with the cb announcement today, we've officially crossed the chasm where there is more tokens than demand. if you're launching a token and not driving revenue back to holders, nobody will buy your token, full stop. attention games worked when there was less supply than demand.

Because we've had so many years of people LARPing as decentralized protocols, we now have too many teams building zero-sum products. We've swung the pendulum too far in the direction of not enough teams building decentralized protocols.

the peak sf experience is walking around presidio with your meta raybans talking to chatgpt about your latest idea

The best crypto applications with tokens are: 1. public utilities 2. (at least) two-sided marketplaces 3. has a fee

peak sf experience is walking around presidio with meta raybans talking to chatgpt about your latest idea

If your launchpad business model is designed for speculation activity instead of token go up, you're ultimately going to be commoditized. The best launchpads are more like agencies and align incentives with tokens being launched on top.

the future of crypto applications is pretty obviously having consumers getting paid for their time and attention (as people talked about back in the ICO days). the market has always been really inefficient at this, first starting with airdrops, then infofi, etc... these of course have been super inefficient spend since quality is low because it's hard to measure content. but convinced this will become much more efficient in next year or two.

for the last 5 years, it's been the highest ROI for builders to focus on building apps to serve the ~2-5k whales in the space. but now with farcaster and world the other side of the barbell (high DAU & low avg t/x value) is becoming easier to execute and is very underexplored

we don't need more launchpads. we need more distributors. more ways of getting tokens in the hands of others who are going to contribute to the network.

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