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🎀 sonya (in theory) 🐰
@sonyasupposedly
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/
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🎀 sonya (in theory) 🐰
@sonyasupposedly
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
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JAKE
@jake
thanks for the nod and looking forward to reading
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antaur
@antaur.eth
very informative and insightful write-up. thanks a lot. imo there is a *fundamental* difference between app coins with compelling token utility - and project coins where it's just a fan bet on the founder w/o any current or promised token sink! Bundling them into one category does a disservice to at least one kind. Who has / can make a visual overview / taxonomy of different sub-genres of project coins? To kick this off... Tier 1: core utility $Bracky by @tldr which you must have to place bets $NATIVE by @derek which is paired against any context coin in the game = buy pressure a la Virtuals, plus must hold native for other functions Tier 2: token-gate $CLANKS must hold 50M to access app Tier 3: optional utility $NOICE: you can use it, but it's one amongs countless of other coins Tier 4: memetic bet on the founder/project $CLANKER Buy-backs from fees is not utility imo, but can help with PA wdyt about this all?
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