupposedly.com/

🫡 looking forward to digging into QR specifics soon

thanks for the nod and looking forward to reading

great writeup sonya!  

succint and well rounded 🫡

building @tokengrade.eth | prev founding team RARA Social | Yak Collective | IIT Kanpur

Inspiring onchain creators through art.          
Unlock drops & experiences with $SYYN inside /siyana

Exactly, I don’t see a future where entrepreneurs don’t leverage blockchain technology to build things

a real "all of the above" financial instrument. very flexible depending on how the creator / founder wants to play things

If done right it can definetly work as public stocks and we love that

Project Coins.

Bc project coins have (1) usefulness and (2) committed builders, there can be a much healthier trading mindset vis a vis pure memecoins – where irrational commitment is only thing able to drive price, and where attention is so tenuous.

FC culture is built for project coins, and vice versa.

Memecoin vs Project Coin.

There is a natural tension between the expectations for a “memecoin” (what many build on X and Solana) and the expectations for a “project coin” (what many build on FC and Base)

Being a memecoin is kind of like being a public company, except you don’t actually produce anything except noise; and instead of shareholders worrying about quarters, they are worrying about weeks, days, even hours. 

While you want to try to hear out everyone who believes in what you’re doing, listening to this memecoin mindset is not the way to build a real and sustainable project — and that’s the only thing that builds long term value for anyone. 

I consider it important to signal to people that we will not be following the traditional memecoin playbook. I do this because I don’t want to create misalignment in what people expect. 

We are building to make something that is loved by not thousands but millions of people; that lasts not months but decades; and that not only increases prices but increases the net fun and connection in the world. 

This ambition requires a little more patience, but I believe it will be a lot more fun — and a lot more rewarding — for everyone involved.  

Let’s change the Token Playbook.

Insider Trading

Trench Demon😈📺 $BNKR BULL🐂
Mostly yapping on X/twitter nowadays. Health & Wealth. ex socials @evmavericks. /runitup 🦁Hosting hella channels.

Don't worry, we'll have a website with this stuff that's better than anything youve seen. Banners, listings, etc etc. We are syncing it (as well as gas for the first of interest) with our release on twitter this football season. Everything we've got working on farcaster builds toward this.

This sort of vanity / pump stuff you mention is not the hard part. We actually dont want to push on that button until we have built a real growth engine - ie a product that real people already use. Doing this prematurely is like pouring gasoline onto your bicycle chain.

We are building not to flip DraftKings, not $fartcoin.

I'd argue that we are one of the few projects in crypto that have anything close to a real product that people already love.

That's what you want to pour gas on.

Super well written article!
I like the frame of ICO <> Memecoin.

Here's a few things I wrote about what project coins look like from the perspective of the builder and holder:

Super well written article!
I like the frame of ICO <> Memecoin.

Here's a few things I wrote about what project coins look like from the perspective of the builder and holder:

https://farcaster.xyz/tldr/0x0a6eae34
https://farcaster.xyz/tldr/0xbede211e
https://farcaster.xyz/tldr/0xd34887a9

Evermarked. https://evermarks.net/share/evermark/27

Starship

Excellent read! Welcome on board as a holder of the new @strshp.eth project token 😉