gm adrienne hi it's monday we're back did you have a nice weekend
it was very chill i went and got a massage and i was all kinda happy so i'm very chilled out but i do have one question and you can answer me when we get back from our forty second break but my question is has it vryv we'll answer that question in forty seconds
welcome to gm farcaster bringing you everything from breaking news to spicy memes to the deep lore shaping this vibrant digital community more than just a show gm farcaster is your digital third space where the community connects the stories unfold and the culture thrives whether you're a daily caster or just dropping by we've got the latest buzz to keep you plugged in so grab your coffee and let's dive in with your hosts nounish prof and adrienne for another episode of gm farcaster
so how's it for did you watch the in other words did you watch the season finale
i watched it last night and i'm very upset we do not have a department of choreography and merriment and merriment on farcaster
that was almost my background today instead i just went a little bit you know straight up
i've been so lazy with -- i've been so lazy with my backgrounds i don't know if you've noticed
but i was i was gonna put him but i i felt like i was gonna put him drum mister drum in there but i i felt like that was just too much
choreography and merriment
absolutely you are now that department miriam this and this was funny from i responded to this and completely like because it was just i just this is my new response to things gabriel oeso sometimes one chooses violence severance is this is he was responding to vocal cry i think this is on twitter severance is a one zero five iq person's idea of a one thirty iq show and then gabriel said being contrarian is a one zero five iq person's attempt at being like a one thirty iq person and then said something else and i'm like i i can't but but really it all comes down to has it verve and it does it has verve i think farcaster has verve but we wanna keep it alive and this was so funny from aneri this is an ikea ad brilliant it ikea ad brilliant
i mean not me personally but i did see somebody respond underneath saying why do i suddenly want cubicles in my house like for real so apparently yes i don't know like no i never wanna work in a space like that i've worked in spaces like that i don't wanna ever work in a space like that again but that's kind of the point right wanna work at lumen
know no well you know what that's a good point like would you ever want to like have an opportunity to completely lose your memories even the bad ones
yeah not for me but however there are things like emd emdr therapy which can be very helpful for those ptsd things that you really don't want to remove
yeah i do a lot of like mindfulness meditation yoga and like i like to train my brain to be able to release things but just the concept of like actual severance no
yeah no no no desire for that no need i like to have my my work life and my life i kinda compartmentalize things but not in a completely crazy way
in a healthy way boundaries people healthy boundaries anyway in other news that disturbed me this morning i found this i found the lack of faith disturbing there are people on farcaster who haven't seen star wars i am disturbed by this fact adrienne please tell me you've seen at least the first three star wars the like episodes four five and six
okay thank you
love love all things star wars you do me a quick favor and just text me like really fast just text me anything just really quick yes right now
yeah just just do it just do it i need to i i need i just i just need you to do that really really quickly just anything doesn't matter
did you hear that that's my text tone people that would be r two d2 it's been my text tone for i don't know decade and a half or something so i kinda take this to the next level but this is in response to
this is literally someone who was not alive when star wars came out so it's like i understand fine
this was this was in response to naomi's list of movies and shows she still hasn't watched lord of the rings game of thrones breaking bad the matrix jurassic park and star wars and i just had the biggest issue with the star wars one i also had an issue with six same for all of these except for game of thrones six i expected more of you i just did i don't know why i mean naomi's from great britain maybe it wasn't a thing i don't know no
naomi's like on the track training and she's got excuses clearly doing better things six excuse what's your excuse like what
and also i realize some of you are very young so i don't necessarily blame you but i do blame your parents i'm just gonna say it there's something wrong there so my child has seen all of them
okay no no no no let me rephrase that my child has seen all the star wars movies not all of them
oh that's fun
yeah yeah game of thrones i want them to watch i just don't know if i need to watch it with them
no that's later later when they get older yeah
oh yeah how was that
great whitney cummings 10 out of 10 excellent stand up she's like just a really good stand up so good but the opening opening act was talking about watching movies with your parents and his joke was like why is it that every time you watch a movie with a parent like it turns into a porno within the first thirty seconds like there's just notes
i've done that before too when i've watched something and i'm like okay i i shouldn't have this is this was unnecessary to be here with mom yeah so i'm not saying like yeah just star wars is is family friendly and you should watch it with your children like hello there are disney rides
here's the problem though right so like if you actually rewatched star it's like it was the first of its kind it's telling this epic story of good versus evil okay but then so many other movies came out afterwards and they copy star wars but then they make certain things better
sure
kids in their thirties
you know the kids the kids in their thirties when they go to watch like the original star wars like they it's not good
i get that no i get these special but you have to understand that at that time it was groundbreaking so it's like watching a black and white movie it's like watching casablanca or you know like the sets are ridiculous you know what i mean or or gone with the wind like no the special effects aren't great they were amazing for that moment in time but also you should watch them
anyway moving on
oh my god that would be really fun i would enjoy that but yeah i was a little i was a little put off by that okay back to like actual farcaster news but this was just things i saw in my feed this morning that bothered me that will move on to other things little rant for the morning this from bradq at twenty nine seconds of farcaster what did you miss this weekend drop your answer no cheating it was quiet let's call it a crypto the game hangover plus dan was either skiing or trying to increase qdau for snow dan did drop some really beautiful photos in snow so go check that out if you if you like that sort of thing i hate snow but the mountains were brachy was not quiet with march madness and an airdrop some funny moments with brachy's saltiness and occasional hallucinations but you can clearly see where brachy is headed t l d r and brachy up farcaster airdrops are coming for this week which will be interesting reminder to verify a solana wallet there's been no specific there's definitely a solana drop but there's been just inklings right i don't know anyway interesting jacek dropped a new degen liquidity pool with beefy garrett revealed mechanics for upcoming upcoming higher arrows a farcaster and higher spin on jack butcher's checks and people continue to explore wojeet's dream feature of farcaster earnings in exciting news burp burt mamups graduated puppy school that was like the best news and celebrated with his first pup cup headed for top 10 rewards by the way and then a little shout out to us and phil as our guest who is coming later hey bert congratulations doctor bert i believe it is now phd so great job bert and yeah and he met a couple other puppies on the timeline over the past couple days as well this in actual farcaster news first snapchain block officially mined we'll be spending the next week backfilling all data to snapchain before it's ready to be used so we mentioned this last week if you're running a hub you need to go just look at v's posts about moving to snapchains from hubs is what i will say because it's way too technical for me to elaborate but it's important and then this from deodad what we're working on to make frames better right now rebranding from frames to mini apps we'll discuss that in a moment a new llm friendly standalone doc site rethinking developer tooling from the ground up a one point o of the frames sdk with improvements to type safety error handling security and hooks for better debugging i'm just saying words at this point so adrienne please jump in what does that mean
the frames sdk it's just like a library that other developers can use for shortcuts and they've added type safety or handling security and hooks for better debugging
mean okay new apis for viewing and swapping tokens composing cast and continued improvement to explore and rewards i don't i just don't know what these things are so but they sound important and needed and necessary
listen the takeaway is markle is wanting to make it easier and better and faster and quicker and better experience for devs to create more frames
that's the important part yes for sure and also we gotta talk about the name of things so this was funny cojo put a poll out and it said what should frames v two be renamed and mini apps one faps was the other option that came in second faplets and apps and he said faps came dangerously close my quotecast was can we just know we need to
yes i've known the whole time and i keep trying to direct people away from this word and nobody was listening so i finally had to go look
the 50 some people who chose that in the ponder poll and was that a poll or was that a prediction poll
i think it was a prediction i think it was a prediction but also there were many so there were some people who were like oh i gotta get that off the screen also frappe fine this is lovely by the way yes deodadq i still don't know how to say your name
esdotge this is great i love this look but there are some people who are like no that's the joke and i'm like a lot of people aren't getting the joke
this is what i'm saying
this is exactly what i'm saying so please let go of fap we're not calling it that fap is fine but also how about just mini app and we can all just move on
yeah it's like not everyone is an english speaking so exactly it's not like not everyone is a teenage boy on the internet or is perpetually online and understands slang either
so right or listens to various or listens to rap and hip hop i mean like i get it i get not everybody knows this but i'm like okay it's time it's time to like understand that this is not a good idea also i think the idea of renaming it was so that people outside of our ecosystem would have a better idea as to what a frame was that doesn't help it does not help at all frankly nailed it as a frappe but if we wanna call it that internally fine we
mean poor linda you want linda to go out there selling that come on she can't sell that she could sell mini apps come on people it was a lot this from me a few counterintuitive things we've learned building fc i really liked this people make people sign up on mobile push push notifications and little red dots on the home screen are the lifeblood of social apps most users who sign up on web will simply forget to come back so they did start building on on web first before doing the mobile app so the and and dan has said many times i wish they had started mobile first and i think they've said 80% -ish use mobile i think something like that do you use mobile or web more primarily now
yeah
same but i have it when i'm at my desk and i'm working i have it open in in in web obviously i use web as well but i mean i used to i used to get on dan all the time because they would claim everyone's using mobile that's why we have to prioritize mobile and one of the reasons i didn't use desktop is because there was latency it wouldn't work as well so i was kind of like forced to use mobile because it was better
so it
yeah i use both i really do but when i'm playing games and stuff i use my phone obviously wait
but he's also right like it's a it's a social app it's a consumer app where am i doing it like when i'm waiting in line at i don't really be in line
the bank
no bank waiting in
the bank i literally don't go to the bank so i didn't know what to say when i'm waiting in line to get
a coffee i don't know i don't know i usually order a hand in my car in the drive through waiting yes something like that at the
my phone out you mean things like that don't do that yeah alright moving on make your homepage a sign up screen not a feed preview which i think that was interesting three don't be afraid of longer onboarding if it leads to better retention a user commits to signing up they're much more likely to complete onboarding steps interesting
four following feeds are bad what do you think about that and this was goes to everyone thinks they want a following feed but even the people who ask for it churn faster when they get it do you use the following feed or are you more of a home feed person
same and trending and i will i will die on that hill i'm on the trending hill
yeah feed
me there was a time when the network was tiny and all we had was a following feed and it was great
right because and
could exactly
very quickly scroll through see everything that anyone said in a given day it was great that's not where we are now following feed is
is the place yeah for sure
home feed home feed is the one following feed just not enough content or too much content depending on how many people you're following phil is in our green room we're gonna go through just a couple more things and then we're gonna bring him on up and talk about amps so this from dwr looks like we have three airdrops scheduled in the next ten days and at least five more projects in early discussions reminder if you're a developer please reach out to linda and if you want to improve your chances for having a developer offer you an airdrop see the advice below use frames cast a lot etcetera etcetera in other words just do the things transact on chain far i wanna say a couple notes for farcon new york far candles two are now live get the bigger brighter and bullish farcandle it comes with exclusive event access to late night with humankind for only the first 60 contributors at farcon i will be buying the candle late night we'll see late night i'm likely gonna not
yeah what time what do you consider late it's what i'd like to understand we may have difference of opinions this from humpty who's going to farcon in may and wants to attend an exclusive creator event that i'm hosting if you are a creator please reach out to humpty you are gonna wanna be there i have some notes from him as to what he has going on and it's gonna be really good so it's gonna be happening the same day as builders day so if you're a creator you're not a dev you're gonna be in town talk to go go jump and talk to humpty and then this we just set up a nouns bounty channel so for nouners for the bounty that we did with jim farcaster the sponsorship as well for the summit and then the bounty for builders day there's a channel now so little nouners and nouners will be able vote on that bounty when it happens couple other quick things adrienne wrote her fiftieth substack if you're not reading adrienne's substacks like what are you doing with your life you really should be they are good
this from linda which i loved first few weeks on far caster team has been intense but i love it it's super fulfilling getting to work on a product i've loved as a user and a builder for so long but also one i truly feel helps push the crypto space forward with an incredible team and community love that this i'm gonna say really quick this was oops this is amazing we're not gonna show it but this is your your video that you put together when we were at east denver showing everybody's favorite channels and this was my favorite it was amin san diego and pro wrestling okay yeah did not see that one coming so that was funny go check that out there is one more thing i'm trying to find it oh there's two more things found out from my this is from matthewfox found out from my mother today that my mother is stalking my warpcast profile hi mom she doesn't have an account yet just checks in while logged out gonna fix that so go say hi to matthewfox's mom who is trolling his account i saw a lot of these going out and i felt like it needed your notes this was from xcopy who we love i thought i was late to to fc 98.4% of users joined after me framed by a cashlessman.eth every once in a while they start going around again
it's so funny when they do right like eth where does it come from and then everyone has to share like the frame and talk about when they joined farcaster i love it
and you're still early you're still early to my point and also one more point go ahead
go ahead okay yeah if you're here you're early like everybody is is early on farcaster but also your fid is not your worth when you joined farcaster is not your worth don't worry about trying to you know compare yourself to people who are here earlier than you
and also just always know linda was here before you period full stop 100% literally 100%
and because it's think she's 12 or something like that double digit correctly
yeah linda was like 12 i think if i remember checking let's check shall we yeah 12 yeah she's twelve so there you go you'll never you'll never be earlier than linda unless you are jacob jacob is eight why do i know these things lord knows one last thing we're gonna be doing a little hey i have something to tell you adrienne by the way rachelw has sent me 50,000,000 good tokens that we are gonna be distributing in two ways one our lovely chatters who we love so much so if you are contributing good comments and questions especially when we have phil up here on the stage we're gonna be sending you some good token into your warplet and also if you mint any of the episodes from now through when rachel's gonna be on next wednesday she'll be filling in for adrienne as my cohost so now through then each of those episodes will be dropping some rewards for minting our podcast on pods.media so there you go and that is it that's enough of that should we bring up phil are you ready yes anything else before we bring up phil
here we go
time for time for amps let's go gm
i'm good how are you
we do yeah i know it's very special it's virtual champagne we got a little fruit plate for you we know you're healthy
i'm in it what's your fid i forgot
i knew it was really low i just couldn't remember how low
it was a it was a funny story someone came into the the bright moments gallery in venice when we first started minting crypto venetians and was like hey there's a startup down the street on abbot kinney and it's like a new crypto social network but just to let you know it's pretty sketchy you have to like download a dmv file and put it on your computer i'll say yeah sure sounds fine never met the guy no problem and so
and and that's why we love you
that sounds great
that's the worst that could happen pretty sure dan still has on my keystrokes for like the last four years so
that's hilarious that's really funny because i knew you were like super super early i don't think i realized that early i knew you were like triple digits somewhere
the venice cabal the venice cabal that's probably why and that's why ted's like two thirty nine or something like that
so it's series venice fomo and now that waj is there and is just like living his best life in los angeles i feel just incredible fomo every weekend when they're like going on hikes and stuff so
but he's posting pictures of the highway i was like he's like i love america i'm like that's the highway like nobody loves that
i we we moved out to the bay area my wife and i a couple months ago and so like it's one of those things where when you're in venice you're like oh it's kinda grimy here and like you know and then you leave and you like romanticize it so
yeah i loved it there i loved it there for farcon i ended up going back to for nounstown i stayed there even though it was like really far away for almost every event mhmm because i'm like i really like it in this area it's really nice
yeah it it's sort of like living next to an amusement park like everyone comes and loves it and then you're the one that has to like listen to the ride every day so
that's true yeah that's true before we jump into amps though that was one of the things i wanted to ask was like sort of your how did you end up on farcaster so you answered that but also can you talk a little bit about your web three sort of journey like how did you end up how did bright moments come about how did you end up in web three
sure when man when was it maybe 2017 my friend and i we're playing around with ethereum and we decided to start an ethereum mining company out of texas just because the the power was cheaper there and so we ran that company for a few years just as a a way to learn about ethereum to run a node do a little bit of mining before it switched to to proof of stake and shortly before the pandemic you know the the mining devices don't have that long of a life they sort of burn out because you just run them all the time and so it got shipped back to to where i was living in los angeles and i headed at home for about one day and it's so loud and my wife at the time she was like get this out of my girlfriend at the time my wife she's like get this thing out of the house every time you plug it in it sounds like a buzz saw is going so i i took it to a local like hardware hacking warehouse place and so i would go there to like tinker with it and work on it and i met seth who had just moved to the area and was you know talking to different people that were sort of in crypto and mentioning that he had this idea for an nft gallery and so i kind of felt like oh you know interesting guy but i meet a lot of like sort of crazy people in venice with like vague ambitions and actually the next day in fred wilson's newsletter he sent a newsletter about seth he was like hey you know one of my longtime friends is you know minting nfts on foundation and here's his project and i said okay this isn't a coincidence like i met this guy yesterday i've been following fred for years and you know he just mentioned it so like let me actually go reach out so i bought one of seth's nfts on foundation it was like a gan model of the sunset that you know photos he had been taken and we started talking and he said hey you know i'm about to get keys to this gallery on windward you should come and let's talk about it like what's happening and so i showed up the energy was just totally infectious and and sort of that group evolved and grew into bright moments we started putting on shows for artists on thursday nights and just caught a wave perfectly of you know people being really excited about nfts artists finding new ways to make money and that eventually sort of
catapulted perfect timing great timing
into this idea of doing this 10 city journey around the world and you know one of the you know nfts there was a lot of good and bad but one of the good things about that entire sort of wave was this idea that nft projects are projects you sort of didn't have to write a white paper and describe how you were gonna change the future it was like hey here's an idea we have let's sell nfts and go execute on the idea and so the the road map that we came up with was a three year journey around the world to create art with people from all these different places we finished that journey in 2024 and since then i've been working on some some cool new things amps is one of them but that was that's sort of the abridged version of a very sort of wild couple years yeah
amazing that was amazing yeah you went venice to venice so you ended in venice italy yeah that's right incredible
yep and then the summer i sort of it was sort of a little bit of a come down it was sort of like you know we finished this crate we've been sprinting as fast as we could for a couple years and so you know it took the summer to regroup and moved around for a little bit sort of like try to see if europe would feel good i am not wired for europe i just am way too like type a to like relax and do that and so i could see that yeah it was you know
no it's a rare it's a great it's a great description
great for vacation but after about a week and a half i was like losing my mind i was like no how does no no how does anyone get anything done here and the answer is well they don't really yeah yeah it's a great it's a great lifestyle but
yeah it's a great for great for retirement someday there you
but i love i love that i i really love nft art i love digital art i love art in general but i love digital art i think it makes it much more accessible for more people to collect yeah so and and just more like i most i'd say probably half of the nfts i have are are of some some form i have zero expectation of them ever going up in value i collected it because i liked it whatever it was you know all these different things i have a ton of timepieces for example like i have almost a full collection and i love all of them and i love the artists who did it and it was such a amazing moment in time and i i feel like that's kinda gotten lost and i'm it makes me a little sad that i kinda miss that that vibe so thank you for all you did in that in that moment to like bring forth some of some amazing artists who
thank really do i i agree with the sentiment i can't talk about it today but i can talk about it in three days there's a pretty exciting announcement coming up later this week and so all i will say is i think a lot of people have sort of given up on nfts as the you know way to represent digital art and i'm either crazy or right but we're not we haven't quite given up yet so we have a pretty exciting something to share on thursday so maybe we'll come back and talk about that separately
my first thought was why not both but yeah yeah crazy and right is always good too right exactly that's exciting that's exciting i'll be looking for that because that's just something that i feel like is missing right now that i enjoyed so i'm i'm down to collect more art and to do a much better job of displaying it and i know you did some things with view.art for for a bit there and i i've been very bad about getting my stuff set up but i need to do that
i'm enjoying it i i know know your background is virtual but it looks like you're in an office like it looks like that's where you live and i'm like girl you need some art
i need some art walls are i totally need some art yeah
on oh oh oh this is exciting
is a great piece this is called folio
this is by an artist named matt deloria and you can't the the video doesn't really do it justice the this collection was minted in london in july love of twenty twenty two matt is an amazing artist he's actually making a documentary about generative art and he just fundraised for it through an nft project called bit bit forms matt's like a generational talent if you don't know his stuff you should totally check it out his project meridian is on in the blocks playground project and it is whenever people are like you know what's digital art is it just monkey pictures i show them meridian because it's like this amazing amazing project that so many people are like oh wow you know it creates all sort of questions how do you create it with a computer you know what yeah how does it work and then there's another piece right here which is on the wall that i won't pull down which is called a 100 print and we actually this collection was selected through a draft pick so that was it was like you know oh cool strong goldy energy it was like you know you would we we put all a 100 pieces on the wall and you purchased a draft pick ticket numbered one through 100 and depending on what number you had you got to choose which one was left on the wall and so i think i was like number 19 and i have i was so nervous because like i knew the one that i wanted but like you know number nine went number 10 went number 11 went and i was like making side deals with people you know i spent some time with them and so that that was a really fun way to have people engage with
the collection i love that that's very cool i and i love some of the creativity that we saw like with with art with digital art like you know sam's farratt and monument game and totally and just different things that people's done over the years and and i love fidenza and i loved q q the q q one that he did also q q was really really fun and that's the stuff i talk about also in class when we get to nfts as i really dive into generative art and just kinda talking a little bit about that because i still think there's so much value there that i don't want to get lost along the way so
love to
oh very cool this is very exciting alright moving on we gotta move on to amps but i could talk about this stuff all day so amps launched not that long ago so how long was this in development
started working on the idea over christmas it was the holidays and sort of the original background for it was there was a lot of experiments at that time around like anoncast and supercast and like people basically using these accounts to get distribution for ideas that they had and i looked at it and thought like that's interesting like you know people are using these to get distribution because they don't have an account that has a lot of followers but they have a a message they wanna get out and so these pseudonymous accounts have a lot of followers and so people are using them and i thought well that's kind of a hacky way to do it like you wouldn't announce a project through pseudo cast or through anon cast or supercast but like what if there was a way to sort of get your message out to other people and that sort of led to the spark of this idea of well you know hey there's these building blocks the social graph is open you know the the warplet wasn't quite out at the time but like these sort of micro transactions had just become possible at base and sort of all peanut butter and jelly and we worked on it on and off jeff and i for probably about four weeks to get it to a point where we felt as though it was ready to launch and like the the core of the app was done in a in a couple of days but then the rest of it was the polish around it making sure that like the signer flow felt good making sure that it was something that people trusted and then we've been rolling out the ability to purchase engagement to like a very select group of people i think there's like a 150 or a 175 people who have the ability so we're we're sort of trying to learn as we go but that's the origin story
how do you become one of those people if you want to actually buy the recast or the likes
yeah you know every once in a while i'll put out like a public thread or you can just dm me dm my dms are sort of a mess because of the channel yeah so like if i don't respond it's not personal it's just i don't see them all and normally what i'll do is someone asks is i'll go and i'll look at your profile and like generally if your profile has some amount of original content on it that's not showing things i'll add you to the early access group like at this point you know i'm really looking for founders i'm looking for artists and creatives i'm looking for people who do marketing is really the the the core customer and you should have a budget to spend on getting your message out there and like maybe just backing up a little bit like the the yeah ideas let's talk about
what it is yeah
for those who aren't familiar so it's a two sided marketplace that allows users to buy and sell different types of engagement right so you can think about all these different actions you can take on farcaster you can reply to things you can like things you can recast things and all of those are valuable because it shares a message to your network to the people that follow you and what we've done with amps is we've allowed you to set a price on that and then set a number you know a certain set of people who can pay that price to get distribution through your network right so if you think about it like a two sided marketplace like uber there's demand and there's supply the demand are people who have a message and they're willing to pay to get it out and the supplier people who have a following and want to you know get paid for that distribution they've built in a way that's recurring and not and not zero sum and you know on the supply side a lot of people have tried to help creators earn but you know there's a couple problems one there's not there's it's it's pretty hard to make money off of following you have to like sell a product people who are really good at casting or tweeting like aren't necessarily business or product people don't they wanna sell like a package good they don't wanna like have a website they just wanna like do what they're doing and and earn from it and then the the other way to make money if you have a big following is to like launch a coin and like that works once and then no one ever buys anything from you ever again and so it's like okay what you know there's not really a great solution here and so basically as as someone with a a following doesn't have to be big it just has to be passionate you can register for amps and if somebody decides that they wanna get the message out to your followers they can pay you your fee you earn you know essentially passive income
yeah and it's been so the i didn't even realize i'd i clicked join the wait list and that was it and then i didn't realize like i was accepted or anything and all of a sudden i just started getting notifications of like you just earned $3 and i was like what what what is this yeah yeah and that's how i figured out what was go i'm like oh it launched mhmm and then i was like clicking what i appreciated this i think was a iteration if i remember correctly is that you could click on the notification you can see who what that cast was yes so that if there were something shady you could you know make some adjustments right pretty much have a minor probably warpcast admin anyway and it's fine
warpcaster admin yeah phil you just realized like i i one of the first things when you're when as a user like if you're paying for amps and you're choosing who you want to let's say recast for you you're kinda showing number of followers right it's like listen like here's my here's the price you get here's the number of followers i just totally realize when you're talking about kind of like these niche audiences and things like in the future just being like here if you wanna reach the audience that's active in you know like whatever cpg or books or travel or this then and like variable pricing or you can it's it's not necessarily just more followers which you know which are all bots anyway we know are good totally no that's really interesting
for sure there's always there's always three versions of of a product right and so i sort of have to remind myself okay so there's the there's like the sort of nebulous long term vision of the product that like you know what it could be you imagine it really big at scale it's beautiful everything works it's amazing that's like the far off version that's what it starts with and then there's the version of things that you've actually like sat down and designed and thought of and then there's what actually exists and so like what you're describing is something that's in that middle like we've sat down we've designed it we've thought of it but it hasn't been a priority to build yet but like we have a ton of ideas around how you can actually segment people who follow you who you you can recast you you can pay to have them recast mhmm by exactly those criteria hey anyone who's earned warpcast rewards that probably is a pretty good signal hey if their neynar score is above the certain amount hey if they're an active member or have a streak in this channel and then you know the amazing thing with a lot of the ai technology is you can actually be really nebulous you can say like people who i don't know post about dogs and like there's you know what mean like you can have a pretty good way
girth's ready how about how about people who are dogs yes
there you go
only dogs and so yeah it's gonna be i'm i'm really excited because there's people who have you know 10 or 15,000 really quality followers and we wanna find a way to elevate them in the rankings so you you know they get paid more the the message reaches the right people i think that's gonna be the key to unlocking more demand
yeah i think that makes a lot of sense because you could be somebody who is like the best caster in travel yes and you may have a very small following so but you might be the exact person that you that this person needs to promote whatever it is they're promoting so exactly yeah that makes a lot of sense it's i think it's a great product i think it's really working it seems to be really working well you know obviously there's like concerns like i immediately had that concern of like what if i recast something i don't wanna recast
and i liked that you kind of addressed that so maybe you can address sort of some of those things or even like what might be coming that isn't even in existence yeah
for sure so i see you know a big part of my job is is being a referee and we have to design the system but we also have to make sure that the balance doesn't tip in one direction more than the other so there's supply and demand on the demand side if someone buying engagement i i want you know i'm like whatever you know nineties republican i want no regulation i wanna do whatever i want like you know what i mean i i don't want any restrictions whatsoever but on the supply side i wanna approve everything i cast i wanna make as much money as possible from it you know i only i want to be limited to a certain audience so like our job is to balance those two because if you tip towards one side or the other the system doesn't work for anybody and so when we launched the product the first the first you know hypothesis that we had to test was will people actually sign up on the supply side are there actually you know a large enough number of people in the network that are highly connected that will give us the permission to take you know actions from their account and we answered that in a few days you know we had over 12,000 people sign up within the first seventy two hours and that was like a oh shit moment like i think this is gonna work and then on the demand side the question was will peep will people actually pay for this and i think we validated that hypothesis as well we just crossed $10,000 in volume that people have paid to users right and so that's real money that's not like speculative i'm not buying it because i think i'm gonna you know have some asset that's gonna go up in value like i've spent money to purchase a product which is distribution and so both of those things feel really good yeah exactly
thanks so you did make it past i wasn't sure that was my question today yeah that's great the email it
took it took just under a month to do it and so you know now it's this teeter totter so demand was going really well there's a bunch of people buying amps and then we started to realize hey as the scales what do we need to put in place so the supply of the network the people who have given access to their profiles we can't lose trust we need to make sure that people still feel really good about doing this so we put a few things in place one only people who you follow so people whose content you've chosen to see can buy engagement from you and that's a pretty good heuristic but it's not perfect i might follow people because they're funny and they're sort of abrasive but it doesn't necessarily mean i wanna share their content to my followers so it's it's not a perfect measure the second thing that we did was we put in place like basically a filter and we have some rules that we've given to an llm which is a moderation bot that says hey here's the types of content we're not gonna allow no bullying no financial scams no outright grifting like all of these things where it's like just you know
just don't you can say you
can say whatever you want on your profile but you have no right to get you know distributions right people and that works pretty well but then there's sometimes it's like it it it's like it doesn't you know it passes the filter but it's still not something you'd wanna post about right maybe it's like hey i love cigarettes and you're like a never smoker okay you can actually restrict certain people front even without following them without unfollowing them and say hey this person like i think they're funny but like i don't wanna see any of their content posted from my profile i'm just gonna add them to the restriction list and so i think those three things together have layered pretty well and it's not perfect there's still things that sneak through there's still things we know we need to fix before we open into the general public but i felt pretty good from the reaction that i've seen from people and the thing that we look for is like hey are people deregistering are people actually actively delisting their profiles and that's the key message that we look at to say is the balance tipping right price is another factor if people are raising their prices too high then it doesn't the network doesn't work it's not you know an efficient market
right yeah so that yeah i guess that would be good indicators for you how how are you seeing both of those indicators right now is it looking
i i think the thing that we still need you know my focus right now is on demand i wanna be able to have this product available to the general public i you know i don't generally like waitlist they feel sort of not egalitarian like people get confused and so i think you know i wanna make sure that we can continue to drive volume and make sure that people are buying engagement and that people are getting paid for it and we made a big step last week which was rolling out likes so now in addition to recast you can purchase likes and so they they serve two different purposes recasts are a form of distribution to an audience likes are a way to you know get engagement on a post you know make people look at it
trending things like that yeah
but but likes are also lower stakes because they don't boost it to your audience in the same way that a recast does and so they're cheaper we set a flat price for likes by default they're 50¢ and so you know my plan is we wanna make likes open to the general public right so those three restrictions will still apply you need to follow someone it needs to pass a filter you can restrict anyone you want but i think we've made likes broadly available while we still tinker with recast right so i think that's gonna be a priority to to get demand you know
to how do you sign up for that because i was trying to figure this out earlier i know i'm already doing recast but how do you get into the likes bin
is that something still manual right now
if you are on the you know early access beta program for the demand side you have access to the full app and so you can go in you can find a cast you can click the heart button and you can buy batches of likes we sell like five 10 25 and 50 or something like that okay and so that's been you know something we've been we've been working on and then just making it easier for people to see you know what they're recasting finding people like that like giving you like fine grain because people people buy engagement once but if they don't see a return on their investment they won't come back and so we have to continue to demonstrate value by saying hey this can help you reach the right audience we got a really nice testimonial from i actually don't know how to say his name out loud anti antimo yeah antimo right antimo antimo fm yes antimo fm yeah he he spent a couple $100 to amp us cast and then signed a client like a few thousand dollars and so like the return on his investment was like 10 times which is great yeah and that's the sort of success story that like hey this is working we wanna continue to enable these things and that felt really good
yeah that's definitely a good and then you also are seeing it on the other side with folks who are earning from it which is fantastic you know that's that's great so you've got both happening and that so it seems to be like this is a this is a strong mvp yeah in terms of like the the match there and how it's working and i think like for me what i've something else that i've noticed is so if i get a notification that something's been recasted and i've earned you know $3 for that recast i'm gonna click on it see what it is and then sometimes i take action on it
and that's happened to me a couple times where i'm like oh that's interesting let me go check this out so there's a cup you're not only reaching you know my followers but you might be reaching me specifically because i may not have seen because you know my my feed is my feed and sometimes it's overwhelming and i miss things and some and you also just marketing basics you have to hit somebody seven times with something before they'll take action so there you go like i may have seen the stupid egg chicken thing but i didn't click on it until the seventh time it was recasted by me but then guess what i did i went in and i bought some freaking eggs so there you go it worked and i think i've pretty much given back triple what i was paid from that particular person so there
worked it worked well and i hate to encourage that behavior but damn it worked well yeah
yeah we we have we have some features internally that are just you know i call them the borrow dutch or the goldy features where they're they're specifically features that i've had to build for certain people that's funny that's what we want at this phase like you know i like if everyone that we invited into the early access buying group was a boy scout or a girl scout we wouldn't learn anything and so i appreciate there are certain people who will find the line and they'll go sit right on the line yep and so our job as a referee is to say where's that line if i don't blame people for sitting on the line that's the way the system is set up we have the ability to move that line and so that's sort of what we're learning is like okay what's kosher what's not what is certain people have things that they're you know more open to than others and so it's been a really good learning experience
yeah i think that's you know that reminds me of was it chalomo not chalomo god the person who like break the cast all the time like it's shlomo yes shlomo who break the cast all the time it's the same kind of thing you need those people to push a little bit so that you can figure it out before you make it wide and like even bigger and you have more people breaking things
good yeah exactly i don't know about that but you need some chaotic do it
yes right
yeah it was like yeah it's like you yeah you're designing any product like you you you need to throw some chaos in your
for sure and it's been for chaos it's been funny too because i'll see things and i'm like oh my god like what i would never think in a million years to do that or like you know we'll watch people use a product and it's like where are you clicking what are you doing like i've never and so it's just there's a difference between that sort of nebulous thing that's in your mind and what actually gets built and so trying to iterate really quickly you know the frame standard has been pretty good to work with there's a little rough edges on the developer experience but the warpcast team has been incredibly responsive especially over the last few weeks having linda come on board has been just such an absolute and i've worked with kartik before and he's like he was our like secret weapon at opensea because we he used to work at opensea and like if you have that request and kartik would fix it instantly and so having him on the warpcast team is such a big level up in a bunch of ways that i'm just
that's that's sloke for another name that people might know okay yeah yeah mhmm so good so good he's there's just i think that's something that maybe people don't realize is how like it's the people that are here it's the people that are working on that team like it's there's like so much incredible energy that you can't you can move so much faster on things because of that because it's not just you doing it and you have these people backing you up you have these testers that are ready made 12,000 people signing up on day one like that's insane or week one it like you're not gonna find that elsewhere where you have this like ready made group of early early adopters who are just like yep i'm in let me test it out and i will give you you know constructive and solid feedback for what you're doing so it's really special to do
yeah so and i love i think this is like playing out really well watching you build you can see all that kinda coming to life
yeah it's been it's been really it's been really encouraging obviously anytime you have an idea you want to have it succeed you wanna have people do it and just like the fact that our incentives are aligned with helping our users make money is a really energizing thing to be optimizing for you can sort of like optimize for anything in life and i think that you know this is something where we immediately see the reward of people getting paid and and feeling really good about it what i will say is if if you're registered and you feel like you know you you aren't earning or you're wondering how some people are i know you shared meredith his profile so why why has he earned so much well he set his price to $1 and he has a lot of followers and so when people sort by price they see him right at the top same with same with oh that's art i'm the dude right yeah and so there's this and we can do a better job of making this visible but they're sort of like a you know if you charge less you'll make up for it in volume right yeah and so if you're charging 2 or $3 right now try dropping it to a dollar and see if it and see if it helps make up in volume and if you decide hey this is too low of barrier i'd rather charge more and i get paid a fraction of the amount of times when i do get paid it's a big payout that's a totally fine decision there's people that have done that i think jesse's price is a $100 i think maybe ted and johnny max is like you know 50 or 25 and so if they only get paid one out of every 25 times they've made the same amount of money right but that's a that's just a barrier where like if you're not earning lower your price to a dollar which is the minimum for a recast see what happens and then from there you can sort of you know
experiment from there yeah see if it gets too much if it gets too little i just left it at the default and i've been pleasantly surprised like i've probably i think i'm at like a $130 or something over however long which i was like wow
that's way more than i've ever earned on twitter
that's right and and you know as the network grows and as people realize the audience of farcaster is so valuable to get the message out to people with distribution will become an increasingly important part of this ecosystem there's not a way to pay for advertising content on the farcaster network and so if you wanna get your message out
to all the people kinda yeah
mean there kinda is you can become a sponsor of gm farcaster but yeah you're right
there is a direct nothing direct yeah but in the client feed and and you know just one more point on it because it's a little bit nuanced you know the coinbase team has mentioned that the the farcaster feed is coming to coinbase right it's gonna come into the wallet and whatever they're gonna call it and so there isn't just gonna be one client so even if like the clients are not really that incentivized to go after an advertising business model because you can't you know it's not as valuable to advertise
when it's decentralized right
or in yeah and so there's gonna need to be this sort of network first approach to distribution and advertising that is a really exciting really exciting space to be playing in
and i'm thinking about it also from our perspective like we really should start using it from i guess it's the supply side or demand side i'm not sure what do you call it the side of us buying of buying the amps yeah to to get more eyes on to get more eyes to newer users of the of farcaster on hey we're here this is a good place to learn about farcaster
know things like that so we have you know there's some things we'll have to think about like what who makes sense for that and that kind of thing but yeah we should be doing more of that
yeah you can you can pay for recasts which will obviously get the word out you can buy batches of likes which has the benefit of sending lots of people a notification and so those people see the notification they're gonna click on it and say oh what is this thing that i just liked that i just got paid for
let me
go check it out and so like i don't know what it should cost to give to send somebody a notification but right now it costs 50¢ and so if you think if you think that the return on that investment from getting a new viewer is potentially higher than than 50¢ then that is a place where it makes sense to to spend money
i do think that is the under appreciated part of this like i said i got this notification and got a couple times went in to look at what exactly was go what what exactly was i recasting and then eventually took some action there you
that it works
and if you know that the algorithmic feed uses things that you engage with to show you more of it it can make sense as a content creator to have people engaging with your content because then the feed shows them more of it
so right exactly so we need to we need to be doing that we need to get on the other side on the other side we've we can just
yeah
oh yeah i'm i'm like number 27 on the warpcast rewards board right now nice i've thought about this believe me for sure i've been watching i generally don't care where i am on that
neither when you're close to a a different tier
start to care then you start to care i've been circling around between like twenty five and thirty five for like the past couple days and i'm like how do we what do we do here so it's it's an interesting it's fun to play around with that too i think it gamifies it a little bit so there's there's things to be done there but even just taking back what i've earned on amps from recasting other people's i could just flip that right back around and put it into trying to amplify gm farcaster so
totally and the the game theory is like if you are going to earn whatever a $100 $50 from warpcast rewards it makes sense to spend you know up to 49 of it to put back into engagement because that's still positive ev for you and so you know i don't wanna say how many people that are on the top of the warpcast rewards are using amps or say that you know there's a ton of credit going to it but it is a it it's like a first stage rocket for your cast it gets you launched out into the algorithm and then it helps you pick up organic engagement and so it sort of you know instead of starting with zero lags zero recasts you can give yourself the best chance of having a casco trending which then puts it in front of more people and so if you think the message that you have is worth spreading then it can make sense
if you're currently below me on the warpcast rewards leaderboard though it will not work for you until that's right yeah until tomorrow around 11:05 mhmm i'm sorry it's you're yeah it's not gonna work i'm just just wanna let you know but after that i'm sure it'll work great but i do think there's there's a lot of interesting things happening in terms of the farcaster economy and like how you can you know this one thing can lead into this other thing can support this other thing and i think there's we're gonna see a lot more of that experimentation over the next year that's gonna get very interesting and then when you add like you said coinbase wallet into the mix like what does that do and i have no idea like that's a whole unknown that we don't know yet how that's gonna amplify things change things but i think it's really exciting it's a great time to be here so yeah
can can i just give one one more plug for a a related related product made by a friend of mine and definitely not my alter ego jake has been working on qr it's q r dot fun
are you sure it's not your alter ego we're positive about that
i've actually talked to them and i don't think they sounded like you unless you were using a voice changer anything's possible
who knows who knows it is another product that i think is doing something really interesting in terms of attention and distribution and i've just been paying close attention to it i know jake very well almost you know one would say personally and when they get their mind on something they work on it like crazy and so seeing them shift their attention towards qr and just sort of relentlessly make it their focus in the same way they did with base colors has been really cool to watch and so i'm really excited about that project i think we're on day like 14 of the auction or something of 19
not been paying close enough attention to this i will i it kinda comes in and out of my feed and i'm like i need to go take a look at this again but also i loved base colors and you can see that from my my my wallet i have an insane like many so i've loved that whole project and i liked i really liked the experiment of the zora versus clanker experiment too i thought that was really interesting but this is this is pretty cool so can you tell more about like what is qr
exactly what is you know jake would do a better job of this but essentially it is a token where the image of the token is a qr code that you can scan and every day there's an auction to change where the qr code points to and the auction proceeds historically gone towards buying token and taking it out of the supply and so it creates this really interesting flywheel where as the market cap grows the value of that image grows which means the auction proceeds grow as the auction proceeds grow more token gets taken out of the supply which removes token from distribution which increases you know the the market cap assuming that demand remains constant if you're taking supply out and so it's this really nice feedback loop that they've developed and the auction website is a cool riff on nouns there are some features that i i haven't seen on nouns there's almost like a typing indicator so you can see when people are making bids but the best part by far is just jake's commentary of like being out there in the trenches like tagging people hyping people up it's almost like watching like a sporting event because he's so into it when the auction is ending he'll tag people he'll do live commentary and it's worth bidding on it because during the time where you're the winning bid even if you don't close
you're still
your website is shown and then you get all your money back and so you can you can essentially buy like an ad slot for free you know through the feed and through the qr code the qr coin website
it's funny that you say you mentioned the nouns connection because there's people who have used the nouns auction in that way via the ens that they'll use nice to send a message like on the bid they'll and it it there was one point when when bidding was really active and it was really high somebody grabbed an ens that said something like stop bidding tony i forget who was bidding but i just remember that like dot e it was like stop it and then they kept changing it like each bid they kept because it kept going back and forth and
it's really funny so i love that that's i think that is a it really interesting it's another interesting approach for attention because that's all marketing is especially right now it's just can you get people's attention and can you hold it long enough to get your message across whatever that is
so yeah yeah it's really innovative it's really innovative it's one of the few coins that i've seen recently that i think is i don't know interesting for a bunch of reasons it doesn't feel like a short term thing it feels like the more that it grow it has a really nice compounding effect and flywheel which whenever i'm looking you know at a meme coin and determining its interest that's something i look for is it a flash in the pan and is it a game of hot potato or is there some flywheel that's going on that's gonna something interesting
yeah and sometimes the flash in the pan hot potato is fine like sometimes it has a moment and sometimes it it's only meant to have a moment but i do find the things that have something interesting behind them way more way more valuable to me personally even if they don't have as much monetary value but i'm more likely and example was today and i we didn't get a chance to talk about this earlier but lemon three if you go look at lemon three and what it's oh god no i've forgotten who's doing that one it's it's vrypan vrypan yes and very interesting different kind of approach of like he built something and then was encouraged to launch a meme coin like just like hey do this so that we can support you kinda thing i think that's another approach to this as well is like you know here's another way we can support a builder who's building something cool that maybe isn't quite ready yet and doesn't know how they're gonna sustain it but basically said i wanna keep building this i'm really excited this is new it's a source program that uses ipfs and farcast to allow decentralized file hosting and sharing and there was a lot of excitement about that and he said i could see myself working on this exclusively if i can if i can fund it so right that was and then he started getting these suggestions for a token and then the token launched like you know a few hours later so yeah this is an area to me is interesting
yeah i actually think nfts were a better fundraising mechanism for builders just because like their launch meme coins don't actually give the creator enough of the supply and one of the problems i've had with zora is like just as a taxable event it's horrible you're receiving rewards in the native token and so like if you're receiving rewards and the token crashes you might actually owe more money than you made which is just a horrible thing in the us and nfts are actually a really nice way because like you earn primary revenue and so i don't know if you saw this
and that's what that's what steph stephancill said right here he said i kinda missed the nft days at least you'd have a collectible to show for it afterwards and the ill illiquidity makes the value a bit more subjective yeah and i think that's hypersub too you can still do that via hypersub where you're getting an nft you're supporting whatever the project is the creator etcetera and then you can continue the creator or the builder can continue to add different benefits to that nft for that exchange so there's i think we have a lot of different mechanisms i think some of the older ones too like i kinda miss for various reasons but i still think there's you know different ways to experiment with all this and it's and it's cool that we're finding and i appreciate that you're experimenting with different ways to benefit creators and content that's good and and people that who are adding value to the network too which i think that's what amps is doing
always does
it always does anything else that you wanted to highlight before we start to wrap
no no thank you to everyone who's registered i know it was taking a risk and giving over a signer key is something that we don't lately so we definitely are doing our best to be good stewards your network and distribution is the most valuable thing you have on on farcaster and so we do not take the responsibility lightly so thanks for everyone who signed up
and i will say that because it was you it made it a little easier to take that risk but and i think that's something because something to be said for that go ahead because why because because farcaster requires proof of work
three yes trust is the true web three currency it is it always is you have to build the trust that's what you're gonna benefit on that is the true currency of web three adrienne do you wanna hit phil with any lightning round questions real quick before we wrap
she does
here we go
gonna do my best just to shut up because i have a habit of turning every question into a conversation because everybody's
swiping around and then twenty minutes later
everyone's like so interesting okay what my first question is the same question we ask everyone which is we wanna know when and how you made your first internet friend
xbox live i used to play a game i used to do forge mode on halo three and there was these custom apps you would make and i joined an online community called xforgery and i became a moderator there and wow it was sort of like the things where like nobody knows when you're a dog on the internet and i was like definitely way too young to be in any sort of position of that and because i i was a username no one knew and so that was my first like online community that i was really spending a lot of time
on amazing
the books channel that was easier
i really like what's the one at the end of summer is that memorial day or is that labor day
labor day is september yeah ending so
in in los angeles people assume it's warm like miami all the time and it's really not but la does have the benefit of being warm later in the season much better than other places and so i like labor day because of the contrast because when it's getting cold everywhere else in los angeles it's it's the hottest it's gonna be all year and so that's the best holiday because it's always a beach day everywhere else it's sort of like cold and miserable and so there's just a lot of like i look around and i'm like wow this is an amazing place to be and that's that was for the last eight years so first labor day in the bay area we'll see if it holds up
i always love the labor day labor day up north too because it was like the end of summer was a little sad but it was last it was like the last hurrah
you know i i prefer mountains for a bunch of reasons but i feel just quieter there beaches are hard i love the ocean i love the sea and sailing and but yeah mountains are special
i need a i need like a tropical vacation have been i know i've i've been watching white lotus and so like southeast asia feels like you know yeah it feels i'm feeling the pull
there's a lot of people that's like they're having a huge influx of people booking vacations
isn't that funny yeah
man i prefer concerts i think that there's something special about seeing music performed live that you know really really well now a sporting event is always you never know what's gonna happen but in a concert there's like that feeling when your favorite song comes on and you yell every word or it's like you know an amazing beat and there's something about being able to i don't know predict and prepare for it that makes the moment that much better yeah nice
good question it would be like a weird genre mixing thing sort of like a zen and the art of motorcycle maintenance where it would be like a travelogue mixed with a diary combined and interweaved with like some sort of philosophical observations
i would read would read i would read yeah would read would read
one of my best friends is is getting married this year and we're doing his bachelor party to go to a liverpool game and so i'll say soccer that's gonna be a blast
of answering the question
scoop it and i
because you're not a psycho because yeah it's hard
by the way you came on in the beginning completely trashed all of europe as a place that no suitable founder or person can live
and then
that's so funny
it was probably within the last couple days i mean definitely engagement right because i i i used amps this morning and so i mean self plug a little bit of a cop out maybe maybe one maybe give one more plug william watkins is an amazing generative artist and had a collection on highlight a few days ago of 50 pieces that are code based and it's an absolutely amazing collection and so if you have some money burning a hole in your wallet and you wanna go buy an amazing piece of artwork go check it out on highlight really good like the the first collection i've seen in a while where i was like wow this is special
i gotta go spend some time on highlight and just look and see what's new because i haven't done that
cool let's just random thought that was the last question phil you're awesome thanks i know we're gonna wrap up soon i just had a random thought and it's completely unformed so it might be really dumb but when you guys were talking about how much you love nfts and art and kind of you know it's and i'm also of the belief that like certain fundamentals if if there's value in use like they're gonna be there in the long term and i and i think digital ownership like something representing a unique piece of digital something is like there's a use for that in the world so i'm of that belief but going back to what you're talking about tokens and but but then meta changes right so like where everyone's attention is but
half dumbass thought we were talking about highlights yeah that's helpful and generous
are right but does the i i i think i've lost my i think i've lost my dumb thought but it was something about like will nfts come back as a without all of the speculation because we have now other mechanisms like so as a founder like it's like it's super easy one of the reasons like nfts took off right is because you had platforms like opensees zora where it's like anyone could do it like you didn't have to write your own contract it was just here it's super easy and that was the vehicle and there was just so much speculation there now you've got the vehicle for creating tokens is so easy thank you clanker and yes and and all the others right so now that it's all out there right this is as the tide goes in what's left does it in the future make it like now you've got both like different options as a creator founder or whatever will there be less speculation in the future of nfts
yeah let me let me maybe give you my like thesis for the bull case for nfts just to put it out there so as an asset class why did nfts start with artwork well the you know i sort i sort of i submit that the reason is because artwork is sort of the the only thing that didn't require any sort of tangible tether to the off chain economy and so it was natural that it started there first because if it's gonna be some abstract representation of value it didn't need to have like it didn't need to tie to a company it didn't need to tie to a product it didn't need to tie to some like off chain commodity and i actually think nfts are like a superset of fungible tokens because with nfts you can create as many as you want you can create a trillion a billion but the fact that it has an extra property means that actually you can sort of put fungible tokens within the category of nfts and right now we think about them as these two separate things but i actually think they're they're pretty similar and so like on the extremes i actually think they come together and i think we're gonna stop making this distinction between non fungible and fungible and i think it'll be a gradient where it's like how much does the nonfungibility matter all the way on one end there's unique artwork one of ones hey this is literally there's nothing else like this token and then on the other end there might be extremely fungible nonfungible tokens where they're essentially the same and people trade them as though they are fungible but you can actually double click and dig in and there may be small differences you can think about dollar bills this way we treat dollar bills as fungible i can give you a dollar you give me a dollar back doesn't matter to me there's a serial code printed on every dollar bill and so nonfungible tokens can be made fungible large enough sizes but you can't go the other way you can't make a fungible token into a nonfungible token because right
like a purple token like it's same as like there's no my purple is no different than your purple is no different than prof's purple but they are
sort of sort of but but but there is a different token id and so like maybe maybe the better here
yeah maybe the benefits are the the benefits are the same at the moment yeah
right right or like or like think about ether right like if i if i send ether to your account and then you send me eth back it's not like a bitcoin where there's a way of saying like oh this specific satoshi is yours and it's mine it's like ether it has an account balance and so you know i i think i think that the value in nfts is these strong bonds that it creates between the holders in a way that you know with fungible tokens you haven't seen the same individual communities form you sort of seen these large conglomerate like hive mind things create but within nfts you sort of get this unique identity and i just think it's such a primal human instinct that like this spectrum is gonna disappear all this tech talk that we do about erc 20 erc seven twenty one is gonna get shoved way down in the stack and only nerds will care about it and the consumer will basically say like well how much does fungibility matter to me and most of the time things that are nonfungible can be represented as fungible but when you double click you can actually make that that distinction and so that's where i think it's going i think it's gonna take us a while to get there and we're sort of stuck in this like skeuomorphic we only have what we know and so we copy it and we use words like you know the floppy disk is the save button the fact that
you put
files in folders on your computer it's like we're just not good at coming up with new concepts and so it might take a long time to get there but i'm super excited about nfts as a format and i think that they will succeed when we stop calling them that that will be the moment where victory achieved no one uses the word nft before and so i'm i'm i'm looking forward to that moment
i think that this so a lot of what you're saying reminded me of why luca nats pudgy penguins were launching pengu it was like we're still gonna have this core we're still gonna have the nft that's an identifier that's a community etcetera but how do we expand the community when most people can't afford a you know 10,000 to whatever thousand dollar token this is how you do it this is how you give them a little slice of the larger community is by having the fungible token absolutely that still you know still connects to the non fungible and it might be something down the line that you know they aspire to or something like that so there's like yes i can see how these all work together and then on the back of that you also have games that are gonna use this token you're gonna have products and things and tangible things and and you know penguins and stuff like that so i'm like the penguins are over here somewhere so it's yeah like all those all those things like tie together when they're done well and then it's just a matter of like waiting for the done well part to actually play out and it's in progress so
it it's a spectrum it's a spectrum not dead declaring them not dead not dead at all looking forward to the you know sort of hegelian synthesis that comes from taking these two things and combining them together so i think it'll happen on farcaster first you know
i think so too and i think there's also something to collectibles and art in general that people want to have hold not only for speculative value that oh this might be worth more someday but also like for the appreciation of those things so there are people who collect baseball cards and they like doing that is some of that related to i hope this goes up in value sure but you know 99.9% of the time those things aren't gonna go up in value same thing with pokemon cards you're gonna play with them but you're also gonna have your special ones that you're gonna put in a little thing and admire and keep and hold and do and it's the same thing with digital so we still you know for me it's more digital than physical and if you think about you know where we're going that's it just makes sense it just makes sense that that's gonna be a thing like i want a punk i cannot afford a punk someday if i can afford a punk i will have a punk not because i want it to go up in value but because i want it in my wallet in a man that i didn't see it in 2017 i don't know why i want it i just do
because it was first i think and i appreciate the art and i appreciate the lore of it all and there's so many reasons and when i go to miami and i see that wall i'm like i know those people and those punks that are owned and who they are and what they represent and that to me there's something to that that means something to me it may not be the same for everybody but for me that's a thing and i know there's other many other people who are in that same boat and earlier before that it was nouns but i've already got my nouns so now i've moved on now i wanna get now i want punks
onto the next objective desire adrienne how do you how do you feel about punks what's your what's your feeling around them do you have like an emotional state when they get brought up
no we are different people
we are different people i also feel like i missed the moment because i found cryptokitties and never found punks and then it was too late so there
yeah i know it's something different i and i don't
i get emotional about things but like certain some things i'll get emotional about but not
but a punks don't do for you i'm just i just wanna i wanna dig a little bit is is it because of the aesthetic or is there like some other aspect to it that
it's a good question
it's for you
i'm i'm always curious about what makes some people want to own certain collections or not or like why it's not interesting and so maybe it's hard to say why something's not interesting but
oh i think it's just there's no i wasn't i probably wasn't around or aware when it launched so i have no like attachment to a like a point in time of a certain that had a certain meaning like yep and
that's interesting yeah and whereas like i well
there's punks the people who have punks i like them they're cool like but just i didn't invest anything into what's behind the project like what why do i need one why do i want one i
i'm i'm busy like like there's a million other things i'm looking at every day just punks is not i
think it's the same thing with like anything with cars bags handbags like i have zero desire to buy to spend any significant money on a handbag none there are people who live their whole life for that birkin
yeah sign me up like i know i'm not i that's everyone's got their thing but also a fidenza i want a fidenza like that's like on my list you know of like
are luxury items it's a luxury item
right so those those two networks of people are they overlap a lot the and punk so it makes sense to me that you sort of have an interest in both of those things because i think it's a high like i think about the people that are behind it who's what what's the network that you're joining by buying this token and if that network is a network that you identify with then you want to purchase that token do you have any interest in like fractionalized ownership does that do anything for you
no i've thought about it and i've had moments in time where i've like i owned a fractionalized noun for a while and it has its complications and it doesn't feel the same like for me with a punk or a fidenza or something like that it would be something that i would want if i could own it myself i don't necessarily want it so bad that i wanna do fractionalized ownership if that makes sense and i don't know why that is it just is just like i don't know i don't wanna own flat fractionalized art you know there are people who do but again i feel like that the those who do wanna own a fractionalized version of something most of the time it is for speculative reasons right like they wanna do it as an investment and for me it's not necessarily an investment per se it's because i wanna own that thing just want the art i wanna own the thing yeah yeah not necessarily because i think it's gonna go up in value and i wanna eventually sell the thing so it's a little different but i think for fractionalized ownership i think that's mostly where people's heads are at when they're doing that so it gets it gets tricky but yeah it's a it is a good question though because i think there are i think there is a market for that but i think it is more the speculative market
for that
at a yeah like and then how and then what you pay for something like how do you value something right so there's certain you know then there there's some scale of utility to status and yeah one person's status is someone else's like not like it's yeah it's very personal as well yeah
although i do appreciate things like flamingodao and that kind of approach which i thought was you know a really interesting way to purchase significant works of art but there was some also some speculation in there as well
yeah so it's like you're involved with an organization that owns the artwork and so you sort of by proxy you know get to be a part of it
by the way i now own one of the flamingo's nouns that was owned by flamingo dow cool that they sold yeah so got a
i know we've got a wrap i can tell you from farcon this is a problem
i i will be i will be at farcon i will see you there maybe we can do an in person session or i can stop by the booth and say hi to y'all yep yes we'll probably we'll have a
little podcast space so we'd love to have you on
sneak sneak preview we are strongly considering hosting a bright moments after party for farcon so stay tuned i will let you know if that pans out but we're working on it cool
is the bright is the bright moments gallery still there in new york or is it
we're actually supporting we're supporting a new gallery that just opened there who's using some of our screens called tender it's run by an amazing guy named adam and a dear friend of mine named pablo and so i can post some information but if you're in new york definitely go check out tender gallery i'd love to yeah we're we're sort of loaning them some technology and software and stuff
like that so amazing alright
that we can't wait for farcon too so we'll see you there and thank you everybody this has been a blast and
anything miss else what did
go so my there was a higher airdrop was now before while we were on it was like an hour ago someone dropped it someone had broken the one of our chatters
i was like did anybody say anything in the chat i wasn't i wasn't paying attention to
the i'm not sure who it went to but you'll get a note check your notifications and you get a higher airdrop for but in order to claim you have to you have to cast something into the higher channel
oh this is exciting
check that out alright we are so check that yes and reminder of we are making good good millionaires
yes we're gonna make some good millionaires this week yeah
and eth is above above 2,000 so it's been a good show another reason saying yeah me like checking my notifications to see if i got a higher ad
isn't that hilarious we've lost
by the way my mother has i've gotten many note yesterday i had another notification from my mother that oh yours is up i noticed thanks thanks mom thanks mom for your for your market report oh salvino sponsored the higher airdrop interesting okay cool alright everybody that is it for us we will be back wednesday at 11:30am and we'll have dylan abruso from abbascato i don't know how to say his last name dylan from cryptyly the game guy cryptyly the game guy will be stopping by and we're gonna break down the game the gameplay and convince him and and get him confirmed on camera that he's gonna play cast out by the way i just caught up on survivor 48 and i'm obsessed so anyway burtwurst go see if you got an airdrop we love you too and that is it everyone so we will see you wednesday and with that everybody bye bye