ted (not lasso) on Farcaster

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https://warpcast.com/~/channel/ted

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ted (not lasso) pfp

ted (not lasso)

if you spend any amount of time playing around with consumer apps, you will recognize there are endless pseudocurrencies used to drive engagement and retention: coins in Duolingo, Reddit karma, TikTok gifts, robux in Roblox, gold bars in Candy Crush, bits in Twitch, stars on IG, etc. almost all of these can be bought with fiat. a few of these let you cash out as a user (e.g. creators can redeem tiktok gifts for or cash out robux via devex). and none of them natively allow peer-to-peer trading of their pseudocurrencies. and people love them and buy and spend them daily. 🤔

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Dan Romero pfp

> and none of them natively allow peer-to-peer trading of their pseudocurrencies. regulatory is the primary blocker

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The buyers are no different than the ol 90/9/1 social posting ratio. iirc it's like 1% of players account for over 50% of micro transaction volume. I think most game economies have avoided cash outs as it becomes a regulatory nightmare since luck based games edge toward gambling. Skill games like first person shooters tend to avoid pay to win as it ruins the experience for everyone, and instead focus on vanity cosmetic upgrades which have no secondary market since they're often unlimited in supply. MMORPGs like WoW and Diablo historically have had in game items exchanged for fiat secondary markets but I think they're usually against ToS and subject to banning if caught. All this to say that yes game economies do incite players but game studios are happy taking 100% of the cut, and players getting paid to play is a great misconception of why people play games (it turns into a job, ruins the fun)

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Jacob pfp

it's time to rain warps

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coinbrad pfp

Oh no my pseudocurrencies are expiring!

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ng 🌝 pfp

In games pseudo coins are used to create fully controllable economies, i.e. fun to play ones. When you make open economy it usually stops being fun for 99% of participants, especially casual ones. Most people play Candy Crash on the way home after work, and want to relax and not get monetary benefit.

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EM Ahmad.base.eth pfp

EM Ahmad.base.eth

We need to get back on warps and find some more use cases for them

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PesoBoy pfp

Whole world about to realize this & I don’t think nobody bags heavy enough.

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Kyle pfp

Runescape gp as a 10 year old were the gateway drug

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Alex Loukissas 🍉 pfp

Alex Loukissas 🍉

a kind of counter example: reward points on credit cards, you can transfer to loyalty points to airlines/hotels - with point-to-point deals between the bank and the merchant

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Alex Loukissas 🍉 pfp

Alex Loukissas 🍉

prob the biggest one: starbucks balance

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Joshua Fisher ⌐◨-◨ pfp

Joshua Fisher ⌐◨-◨

@joshuafisher.eth

Starbucks holds $1.9B in stored value on its app and gift cards. In 2021 alone, it recognized $164.5M in breakage—unused balances that become pure profit.

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cody pfp

this is true but I also think this is a feature for some of these apps, not a bug. once you make your token liquid, you open yourself to an entirely different kind of attention and speculation. this can be good or bad, it just needs to be considered and designed for.

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Nicholas <AESC> pfp

Nicholas <AESC>

One counter example here is the Diablo 3 real money auction house (RMAH) Diablo 2 had a strong out of game economy - even with its own separate currency! - via d2jsp Blizzard wanted to capitalize on that so tried to bring dollars into the game Whole game went to shit, everything was so cheap for the average player nobody wanted to play. To the point where they took trading out of the game entirely

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zemm pfp

This is THE take imo. Normie coins is the meta

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Inceptionally 🎩 pfp

Inceptionally 🎩

I am just waiting for an airline to put together a liquidity pool for airline miles. The trading fees alone might make them 10s of millions of $

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Clayton Mooney pfp

@mooneymillions

I told my Uncle about BTC in 2015, and he responded by sending me a pic of a CHUCK E CHEESE token. Then every time he saw me post about it, he’d send another pic, but with a different year on it. Pretty wild to see how many people associated the 2 more closely than I could imagine.

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Andy pfp

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Nikolai Yakovenko pfp

Nikolai Yakovenko

Yep. Trading coins among fellow users would be fun. Should be common. I guess massive multiplayer games had this, even 20 years ago. But didn’t make its way to iOS apps, basically.

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Giuliano Giacaglia 🌲 pfp

Giuliano Giacaglia 🌲

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