gm farcaster it is monday august 5th and you are here with and my guest co host jake who isn't on so we're gonna just see a speaking blue blue bubble but that'll that'll all make sense in a minute i'm very excited to have you here how are you doing today jake
i'm doing great it's it's been a little bit of a rough 24 hours for you and for me and for everyone so we'll we'll try to do a little disaster episode here and and hopefully make everyone feel a little bit better by the end
exactly yeah we're having a a rough day here we both have been traveling back from base camp you just got home and i know it took you about like 30 hours or something crazy i don't that might have been somebody else i can't remember
yeah no that was that was me
is that you
i've been i've slept in like 3 more hotels than i intended to and took about 4 more flights and trains than i wanted to so i'm home now and i know you're still in the middle of it but i'm sure it's gonna be a common experience
yeah it's been a little little crazy so for me it was you know first flight was canceled 2nd flight just got canceled but i made it so i made it from palm springs to denver and now i'm doing another hotel so i've been doing all the hotels i did post that i love hotels because i was kinda tired of the airbnb but i'd be like that didn't mean i wanted to stay in another one tonight so no
yeah here we are home beats home beats everything
yeah i'm ready i'm ready to be home but we had a great you know it was a great experience i loved you know being there it was a great energy but i am ready to be home i see alina in the chat
that she oh she's finally made it into the chat great to see you alina and she is just getting back from base camp also and alina i don't know if you noticed but you are again the cover art because i loved it and it was perfect for this episode when happy base campers return to the crypto market and it's the meme of the guy with the pizzas walking into everything on fire so yeah so congrats alina you're back you're back you're back at the cover so that's kind of where we're gonna start too is with the macro level oops that's not where we're gonna start hold on with everything that's going on with the markets and i don't think we need to rehash but it is a bit of a bit of a shit show
is is crypto is crypto down
no i don't think so no
i haven't checked i haven't checked the prices in a couple of days i i just thought everything's kinda status quo
everything's fine everything's fine have you checked the timeline no actually
no i've been i've been on 7 flights so i missed you know i missed all that
here's here's where you get all the news the memes channel so just go to the memes channel and that will tell you everything you need to know about what is happening and right now it's it's a little crazy so we're it's it's absolutely nuts and i the speaking of also warpcast is having some challenges so some of the things aren't loading the internet today but sparks have put something that said you know what is this when do we get to actually sell high because i'm buying low i've got that part down i'm really good at the buying low thing it's the selling high part that i'm having a challenge so yeah we're we're this is actually a very large macro moment you know problem in the financial sector where it was caused by some some you know financial management in japan so we're we're having we got hit with the crypto crypto market crashing this weekend and now we're seeing it reflected in the stock market so we were just we were just early we were just a little early monday opened up and there it went so we're we've got a little bit of a black monday happening some people are calling it bread monday so for the candles but here we are and hopefully you know we'll see a quick recovery but right now it's it's not looking great it's not looking great so head to the memes channel it will it will make your life a lot better i highly recommend it and that's where you should be living now for the next few days in other news so undefined tried to bring back animated pfps and they look great and you had an option to animate your pfp and then this happened warp cast degraded performance right now investigating this is this is a story in 3 acts and then no more animated pfps except i believe they are working on the web but they are no longer working on the app because they do just crash it completely so that is why you're not gonna see them on mobile but you may still see them on web but i did find this quite amusing you do not have any animated pfp except you kinda do right now jake you kinda have like your your your little blue your blue dot is is talking so i love that
yeah on the streams we get a little bit of animation but on on farcaster it's just the the stationary blue dot for now
the stationary blue dot which we're going to explain all about the blue dot in just a moment and there's been also a lot of it's kind of funny because even preceding this dip in this clock crash or whatever you wanna call it there's been a little bit of agitation on the timeline and so this was from dan why are farcaster builders so optimistic when x y and z bad things exist and his response my brother bad is the default it's entropy failure is the most likely outcome when building something new if you're not a definite optimist you have no chance in making it happen even if you're a rational person you have to be willing to suspend disbelief just enough to make the bet despite all the bad and then it's just week week of week prop i'd say week after week progress and try not to die mostly figuratively for years so i did love this kind of thinking and i think it also really connects well with what's happening in the markets because you do have a lot of folks who panic and they panic sell and you know sometimes you have to sometimes you have to take profit you have to make sure you've taken enough to sort of sustain through these dips but also trying not to panic sell before you absolutely have to is important as well but when you're building it's the same kind of thing it's thinking about like even if things aren't going exactly right keep going just keep going just survive so and jake i think for you as a builder you probably can see and relate to this as well
yeah there's like a few related things here to dan's post 1 is jesse posted i think earlier today as well this saying that i think comes from brian over the years which is basically like you don't wanna get over exuberant when the prices are up and you don't wanna be like super depressed when the prices are down another one is bezos has something like this as well it's like when the price is up 3 x you know amazon's not 3 x better when the price is down 50% amazon isn't 50% worse the price is always gonna sort of like you know swing each way and the other but the actual progress of the company is you know it's not necessarily linear like we've seen with farcaster farcaster had like a huge step up when like frames came out and it's never you know bitcoin is the same way in terms of price over the years it's gonna be volatile and there's gonna be like big steps up and then flat line for a while and steps down but you just can't really track company progress or asset progress or anything like that to you know the price because it's just too it's just too volatile and it doesn't really make any sense so yeah
i've always i've always said that as well like you know this too shall pass it's the good and the bad it's not just the bad that's
gonna pass
it's the good too you know so i did see that post from jesse i didn't get a chance to pull it for for the show but it's yeah i thought it was you know right right on point and really kind of relates to this even though this was a little bit you know dan was kind of talking about something else but it really does connect altogether so you have to you know keep going but also be be realistic too that you know these things are gonna happen and there's gonna be a lot of challenges when you're building something new
yeah my version more generally is like this is like the hook that i used to kind of remember is like the worst times get better and the best times get worse and that's just a fact granted you know we can't necessarily say it's a fact like today is the worst time so it's factually gonna get better but when it starts getting better you know that's you've gone past the worst time and so it's useful to remember for those bad times i think and then i try not to think of that quote too much when the best times are happening you don't want to always be expecting things to get worse or whatever but i kind of use it when things are dark because if it does feel like it is kind of one of the worst times sort of a hopeful hopeful little hook to remember
maybe a little note in the chat here darkest darks are next to the lightest lights from thompson art so love that yeah very true very true a couple other notes here this was from dan also again it's been a little spicy it's been a little spicy on the timeline merkel just helps its friends how many times do i have to repeat that most users and developers on farcaster did not know varun or myself prior to joining farcaster in some cases have become friends because they stuck around early when no one else cared we've spent years with these people socializing on this network don't conflate something that's earned with built with cronyism and i think that's really important and i think you've seen a few other people echo it and i think cassie said it best and i think this is a great example where she said when i joined farcaster i was neither an employee of merkle nor did i know dan or varun varun finally got me to onboard after multiple attempts conversations led to what i could do for the project and i became a part of the team i may not always agree with every decision but i can definitely confirm firsthand there is no help merkel's friends bias and for those who know why i quit cb coinbase they'd know just as well i wouldn't stick around at merkle if that were the case so i thought that was probably the best response to sort of that thinking and i know for me there's this feeling about the automod where certain people got a lot of followers i definitely benefited a little bit from that as well but i did not know them you know it wasn't that it was just that i was here contributing and they sort of picked sort of those people that were most active and that's how that came about so i think that you know a lot of times these things are a little bit overblown and you know just just chill just chill people just chill and then something else here that's kind of related as well psa if you have feedback for us farcaster that you don't feel comfortable sharing directly consider reaching out to someone you know i follow interact with see if they'd be willing to share it but stepping back here's the best way to offer feedback directly preferred 1 public feedback expect a potential reply if it's small we'll give you a short answer if it's longer or larger there's going to be a lot more weight into how it's communicated and how accurate it is are you up to date on everything that's going on 2 private feedback send me a dc i respond to most of them avoid a wall of text cold message as it's hard to parse also usually good if we have some public back and forth history first in other words and i know you probably do something similar if you're looking through your dcs and you have a lot of them you kind of have to you know triage a little bit and but if it's feedback and even if you started with that but if he knows who you are and you mentioned something before publicly he's more likely to dig in so asking for they're asking for feedback but also to you know make sure it's productive one last thing sort of in this section of various things that have been going on with sort of like the spiciness on the timeline from dan why would you build on farcaster frames actions clients if merkel warcast will just clone it if successful outside of trading coinbase uniswap there's no successful at scale revenue generating crypto based business today too the biggest constraint for all crypto app growth is users there are not enough people using in crypto today the market needs to expand based on increasing the amount of consumer utility provided 3 our goal with farcaster and workcast is to get enough scale where developers are able to build meaningful businesses without having to onboard more people to farcaster and or crypto themselves or separately if your product is really just a feature of another product your best bet at building as a business around it is finding the top 1% power users as a feature and giving them as many bells and whistles and knobs as they're willing to pay pay you for and 5 we actively try to support other farcaster apps in the ecosystem which is absolutely true and also i think the other thing to think about too is that you know building on top of farcaster doesn't have to be just developing clients it can be many things i think you know it's integration into farcaster it's even just using that social graph as a base to launch something that's you know what we're doing here in terms of jamf farcaster and supporting builders and what people are building as well as providing updates on what's happening all of that relates and i did see this also from balaji which was nice to see dan is correct products will be built on farcaster i want to use it as the social graph social login for crypto for both online and offline worlds which is different from all pre existing use cases of other networks twitter login is closest but it's nowhere near as open so jake i don't know if you have any thoughts on that and you're you're building on farcaster in your way and we're gonna talk about that in just a minute so what are your thoughts about why you know why build on farcaster in terms of you know for any anyone who might be building a project
yeah i mean base colors like we're not directly building on farcaster but we're definitely like farcaster first and it's super beneficial because you basically get this like seed of a community for other apps it might be more useful in that like you can literally create you know an instagram or whatever and then or tiktok like dracula and people's following you know graphs come into it and so like you start you don't have to start fresh on every new social network that you start for us it's more so like okay farcaster and and warpcast to some degree have sort of like done this hard work of curating an initial community from day 1 that was like really strong very like builder biased and just generally good people like i mean obviously that's like sort of a stereotypical overstatement but when you look at sort of like the the engagement you know look at comments and stuff on on farcaster on warpcast it's just a generally more like benefit of the doubt more like civil less dunking culture than than twitter and so obviously dan and team have a large part in in at least seeding that if not sort of maintaining that over time granted it's not all like completely within their control and so it's sort of like a good community if you filter that down to like okay we're gonna launch base colors we're gonna explicitly launch on farcaster first not just for the initial launch but like every subsequent feature then you sort of like get that message across and you start to build your own community as sort of like a sub community from that larger community and you sort of already have filtered out a lot of like you know maybe less desirable like lower quality folks that you don't want to seed your own thing so i can sort of do some curation like when i go and try to do a base colors meetup i this is actually a super useful sort of you know thing that we did with with farcaster we were able to basically build a base colors map of all base colors nft owners by finding you know people who had set their locations on farcaster so it's just a subset of like the total you know base colors nft holders i forget how many we have right now but like maybe somewhere around 15,000 and you cut that to like how many of those 15,000 have farcaster accounts and then you cut that to how many of them have set a location and you still have a substantial group that you can then see and it's like okay we wanna do a meet up in new york so this is what we did a couple of weeks ago like i sort of you know parsed that list got the new yorkers who had base colors who are on warpcast and then just manually went through you know however many it was profiles and was like okay this guy's kind of like you know posting you know garbage every day but like these people are like legit and so i'm gonna create a group chat with these 15 people or whatever it was like 10 of them were able to come and we had like a nice first meetup that we just wouldn't have been able to really do any of that without farcaster so it's super useful and i think even for you know these social network type clients that are building on top of farcaster it's even more useful but in general obviously i think we're all sort of rooting for farcaster to continue to grow and continue to be quality because it's just a great way for people to kind of seed the network on whatever it is that they're building
i think that's such a great point and that's this is you're like a perfect example of you're building something is not a farcaster client it's not you know it doesn't have major integrations it could be done without farcaster but what the farcaster social graph gives you is a jump start and it gives you like tools that you can use to really bring that community together that you're not going to get anywhere else so what you know that's just really speaks to that why you know why would you build on farcaster and it really does all the other tools and all the other builders that are working on it all of these things are going together like you know air stack and being able to pull information and be able to pull like all that you know data to do those meetups and things like that so yeah there's so many different things that i think you know make it such a great place to build and not only from the tech side and the things you can pull from the social graph but also the people and the willingness to try things give feedback jump in and be supportive and all those that founder builder energy that runs through it is special and you're not going to find it anywhere else and i think with basecamp we really saw that as well you know with all those builders in one room at the same time and you know figuring out you know how can i help you do this and what do you need over here i think there is such a great energy there and i want to kind of share this as well you were featured on the big stage your project was featured base colors so this was your thank you to inari so thank you inari for the onstage shout out of basecamp specifically great to be cited as a project making continual improvements because that's a big part of my approach in life base colors keep shipping and we keep improving we are not a 1 and done and i love that so i want to shift over here really and kind of give a basics of what is base colors can you chat a little bit about that and let's talk about what it is
yeah sure so fundamentally basecolors is the nft collection for every color on the internet also sort of just like every digital color basically so there's this for people who don't know but if you've ever picked any color for anything i don't know if you're a designer or you've just done anything that required you to pick a color on the internet in figma or wherever it might be you're basically picking a color from this rgb model and that's the hex code that you'll see which is like hashtag and then there's 6 digits and when i say digit that's any value between 0 and 9 or a and f so there's it's like a 16 digit system as opposed to you know 0 to 9 would be a 10 digit system and so 6 digits of 16 possible characters results in a system that includes 16,777,216
colors and i've been saying i've been saying that big number quite quite a lot recently
i know i've heard you say you just rattle it off so yeah
i'm trying to like get my time down to where it's like i can say it like super fast and people are like woah but for now it's like it still takes like i don't have to think about it but it's just a lot of numbers so so anyway it's this collection there's there's a one of 1 nft basically for each of those colors and so you can imagine you know the color black which is the hex code 0,000
that's gonna probably be considered pretty you know valuable there are people use the word like rare i don't i try not to use the word rare because they're all technically the same rarity like they're all one of 1 but there's only one black and it's pure black and if you click that blue address there it'll bring you to open sea where you can see that the owner of pure black is phil i guess he's got
it it's
purple dial purple dial wallet
purple dial 15
exactly and so he meant to that you know i forget if it's like the 2nd or 3rd color minted overall but phil was instrumental to the the launch of this in the first place and naturally wanted to you know make his claim on pure black from the get go i i meant to the first color as my pure blue which you see here that you know the blue dot that i've used for years which is 0000ff
so the first thing to kind of understand is the collection for every color every color is a one of 1 the second thing that we sort of added on top of that is every color has a name so for this one for example if you go down scroll down a little bit to traits exactly see blue there so on base colors.com the owner of a given color can name all of their colors but you can only name your color a name that hasn't already been taken so the colors are one of 1 and the names are one of 1 and suddenly you get this sort of interesting dynamic where like someone could perceive you know coca cola red to be somewhat valuable because it's the legit hex code for coca cola red but then separately someone could just go and get like some random shade of pink that doesn't have like really any inherent value of any kind but if they get the name bubblegum and it's like a nice shade of pink that looks like bubblegum you know it might not be the most valuable color in the world but someone might prefer that to a different shade of pink that's like pink 1756 farcaster or like some you know non special name basically so there's sort of like 2 elements that could be potentially viewed as valuable there and then there's actually a third which is beyond like sort of the look of the color or whether it's associated with a brand or something like that and beyond the name the hex codes themselves this is actually something that i wasn't really thinking about prior to launch but soon after we launched people went and got these sort of seemingly valuable hex codes so one guy got like coffee which is c o f f e e and you can sort of like make words out of the hex codes coffee happens to be like a a light blue so it's like kind of weird but you know it's still like might be desirable to some people of course people are going to go out there and they got like 4 2069 and like every different combination of 4 2069 that you can imagine and you know those aren't the colors that are like sort of first on my list but people will do you know what they wanna do and it's been super cool to see what kind of colors people want you know get going getting your brand colors is like a common trade or colors of your personal website things like that so it's we we've got off to a really cool start it's been a ton of fun and i'm working really hard to just make things better and and try to launch some new cool stuff and right now we're really focused as well on sort of collaborating with people in in the base ecosystem people on farcaster and it's been know a ton of fun doing that so mike on farcaster went and launched color punks a week or 2 ago which was you meant to black and white punk and then you can use any of your base colors to color it in and there's so many base colors but you can launch a collection with you know in this case there's only a 1000 color punks so there's like you know scarcity there and people are really digging that and we've got a few others in the works so it's been a ton of fun and i'm just kind of excited to see where things go and and just you know motivate and keep going
it's really fun too because you can do like the dropper thing and get the exact color so this color purple is the gm forecaster color that we use like in our branding
yep
so i pulled it specifically and then named it gm and then there's a few other things like i pulled this one this is this pink right here is the noun flamingo head it comes from that so that's why it's called flamingo so i think it's flamingo
yeah like on that purple the name gm should age pretty well
yeah i think so too so i had i had so much fun doing that i thought it was just it's just a really fun thing and i think this one i forgot what i named this one this is oh this is also gm never mind that's not it there was there was just a lot of fun in doing these different colors and different naming really really fun oh this is
based in blue that's what it was i was like there we go that one
was you like targeted some folks on farcaster and sent them a color and named it after them so this one is nownish red is the one that you sent to me and it comes right from my pfp
exactly
so and it's very very cool so if i actually let me see it i think it should come up it matches my pfp completely
it was a it was a highly manual launch strategy but i think it really paid off and it was certainly a lot of of fun to do it yeah
i think it's really fun it got my attention oh you named a call and it was because it was exactly the color it really got my attention i was like oh that is cool that's really cool and i wanna go in and name some name some colors now so i had a lot of fun with it
yeah i mean if you think of like the alternative like do the same exact thing that i did but without the personalization and with a different nft project it's like okay someone sends you like you know a tiger or like a you know a bear or pfp or something and it's like you know some collection you haven't heard of like if someone sends me you know a bored ape like a legit one and it's worth you know however many 1,000 of dollars then sure like i'm very happy about that gift but otherwise if it's like some new just getting off the ground project where there's not a particular value for the nft and it's not personalized or anything it's like kind of a spam message
yeah totally
but when you get something that's a color that you recognize hopefully whether it's from your pfp or your company or your personal website or whatever and it has a name which can actually guide you to what it's from so you know even if someone just tweeted something or casted something recently it's not like from their personal website but maybe there's a color to it maybe they you know were just casting about how much they love like the rocky mountains and you pulled like a nice shade of like purple or black or purple or blue from the picture and then like name it rocky mountains they'd be like oh wow like he really you know saw that i was in the rockies recently or something like that so it was a really nice gift and then it actually informed sort of the 3rd feature that we added on top of just buying and naming colors which was gifting colors and so now you can go if you have a color and you go to base colors.com and you look at your colors there's this big gift button that you can click and you can easily send a color to you know someone who you know their eth address or whatever or their ens name but alternatively to that we wanted to build we wanted to build everything in a way that literally like anyone could do like you don't have to be crypto native at all so if you come to the site without a wallet you create a smart wallet using face id in about 10 seconds you can then pay for your first color with credit card so you don't even need to need to load it with crypto or anything the naming of the color is a free transaction and we sponsor gas so again you don't need any crypto and then if you wanna go and send a gift you can click the gift button and there's this gift with link option that just generates like a standard link as if you were sending someone to anything and you just text them the link and they just click the link and they're good to go and it's like this super easy process it's actually using the same technology that coinbase uses for the you know text usdc sort of feature that they have in their wallet and so the goal is to have the website be totally engageable for everyone but you know i'm not blind to the fact that a lot of our initial users will be crypto natives and hopefully those are the sorts of people that can then go and spread it to their non crypto friends but i think it's been a i've onboarded so many people on chain using base colors that that's
really cool
i've been friends with for a long time and i've been into crypto for a long time but i just never really had that thing that i felt that i could share with them to onboard them i told them to go to coinbase and buy bitcoin and buy ethereum or maybe some solana or whatever but i never actually got them on chain because it just wasn't really feasible and now with smart wallet and something very simple and easy to understand like this it's a walk in the park and it's been really great to be able to do that with my own product
so you and moshicam are both doing some cool things like that where it's very it's it's not it's gonna be very attractive to non crypto folks and i and i think the easier that you make it for the onboarding process there you go you know it's going to be and i loved hearing everything that they're doing with smart wallets and sort of the development there i think that we're going to see a lot more opportunity for folks to kind of come into the space and have it be a lot less friction in doing so and that's a great example i love this post that you had here the joy of receiving one one color as a gift personally selected and named and this was from palowhead who received a gift at bighorn just sent me the base color for my fid he even gave it my name grabbed his bar card to get amazing surprises as well so i thought that was kind of cool and all this like sort of sort of gifting things and i did also just show tori who's in the chat right now dropped in her the hex code and i popped that in there so we could see her her color but she said she still has to name it so tory you gotta go give it a name it's time to give it a name yeah
that that color is that color is begging for a name that's a nice little yellow there maybe a little green involved and just just waiting to be named
yep so you gotta go give that a name so chat help tori name this she needs she needs some help there i think this is it's a it's really fun it's just a very fun thing like i was thinking today like even we could be doing you know colors that represent that that day so obviously this would be a little dark but since black is already gone yeah phil phil needs to
phil needs to rename his color to just august 5th 2021
august 5th i'm just gonna call it august 5th from now on but i thought i just think it's a it's a really fun project it's something definitely worth checking out and sort of diving in and i think i was i was just thinking today i'm like i should go just play around and need some more colors it's a lot of fun yeah so we found
gifting the gifting is so good like you saw
it's so smart yeah it's fun
you know the that tweet which was the guy like getting the gift from someone else and so i've obviously sent a lot of gifts and a lot of people have received gifts from me but the sending of gifts you know not quite as popular thus far but if you try it once it's like almost addicting it's like you know the colors cost i'm used to saying you know around $3 but today it's probably like you know closer to $2 sale exactly
and sale on on base colors today you didn't i didn't even know
yeah the colors it's a 30% off discount you know we we didn't necessarily control it but it it is what it is so you know you go you get one way
to look at this right now i mean what else can you do you know so i think that's a great way to look at it lots of things are on sale go get them
and and like how many you know how many gifts that are literally less than $3 can you send that are like actually meaningful actually create like an emotionally positive response there's like very few things they usually require a good deal of effort so like you know you send someone a letter that costs you you know the piece of paper which is trivial it's basically nothing or a postcard or whatever it's even a postcard is probably more expensive than a color but whatever it is like the the value comes from from what you're writing but here it's like it's not even that much effort you just you know meant the thing give it a name and send it over and you're good to go and you don't need to send it in the mail or anything like that it's i think it's an interesting digital gift i don't i'm not really familiar with any digital gift that is as cheap to buy and as personal and meaningful to receive you know if anyone has any ideas i'd love to hear about them because there's probably things that we can learn but it's really it is really a meaningful gift for whatever reason i mean not for whatever reason i kind of know why but it it's cool and so receiving them is great sending them in my view it's you know it's even more fun so people should try it out
and i love gifting things so i know that's gonna be something i'm gonna be doing and i was i was just thinking as so i've got my my mug that i picked up yesterday i picked no this morning at the airport at palm springs because i love the architecture there so i was like oh this is perfect and i need to go like pull one of these colors and and name it name it palm springs or something
yeah we need to i think the way to do i need to like facilitate that a little bit on the website but i think the way probably is to have an upload image button like simply right right where the other color picker options are and people can upload an image and then use the the eyedropper that you mentioned earlier to to figure out the color without having to you know leave base colors.com or do
that would be cool because i think the way i was doing it was canva i think i was doing it like in canva and pulling like using their dropper pulling the numb pulling the hex code and then putting the hex code in yeah i think that's what i did
the like power law winning things that people are having to go outside of base colors.com to do for the sake of you know using base colors in an interesting way are are things that we probably wanna pull into the site i wanna keep it like super minimalist but
yeah
i think having an eyedropper on-site is the move and having an image upload to be able to use that is probably the best way to do it
i think that would be great yeah it would definitely make it a lot easier but i was like okay i know i can figure this out and it just took me like a you know a little bit to like okay now i know how you do it just go to because i was like how did he get the exact color of my pfe i gotta figure this out so i was like okay canva i'll get the number so that yeah that works but it works great to do it that way as well and that way you can get like a meaningful color that's you know meaningful to you
yeah
i do have a question like what sort of inspired this and drove you to wanna create this
yeah i wish i had almost like a more you know a connects to b connects to c origin story but the best that i can really remember it is like a few years ago really busy working on on other stuff but had this idea as sort of like the nft hype cycle was going in maybe like 2021 2022 that you know i've seen all of these nft projects come out that basically just look the same as one another you you've seen some people do some interesting experiments but for every experiment there's you know a 1000000 copies with a different animal or different glasses features or like whatever it is and that's all just like very uninteresting to me i'm like not to be like whatever but i just i don't really care for like a bunch of me too projects i wanna see things that are actually new and different and useful and sort of original and so i don't really know how it came to mind in the first place but i just thought that the digital collection of colors was like the most fundamental possible nft project and because i mean if you think like what's the most fundamental element of all art it has to be either colors or like lines or shapes or something like that and lines and shapes don't have any non arbitrary collection of like you know there's an infinite number of lines there's an infinite number of shapes there is a sort of defined universe of colors in the digital world and so it seemed like the singular best like sort of collection i don't mean to say like this is the best project or anything like that but in my personal view it's the most fundamental sort of nft project that you could create and once i sort of
had that collection of 1 of ones too
exactly that's really cool yeah and these days
that's pretty cool
yeah it's truly nonfungible these days you see a lot of nft projects come out and like the only thing nonfungible about them is the token id like the art is actually the same for all of them and that's not all projects but that's a lot of projects and in which case i almost i wonder like why they're not just fungible and maybe that's why a lot of them are becoming fungible now and fungible tokens are becoming sort of more popular like these meme coins on
right
you know pumped dot fun or whatever if there's nothing non fungible about it just make it a fungible token and and have fun with it or whatever so anyway sort of started there with what if you had an nft collection for for every color on the internet and then sort of you know quickly finding that the rgb model which is sort of the universally accepted you know collection of colors had 16,000,000 and change that also introduces an interesting element where most of these nft collections have you know 10,000 pieces or a 1000 pieces or something in that range and here you have something with 16,000,000 and like what does that supply more similar to like the bitcoin supply you know it's somewhere in between like these large 1000000000 coin fungible meme coins and these 10,000 piece you know nft collections and so what does that mean well for one it means that the prices wouldn't be expected you know the floor at least wouldn't be expected to get in the 1,000 or anything it should always be an accessible price because there's so many of them and that wouldn't have worked on ethereum so i felt very fortunate even though i had this idea 2 or 3 years ago i actually don't think it would have worked even really a year ago it sort of required it had to be built on an l 2 and i think base is great obviously chose it for a number of reasons which you know i could talk about but most people here probably just get it without me having to describe it it would have been viable on on something like solana or something as well or optimism or whatever but i i think base i'm really excited to be betting on base by building this and then you know smart wallets was also critical and smart wallets are only like a month and a half old or whatever and that makes it accessible to everyone like we talked about earlier yeah i think it's it's not really important if you have sort of a niche art project or whatever you don't really need to worry about appealing to everyone or making it accessible to everyone because the art itself isn't really appealing to everyone but if you have something that has the potential to be universally appealing something as simple as colors then you sort of have a responsibility to make it accessible to everyone both in terms of the user experience and the price and so all of that sort of came together and then like i mentioned earlier the one of one names was i think a really important addition very good that only really that only really came up as we were building it a couple of months ago so i feel really good that like sort of the the base no pun intended or or the foundation of this project is is super strong and and again phil was super helpful in in making it that way like everything is on chain and we just did it the right way and then avanash who's also on on farcaster you should go follow him at avanash nayak has been you know just behind the scenes absolutely grinding to to get all of this out and produced and has been sort of developing everything you see with the website and everything like that so huge shout out to avinash and yeah it's been like i said a ton of fun and just excited to see where it goes
i love it i think yeah i don't think it would be the same without the naming i really don't i don't think i would be as interested in it
yeah yeah
it definitely is is a key key factor i'd even love a way to add other traits like if i'm naming it gm like if there was a way to add something to the description or add something like that points to gm farcaster or you know what i mean so so that people could get what the connection is to the name
i'll reveal a little bit of alpha here that we built something in yeah we we gotta queue the alpha song but we've we've got a feature that i don't really expect to use anytime soon but it is built into the smart contract which is this concept of emergent traits and so to your point if you wanted to for example add a url we could actually build a trait that would be picked up by opensea and everything else that in the future we just add a field on basecolors.com where you can not only modify the name but you can modify the url and suddenly every color not only has an associated one of one name but it has an associated url and those urls we have the ability to make those one of 1 or we can make them not one of 1 so if you have a 100 colors and you wanna point them all to your podcast you could totally do that
that'd be great
and then they would be you know they would be picked up by opensea and everything else so i'm excited about that it's not something that i expect to use in the near term but it gives that flexibility for like i didn't wanna do anything with the original contract that was irreversible and potentially regrettable so i tried to think of sort of the universe of things that we might wanna do in the future and that sort of emergent traits ability where they can be 1 of 1 they could be not 1 of 1 they could be owner modifiable they could be sort of centrally set so for example if we wanted to go and say hey here's like a universe of colors or like a subset of colors for example you know 3 digit hex codes so not to go down a rabbit hole but the 6 digit hex codes if the first two characters second you know the first two characters the 3rd and 4th character and the 5th and 6th character are the same so it's like aabbcc it can be abbreviated and this is acknowledged like when you're coding and everything it's like you can use the 3 digit hex code and it's so that one would just be a b c and there's only 4,096 of those out of like the 16,000,000 plus and so we could centrally go and decide hey or even decentrally it could be decided but then centrally we would go and implement that trait and suddenly everyone with 3 digit hex code would have like a second trait on their their colours which would sort of acknowledge it as such so there's a lot of cool stuff that could be done i could talk all day about this stuff but i don't wanna go you know too deep in the the color verse it it can get a little bit over with
i love it i really love it it's it's so much fun and i love like sort of where you're going with with it and it's something that you know anyone can ex access you know it's very you know it's not expensive it's it's very accessible and inclusive
thank you so yeah it's and because it's different like that it's you know it's we're not competing with anyone yeah and so what's really cool about that is like at basecamp like half the people i talk to we could immediately find a way that base colors could be integrated into what they were building you know if you're an artist you can go like mike did and you can launch a color punks collection where you can color in your punk if you are building you know you mentioned moshicam earlier i would love for moshicam to have you know in their sort of different tabs for picking the frames 1 of the frame one of the tabs could just have frames that are colored with all of your base colors and you could change from that so there's like and i think i just saw a tweet before i joined this that you know the guy who's building who's building you know minecraft on base i met him at basecamp and he's already talking about he's launching a feature to integrate base colors for i think the color of your chat on minecraft so there's like a million things you can do and it's like i look at all these other nft collections and they're they're not competitors they're potential partners absolutely and that's just a vibe that's really exciting to build around
i think that's very barcaster ish as well of people building on top of each other and often permissionlessly and we see that a lot with different projects we know a project will launch and then somebody will do something not necessarily derivative but something that builds off of what they did and i think that's a little different than what we normally see in the space
exactly yeah it's definitely on brand with farcaster and and on brand with base as well
yeah definitely alright we're gonna call it there this has been an awesome chat thanks for popping in thanks for being my cohost today we've had a crazy day we're you know gonna do this at 8:30 this morning and then my travel got it got nuts but i'm glad we were able to still make this happen and you know go check out base colors hang in there everybody just survive it'll be fine and we'll be back i'm gonna be back hopefully like let's assume that i get home tomorrow i'll be back on wednesday at a regular time 8:30 am and my co host will be tony hawk so thank you so much jake we'll see you on the timeline and with that everybody bye bye
bye