The Great Speculative Exodus to Web3 Social
In the coming years, we're poised to witness a profound shift in the social media landscape, a phenomenon I refer to here as "The Great Speculative Exodus." This movement, which was initially sparked by the crypto market's speculative appeal, will rapidly evolve into a mass migration towards Web3 social platforms like Farcaster and Lens. The driving force behind this shift isn't just the potential for financial gains but also the unique experiences these platforms offer, particularly through community-driven token incentives and the innovative use of memecoins.
Inside Web3 Social: News & Breakthroughs in Q4 2023
A lot has happened since our last web3 social round up! While initially the weekly rhythm for this web3 social round up worked well, as there were a lot of things happening, there wasn't too much to report on during most of November. Then suddenly in December, a slew of news & announcements made the round. So I'm happy to pick this format up again. I'll keep it more of a monthly-recurring format for now though.Common GroundWeb3 Social: weekly round up #5Aaand we're back with our weekly summary of what's new in web3 social. A lot hasNov 12Without further ado here's the latest and greatest in web3 social.
Lessons on Points Programs for Crypto Apps
Across the landscape, founders are adding offchain points programs to their applications, from Rainbow wallet giving users points for using Ethereum, to Friend.tech building its engagement loop around points, to NFT marketplace Blur’s new L2 Blast incentivizing users with Blast Points for bridging funds (over $800 million TVL since November). In some instances, these points allude to a future fungible token with real economic value; in other instances, users have made that leap of faith themselves. This trend comes amidst a broader search for product-market fit in crypto and ways to engage users in the middle of a bear market.
Farcaster: An Example of Permissionless Identity
Last week I wrote an article a few weeks ago outlining what is Permissionless Identity and why it matters. This week I wanted to cover an example of a ecosystem/protocol/app that is the perfect example of Permissionless Identity and why it's better than most web2 counterparts.Let's get into it ☕️
