we're going gm adrianne we're back
yo we really are happy monday sorry we're so late everyone sorry guys we have people waiting in the waiting room for us how how
nice is that hi jim all right we we've got a lot to talk about and we're running a little behind so we're going to get right to it and we will be back in forty seconds after this little intro
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 nanesh pracht and adrianne for another episode of gm farcaster
gm farcaster it is monday april 21 and you are here with downers prophet and adrian for twenty nine minutes of farcast news to start your day and adrienne you look so relaxed it's kind of crazy it's the filter
it's the filter and the strawberries in the background and the the i just got back from holiday vibes
i feel like i've been on vacation for months i kinda been a week it's it's yes let's hear it for vacations
yeah girl
we took we took a week off
yeah
and it feels like everyone's so cranky
so cranky so cranky
and our chat's hilarious very chatty today already because i think people wanna laugh today
yeah i think so too
we need a we need a light show
for sure we're gonna do our best we do have a question strawberries okay what did i miss so
it's a content coin brad my background
it's a coin
it's a coin
pieces pieces for crankiness yes i should actually go change my background we're gonna get to the coining of the things but can you actually explain what were these strawberries and why did you coin them
okay just yes i was in london last week on a family vacation with two teenagers we did all the touristy stuffs had a blast i casted a lot about my vacation i still barely broke the top 100 so people don't like people say they like vacation content they don't travel content they don't not very engagement not really anyway so what i casted about is because when you're traveling with teenagers you have to hit all the tiktok famous spots so yeah i just think it's hilarious so my teens are on like whatever tiktok food thing yeah
i've never even i didn't know this was a thing until you posted it but this is like some kind of famous strawberries
yeah so borough market borough market's like a a market in london it's there's it's the site there's been an active like actual market there since like 1,200 13 hundred maybe like the nineteenth century twelfth century
long time anyway it's now turned into like a food hall so you know it's like you used to go get your groceries or you know your fruits and vegetables now it's like you it's food hall so it's like all the different stands it was the most crowded place i've ever been hated it i do not like crowds but everyone has to go and and kind of eat all this food so one of these are these strawberries that are dipped in chocolate chocolate covered strawberries they're gorgeous look at them
beautiful and they're fame and they're tiktok famous
and it's just like you can't even imagine how many people are like shuffling into a line they like shuttle you through this line like cattle it it's like so fast and yeah they're not oh they're not they're not
strawberries
but they they they
probably lost as much yeah yeah i was gonna say that they're probably at that level so there you go so there you go it is it the tiktok famous and now and i coined it and now they are available on on zora
we're gonna talk about zora i'm sure i saw yes
we are
i got a notification that nana shpraf bought some of this tiktok famous strawberries and i was like why you're the
only one
why would you do that you're not because what
because i because i felt like it
you're the only normal person
i bought very few things in the current meta but that was one just because there was you know i knew it wasn't gonna go up i figured it would be a lovely stable coin
to invest
in yeah to be clear i didn't make these tiktoks i'm not tiktok famous these are the tiktoks
we are definitely not tiktok famous we're barely farcaster famous okay let's jump in i'm starting with this hope everyone had a happy easter for those who celebrate i just really liked these eggs with various crypto logos on them i thought that was pretty cute crypto one moon so yes i was off celebrating easter yesterday went to sunrise mass and then just saw this morning that the pope has passed away so saying some some prayers was my favorite pope do with that what you will if you can have a favorite pope i did there we go moving on before we jump into all the things i want to make sure folks are aware that if you are one of our hyper sub holders we have two events coming up at farcon you can also request to come but we're gonna give first priority to our our hyper sub holders and we just refreshed it so we have one hyper sub now rather than two so consolidated everything if you are already active in one of our hyper subs you should have received a new token and there are two events to go look for one is our breakfast meetup on friday right before the far con summit we have early access 8am we're gonna have breakfast we're gonna have swag bags we only have spots for 20 folks this one is super limited i haven't even checked the waitlist yet i have to go check it and move some people over and then we have harryoke happy hour on that's gonna be the first event that is on wednesday 5pm we still have some spots available there is a waitlist right now i think those who are still on the waitlist were not hyper sub holders so i got to go through and look again just kind of waiting to make sure we get all of them in first so we're excited to see everybody at far con next week next week adrienne
i yes next week
yep i stressed stressed all right to get us started since since adrienne's been very much on vacation and i've been here but also i don't know just trying to do my own thing but not being very successful at it twenty nine seconds of farcaster from brad q what did you miss this weekend afro chicks gave us a killer cast reminding us that bringing the world on chain means bringing the world on chain and how westerners need to understand empathize with others especially africa perception of coming on fc really interesting we'll show that cast in just a little bit tayab announced octant's biggest fc retro funding round yet at up to 15 eth and wednesday we're gonna have vp of abundance james on to chat about all things ogden including this funding round as well as d gens and dragons and if you aren't aware make sure you check out d gens and dragons fun little card game that's all sort of tying into everything they're doing and we've been sponsoring some mints so if you catch it at the right time right after we share it you can get it free free instead of for the very tiny amount you can get it for free free free i'm i'm really like stopping at every every section of this brad sorry v shared that fc sign ups are headed to basically free more free snap chain right
yep how many definitions of free do we need lots of free but none of them are free none of
them are free except for the free things except for the
free free things
they're free free things the free free things actually the tips for cast discussion evolved and heated up with notable fcers discussing a need for a cast response that tips point $2.05 cents in other words we want warps tipping but for other things dwr.e teased a new feature for the sidebar brackey brought renewed interest to the nba playoffs in a new format this week in mini apps hosted by linda and horse facts gave us great rundown by phil of the qr mini app by jake which shows the convergence of many fc building blocks and then of course join us right now i did watch the mini apps i got there a little late but that was very cool to see and i was excited to hear phil once again claim to not be jake it was every time he does it i get more and more suspicious but whatever so you can keep saying it phil i'm not sure i believe it also wanted to grab this this was from since gm this is also from brad from since gm firecaster wasn't live this week to keep us up to date here are some notes for the week best story of the week kent moody interviewing rosalie's rainbow and shane mack stepping up to change a little girl's life check that out new video explaining fc mini apps from linda which is fantastic there were some events surrounding chex nose content yeah we're gonna catch up on that in just a little bit cast directly to twitter shared by woj and fc has a blog to capture ongoing announcements in one place so that is new so lots of new cool things have been happening and we're gonna dive into a few of them introducing trending topics did you see this
interesting introducing trending topics algorithmic collections of casts about topics people are talking about they update a few times a day mobile only to start update to the latest version of warcast from your app store and restart your app one to two times topics will appear on the search tab and in your feed while you're scrolling we're running this as an experiment in warpedcast for the next couple months so these are not channels that are trending they're actually topics so that's pulling from i assume within you know what people are chatting about so they are collections casts about popular topics defined by an ai powered algorithm channels have no bearing on trending topics our topics on the protocol the casts themselves are on the protocol but the categorization of beads are generated by warpcast these are developer tools like md mbd that can provide this for your app so this has been cool to see i think it's a good little experiment i will tell you that this is one of my go tos on twitter is to go there and look at what's trending to get an idea of is there anything that i need to dive into so what do you think not helpful
yeah i just think it's another step on the way towards kinda maturing webcast feed and discovery of what people are talking about long ago right like this goes back to the whole hashtag like there's no hashtag meta
yeah
and hashtags are really just a way of like human categorizing what we're talking about dan famously hates hashtags because they're prone to injection and yeah cringe and and all the things and ultimately if we're old enough to remember small social networks like you used to be able to scroll and see everything when a social network gets so big like you're never gonna see all the content so then this is like the machine learning way of identifying what's trending so very cool i did see it in my feed he claims they update three times a day but if you don't change what we're talking about they don't they don't
like oh we're still talking about the same three things we're still talking about that i know i was just gonna go look and see what's trending right now yeah
so i didn't find it
that's a bit of an issue if we're not actually changing what we're talking about
you know and the problem with work not the problem but the like it's whereas when you're starting a new social network from scratch you're so like how many you're twenty years behind twitter yeah so you're constantly gonna be playing catch up so like are the trending topics as good as where i've seen other places no but it'll get there like it's cool we gotta get there yeah i mean it's the first step so i think it's cool
yeah it is a first step i i have been a big fan of the trending feed for a long time we've had this discussion with dan before even that this is something that i have been advocating for like because there was a moment when they were going to take away the trending feed and i was like no no no no no please don't do that because i do find it very useful for finding things that i may have missed on my own algorithm on my own home feed and also to see what people are actually talking about it's not foolproof either because it's still you know it's obviously going to get captured by either what larger accounts are talking about or what they're interacting with it can be something that can happen but also i have found brand new people on there so it can go either way
i love the trending feed because like i yeah sometimes i find my the algo feed a little boring yeah or i go to following and it's just a way like i look at it as like how do i find bangers
right exactly
like cast and other people are exactly thing
yeah and also just to to see what are people vibing with because when you see things really trending like in a very organic way that can make a big difference yeah all right moving on we had this from gabriel oueso the web developer tools just got a fresh coat of paint the tools are focused on validating previewing and publishing your many apps we removed building the json builder since starter projects and other tools can help with that more to come we also removed local host support because it didn't work well and it was a source of frustration for devs we recommend using a tunnel instead i assume that you understand what he's talking about then there was oh this is over here i think i think i've already got this over here one more thing we now divide provide you with analytics for your mini apps on the web developer tools we call them charts starting with unique users opens transactions unique users with a transaction so that's cool always good to see more analytics and data always super helpful there's a lot happening with the mini apps as well and i wanted to point this out mini app builders this is from aniri i often get asked how to make sure your your mini app works well in coinbase wallet one of the biggest issues many apps that use warp cast deep links many even buttons that say share to warp cast where users are dropped into a dead end logged out warp cast screen in the browser to ensure full compatibility across clients switch from warp cast intent urls to using composecast from the farcaster mini apps sdk so just a few different things that have been happening in terms of mini apps a lot of people are building like crazy i've been wanting to try to create something with the ohani ai and haven't had didn't get a chance to do that but i haven't even had a chance to tell you this they're gonna they're gonna pop on next week to chat with us about about the ohani ai frame mini app builder i keep wanting to say frame so that's going to be fun and really cool to see all this development going and it's you know perfectly timed for when coinbase wallet starts to integrate barcaster so cool to see so going back to this what yeah
what anari's cast is too interesting by the way
yeah for sure
because you don't think like just in her example of like you're using warp like if you you the protocol and warpcast forecaster and warpcast more or less are the same like we've had other clients you're using mhmm so with the coinbase wallet kind of i think it'll be a a large client all of a sudden when you're an app developer are you building on top of warpcast right then you can right go ahead add all your warpcast links but if you're building on top of a protocol how do you make it so that other clients can use your app so it's not really built on warpcast it's farcaster and we've not seen it like you haven't we haven't really needed to see it for the first time so i think this is gonna be super interesting to play out yeah
for
sure that mean like how do you there is no like widespread standardized protocol for like how do i get this cast that's on a protocol like there's no url that you can get that's protocol
right so it's gonna be yeah it's really interesting to see all this kind of coming together and thinking about it from a how do you optimize for multiple clients rather than just for one client so yeah let's it's cool to see all these things coming together and seeing everyone playing with so many apps right now and there's so many cool things that are popping up i don't know if you saw this i was i think i had this for a little bit later but let me see if i can grab it really quick this was very cool i think there were some issues this is from mike m y k there was some i had some issues and couldn't quite get it working but in terms of like the idea of it i think is really cool this is from mike this weekend i created flock inn an on chain cameo mini app on farcaster for creators complete requests for videos earn on chain for users get personalized videos from people on farcaster leave reviews for others built with on chain kit so they do have this on chain mini kit mini app kit now for building mini apps that will work also in coinbase wallet so check that out and soe has been working with folks to do workshops and things like that but this was really cool to see i couldn't quite get it working i gotta circle back to it and see if i can but i thought like really good concept of you know you want adrienne to say happy birthday i don't know like why you'd want somebody on here but you might so it's kind of cool like okay this could be interesting
that's really cool yeah
yeah could be interesting moving on improved sharing to this is from dan improved sharing to x and other apps with much improved image and this is from moj and blockheim blockheim has been like working overtime for design man like they got our work in overtime right now the funniest was i don't think i pulled the comment she made a comment about the slides that linda and mark sacks were using it was like she had thoughts did not care for them but this is very cool to see new on warped cache share a cast straight to x and other apps not much to say here please share your favorite posts with your friends links and dms images to x and ig live on mobile and web please tag me if you see any bugs so this is the just an example here of being able to share it as an image a little cleaner for x for twitter and what it what because i don't know if anyone remembers when you would share it as an image there would be a lot of white space and it really just didn't look clean so this is a great improvement so there you go easier sharing lots of fun snapchain is now live this is from v warpedcast and naynar are reading and writing from snapchain this is the replacement to hubs to make things a lot faster and scalable casting across apps is now faster more reliable and more likely to scale as farcaster grows i've recorded a new beginner friendly video series to explain how this works that's from me not me i should have said be recorded so go check that out if you want to learn more about snapchaine especially if you're running if you were running a hub or are now running snapchain like make sure you're aware of what this is all about or if you're building anything on farcaster really important to check this out also from vee warpedcast wallet makes gas problems go away if you need eth on base but only have usdc the wallet will prompt you to swap it as part of your transaction users don't have to think about gas it just works so this is very cool this is from hyros three daniel new feature gasless mini app interactions where blitt now enables mini app transactions even without sufficient eth so that's very cool if you're in a mini app and are being prompted to do something it will help you do that without a lot of swapping and craziness so very cool this is a new fip storage redenomination the goal is to get to effectively free sign ups by reducing fees to 5 c over time at this price apps will be able to sponsor users who pass civil checks so that is very cool so this is i have not read this do have you had time to look at this at all the stuff i've paid i haven't i haven't either so i don't know too much about it but it looks like it's just a different way to deal with storage is my understanding
and everything is in a goal to make this eventually free and storage free but i don't know what that means exactly is that mean that
will it still keep everything is there gonna be any limitations
it may just be i guess we should read it instead of just guessing
we should probably just read
but what they've done before is they've reduced the amount of storage you get by default and thus reduce how much it costs to get your first account and i think the idea is like how do you make that first sign up so cheap that apps can sponsor users to like you're not get like dead on arrival if you're like hey here's a new social app pay 5¢ take out your credit card
right
like why why why are you asking
me to pay i have
to pay $5 no
right exactly
so it it's possible they're just kind of shrinking what your default is and then instead of maybe getting one storage it'll be enough you need more who knows i'm completely making this up i i
know yeah
i sound like chat gpt except
except not not as confident like
i don't know i was i casted his s yeah with my chat gpt yesterday and it was completely hallucinating something like completely it it built this whole farcaster sense minimum censorship protocol for farcaster
i forgot to pull it yes
that was hilarious and i'm like what the f are you talking about you're just making stuff up completely making things up but so confident so i i i don't know
so we're gonna start doing that we're gonna completely make things up but sound confident about it
speaking of things we don't have to make up park on next week this is from emma side events keep on rolling morning run with carlos and web three runners mini app spotlight with seed club builders happy hour with genec and bolt capital reminder that tomorrow is the last day to sign up for the far con open so if you want to play whatever that's called again oops it's probably closed already so check out everything on farcon.nyc for all the info about what's happening with side events as well as the summit and as we mentioned we have a breakfast the morning of the summit and a happy hour on wednesday so we hope to see everybody really excited and we have emma on friday so friday we'll be chatting with emma we'll be going over all the far con things so if you're coming to far con you're going to want to listen in and even if you're not just to know what's happening this for phil from phil amps for all starting tomorrow which was a week ago anyone can buy recast from their followers via amps fun if you're already registered there's nothing more you need to do to be eligible to earn some users like tldr have already earned hundreds of dollars by simply registering their profile and setting their recast price i don't know why he got called out now but that was kind of funny if you are not registered you can do so by visiting the mini app this will give people you follow the ability to buy likes and recasts from you for a fee our priority with this rollout is to expand the number of buyers and help our registered signers earn more however with more buyers comes bad actors we have implemented several anti spam measures to maintain quality we'll be actively monitoring this week to make sure posts meet our quality standards and reacting quickly if we see something we don't like and then you can check out that at amps.fun i did make some adjustments i was trying to play around with the pricing just to see like i don't know just to experiment so i did reduce mine just to see if it increased any usage or anything like that just for the heck of it seems about the same which is interesting but maybe a couple newbies so but interesting it's an interesting experiment phil's been making the rounds so it's been cool to learn more and we did do a replay of his interview with us so you can catch just that under the live area on youtube if you want to swing by this from colin this was an incident that happened while you were gone i don't know if you even knew what happened so there was a hack of ponder so the ponder wallets so update on the incident we've identified critical vulnerability with the withdrawal api while there was while there was an exploit that allowed unauthorized withdrawals to bypass our security checks we've frozen withdrawing funds on smart wallets until this is fully resolved most importantly all smart contracts admin wallets and user smart wallets remain fully secure and uncompromised the root cause was an authentication spoofing technique in our api roots due to architectural constraints within our auth system we've learned a lot from this exploit and are implementing more robust security measures to prevent a situation like this from ever happening again all affected users have been refunded it says we'll be refunded this week but it has everybody's been refunded and it was about 7 k that was that was taken so craziness craziness craziness but everything is back online and everyone has been refunded the attacker was in paris for what that's worth
there you go i don't know it's probably that same guy do you remember the french hacker who did ticker dollar sign ticker do you remember that at all it was probably a year ago
i don't yes it sounds like it feels like a decade ago
yeah barely he was he was from france i don't know what baby is to go back maybe it's him maybe he's back anyway we talked about that already
i'm sure yes i'm sure that was a stressful stressful time for our ponder folks to i know friends to be dealing with
i honestly barely saw what was going on until it until it got to the point of like we've refunded everybody and i was like oh i didn't even notice what happened so all good i almost used one of these photos as my background and i should have and then i forgot this the pirate cooks even harder at home good good comment brian this is a an article from architectural digest that actually tours dan's home so amazing and it's quite lovely and homey so there you go if you're feeling very nosy there you go it's kind of fun this from grin me moving fast and breaking things at nayanar so i was surprised to see this as well push pr prod on your first day cause an outage on your first
day so i did not know that he was working with nayanar so that's very cool to see gryn and congrats i didn't know that either so did that just happen i guess yeah
yes
yeah okay and that was funny that he said you said oh my god saw this had to run to your feed to see what i miss love to see some of my favorite people come together congrats and grin said thank you now you improv aren't the only match made at fc one that's barcom 1 but i think there is actually more than there was already more than that
i'm sure there are more but that's super cool
very cool very cool to say this was from ted regarding spam labels and i thought this was helpful to those who might be looking for assistance in getting rid of their spam labels she said there are five most common pieces of feedback that i give don't only post mini apps think of horror cast as early facebook if someone only posted dolphin olympics screenshots
every day don't even know
what this is them out two avoid overly generic content casting gm or inspirational quotes is fine occasionally but if your feed feels interchangeable with anyone else's it's hard for people to connect with you i mean we love a good gm but also yeah go beyond that don't use ai thoughtlessly people notice when casts or replies feel like chat g p t wrote them it's fine to use ai just add real thoughts or emotions authenticity wins here also don't just use chat g p t when you're writing your votes with reasons and various daos
don't repost stolen photos this is a big one art from the internet firecaster values original content or curation that reflects your taste not just what's trending on pinterest reddit or x especially when it's so easy to create your own thing like just create your own thing quality over quantity you don't need to cast 10 times a day or reply to everyone everywhere or take time to cast things you would stop scrolling to read good advice from ted i have been noticing i've been very hesitant to discuss it i don't know and we're gonna get to let me get to naomi's too if i can find it oh i don't think i pulled it
i am having a hard time telling who is real and who is not right now
and you as in human versus ai or human versus or like in like engagement farming versus genuine people
i mean you can be engagement farming and still be a person and if you're engagement farming in a way that doesn't feel exploitive i'm okay with that i don't know how to there's a weird line for me and i'm having a hard time finding the line because i have suddenly a lot more people in my replies and it gets a little bit time taxing so i'm struggling to determine what how to handle that i guess is the best way to put this where i don't want i don't want to offend anyone and i appreciate those who are coming with positive intent but at the same rate if you're only interacting with me to get me to interact with you so you can get further up on the leaderboard like that's getting to be a bit much so yeah regardless of whether or not you're ai or not you know what i mean like it doesn't matter
so do you feel like you need to reply to people who respond like who add comment who reply to your casts
yes i do so that's and i i have to start to create a line there and i don't know where that line is yet so i'm figuring it out i had more time last week so i didn't worry about it too much but i noticed it a lot more in the past couple of weeks so i'm trying to figure out yeah like also i don't want to necessarily encourage that behavior too it's a little bit of that of like i don't really wanna encourage this so trying to figure it out vote without reason i wish i wish yes to crypto no it's vote with reason and sometimes it's vote with reason via chat g p t yeah it's been a i told you everybody's cranky it's a lot of cranky people on the timeline lately not ted ted's never cranky alright moving on couple more things and then we're gonna dive into the coining of it all i know i know we're already
yeah we haven't even talked about coins
we haven't even talked about coins this was so funny from zinger wow just walked by not even an hour later and they already had it updated even winced a little when i dropped linda's name looked like they were covering up some bruises and sweeping up some broken glass mini app this was in it there's a quote cast of linda's trigger cause it said frame triggered and then singer changed it to mini app which very funny very creative yeah i like that one so very funny there's been a lot of cool amas happening so if you they've kind of amped up again which i think is great and this was from dan welcome to r r hoover founder of product hunt he kindly agreed to do an ama this was a while ago on april 11 ten days ago but it still exists on the timeline so if you're interested go check it out i wanted to show that this is from dan team is cooking something on web don't know what don't know what we don't know what so waiting to see it's not here yet but
can we tell i did not even see this yesterday can you tell other like anything on the screenshot that gives
no nothing that i can tell he blocked it all out
so i don't know but i'm curious because i do use this on web a lot but i wonder okay right right as we started i had to adjust something so i have our screen set up so when i share you see most of the screen but we don't have too much extra space and i had to move this over the side the cast over to be able to see the full thing so i think there was something adjusted it's wider because if it wasn't oh yeah so something's something's up but i'm not sure what so i thought that was interesting this from oh i'm gonna come back to that in one second this from taob and we're going to be talking more to james on wednesday bp abundance about this announcing farcaster network goods funding round spring twenty twenty five the biggest retro pgf round yet is coming to farcaster hosted on rounds we're rewarding builders tools and public goods that have delivered real value to the network so this is gonna be happening very soon initial funding momentum we've already secured 6 eth from octon and dwr with purple expected to join soon with the goal of 15 eth for the first time we're inviting the farcaster community to contribute directly via a dedicated contribution mini app launching soon let's fund the ecosystem together so very exciting and we'll have more about this on wednesday all right i'm going to shift a little bit here because this is going to roll into our next conversation some loosely held beliefs on how money will flow to creators this is from v sponsor get status appreciation or access collect acquire aesthetic artifacts for status invest get upside from being early buy get useful services i think these are fundamental social contracts that are hard to change and content coins don't fit neatly into them today it could be collect but the aesthetics are not dialed in why am i collecting 1,123,890 of these will having this give me a smile when i see it next will someone have a conversation with me about this it could be invest or speculate but where do gains come from creators don't want to pump for good reason so the best hope is that it becomes a meme despite the creator's intent pump works because meme creators are unabashedly pumping there also isn't any scarcity or exclusivity literally billions of things it could be sponsored but it feels so indirect the creator doesn't even know who is buying the coins in most cases they don't get any status in return to be clear i think it's great to experiment with new things for creators i think there is another iteration of content coins that could do really well it might only be a few clicks from what we have today but those differences are very important and we need to iterate towards them okay i kind of jumped in in a weird place
but i liked the thinking here of different ways to support creators and i had started thinking about that from the perspective of gm farcaster and how do we sort of align the way we have different ways in which everyone can support us from free things and i ended up putting a cast out which i forgot to throw on here of here's seven different ways that you can support us that don't cost you anything literally like and it and it's huge for us to just you know be following us liking us on youtube liking us on spotify liking you know all those kinds of things subscribing all of that helps us in many different ways that folks probably don't understand because then it gives us one more metric when we are going towards to sponsors to say hey do you want to sponsor us here's our audience etcetera so there's that also but i did think it was interesting because we we yes exactly subscribe and smash the like button i hate it so much but it's true we're quoting i hate it but it's true all of this is coming in the discussion of content coins
okay
what's a content coin
why why why
why why why why why why why why why why why why why why why why why why why why why why why why why why why why why
why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why why
i'm trying to decide where to start okay so for a very long time zor existed to be able to mint nfts so you could go on there and mint videos any kind of media written media many different types of things pdfs many things you could mint as an nft and gm forecaster for the first two seasons all of our content was minted as nfts on zuora when we started for a while that was the only place you could actually see the recording so we were really dedicated to on chain first it became unscalable so we shifted a little bit i i'm choosing my words so wisely here
and also because zuora changed their approach and they changed their approach gradually over time a lot of people think it was sudden but it really wasn't if you look at the past year they have been slowly going into this direction and also if you look at jacob co founder of zuora his writing for the past couple of years he has talked about content being able to co to coin any kind of content tokenize any kind of content and he's talked about this like extensively about that every type of content is going to be tokenized at some point and thinking about it from the lens of larger social media platforms like tiktok like instagram and looking at it as a way to support creators with sort of micro payments of support okay so we went from you can drop an nft on there then it shifted and you can set the pricing and then it shifted to a free mint meta where essentially there was a fee but you were paying this fee to zuora zuora was splitting the fee with the creator and that was a point zero zero zero seven seven seven amount it ended up being at that you know i think at the highest point it was like $3 or something like that or less depending on the price of eth then there was this integration of erc20s so they integrated with uniswap to be able to price in any kind of erc20 so you could price it in degen for example so there was that moment and then it shifted to anytime you put an nft up there it would be split into a coin if it hit a certain number of mints it would become a coin and then it was everything becomes a coin even if it doesn't hit a certain number of mints to where we are now so now where we are is that there is no nft there's essentially a fractionalized i don't even know what you're fractionalizing because you're not fractionalizing anything there's nothing there you're owning you're owning an erc20 that's being created from the content once the content is posted what's happening is it's being issued as an erc20 that you can collect like those strawberries behind you but you're not going to see the strawberries in your wallet you're going to see the erc20 tokens in your wallet okay so this is where we are
then this happens for those who weren't paying attention over the past couple years since base launched they have been launching things on zuora they have been minting stuff on zuora they were minting nfts there's an a famous nft that launched day one and it was it's called the day one nft by base and they have minted many different things over the years since they they launched with regards to content on zuora so this past week they launched
everything basis for everyone the thing that's behind me right there as a coin on zuora so that happened and it happened quickly
so for those who weren't paying attention let me step back here
this seemed like a new thing to some people that it was brand new and that base was launching a token and they speculated to a point of thinking that because a couple of snipers sold very early that base was rugging the token so they were looking at this launch in a traditional tokenized sense of like oh this is a protocol token and therefore they rug the token because it went up and it came right down like many such cases then there was a flurry of activity including a twitter space no base did not rug the token no they did not they did not sell any of the token it was just random people who picked it up there are snipers there are snipers who have bots that are set to pick up certain tokens as soon as they hit this happens on every platform that you can think of like i don't care what the platform is there are people set to do this so that's what's hap that's what's happening there and then jesse goes on does this twitter phase it's crazy but during the twitter space token starts to go back up again so it actually ends up at a higher high than the top part before that point but while that's all happening there's a lot of fud happening and a lot of people calling them out and it comes down to that this was a you know coinbase is coinbase and even though base is its own separate thing there was a lot of feelings about what they should and should not be doing and then one more thing happened after that is that you know jesse in sort of saying you know i we're going to be supporting this no matter what kind of made a little misstep and here's how i take this when this all happened this particular misstep was that he he buys every coin he buys a lot of them and he has been doing that forever like when i say that forever like this is not new so he he minted or whatever collected a coin by an artist that artist had a couple bases for things that base is not really for but in defending the artist he kind of stepped in it a little bit and went a little too far and then ended up apologizing for making these errors so can't long post on here this is from jesse so here's a screenshot tldr i believe in coining i'm hopeful we'll see more experimentation i'm sorry for my tweet this morning and that was he ended up sharing this and a lot of people minted it and there was a lot of offense on the timeline i'll just put it that way okay i think i've done my best to explain it i have a few other things to pull up but i wanna pause there for a moment you had an interesting conversation about all of this oh you wanna share a little bit about that well
yeah
i mean i think this is one of the first stories
where it just starts reaching like the broader population
yeah
so
i don't even know where to go i don't know
so it was in a newsletter that you read right
yeah the well the token dispatch newsletter is like a daily newsletter
and they covered it i didn't even read i didn't read it by the way but all of a sudden and but they covered it and my husband read it so he came in he's like oh what happened i you know i saw something on base and and and it's just he's like it's really bad and this is the like you know it's like when you're the story is base launched a token and and rugged everyone and there were insiders like it there were insider wallets that had access to the token before they announced it then they sold it $17,000,000 where a lot you know like this was the narrative so i'm giving a little more color into or just kind of context and then it came down to like well jesse believes that everything should be tokenized like everything is on chain and then i found the like got into the argument of like but why like that's the dumbest thing i've ever heard why should everything be tokenized so just going back and and like when zuora kinda came out with like we're not doing nfts we're doing coins we've had so much talk it's like but but why and not understanding it it's really it just and i found myself in this weird position of defending token everything because i wanted to play devil's advocate and share this other side of the story but i'm not even sure so i would just go back to what jesse's kind of saying and and i'll give jesse so much credit he is out in public
yeah
i can't even imagine like the just the volume of of
comments that got thrown his way good bad ugly everything
some of it was very ugly
some ugly a lot of cheerleading for him too right like and i just what what i find from jesse is like he's really really consistent
yes
and owning so this is new like he's been saying forever coin put everything on chain right so how do you how do you get there so the only thing i would kind of say in his in his like the three things he believes is like
the the first thing is everything should be on chain
yep
is that what he said or was that his one or two i believe in chain he said coin yeah but we know that coining
i think this part is probably better where it's at whoops where he says to be explicit the north star for base base is to grow the number of builders and creators on chain creators and builders then generate the supply of use cases content etcetera that will onboard everyone else everything we do is in this pursuit this is why we've been focused on farcaster from the beginning and continue to double down it's a hotbed of creators eg posters and builders eg mini app devs it's also why we're relentlessly working to grow the pie of who and what you can create e g with zuora so yeah
so just think of like if you think of like concentric circles like i also believe the world should be on chain like just or you know and and what does that even mean i don't know right like but generally i believe the more but then the further you get away from people who live and breathe kind of what does that mean the more you lose the message and people cling to thing right so when i'm in this conversation yesterday and i'm like well we believe everything should be but why that's the dumbest thing ever i was like i don't have the argument immediately to to answer that because so it's how do you get that when i when i
think about this from like financial when i think about it from financial products and from like most things that go through a bank i could say most of those things should be tokenized because it's easier it's cheaper there's a lot of reasons once you get outside of that sphere it doesn't make as much sense and i'm talking like larry fink has said this from blackrock like it's not just you know us crazy crypto people like they see it because it makes sense from a technological perspective from a use case you know all the things you see it happening with stripe you see it happening with paypal like visa like it's coming it's all happening but does every single piece of content need to be a token
it also comes down to what is content
right
so the way i got him when in our conversation he's like well i can see if you have content like actual content so what is actual content a gm forecaster show like that's that's a piece of content here's an article that's a piece of content basis for everyone this is you know he was like that's like how is that content right our memes content right then then who defines what content is so then i just realized it's like people just you know like if you're not spending time living and breathing you're not thinking about it but it's like if you wanna get the masses and get people to understand and also people like right like financially i think most people understand money
yeah
doesn't mean you're good with it doesn't mean you know what to do with it but you understand the concept of it most people like actually i don't know if most but there's a lot of people who don't live in social media they don't create right what's the they don't like 1%
yeah i know
you know 90% of people are not creating content
there's a
lot of people who aren't using content like using social media
they're just consuming they're just consuming and i think the idea behind all this if you think about that like that is if you and we see this happening we've seen it play out we've seen it with yum yum so good ice cream hello tiktok chick you know like creating content in that way where you're you know what i mean like there's all these different ways but rewarding the creators and finding new ways to grow other creators do i think that's a good thing yes do i think every single approach to it's going to work well probably not because the biggest thing in this that's missing is the social graph and the social piece of this like you if you're building this into something like tiktok like instagram that already has hundreds of millions of users it makes a little more sense to you yeah when you have to start it from ground up it's much harder obviously so are you going to have all the users there who can then appreciate the content and want to you know tip you on it essentially and that's essentially what this is right but in a in a different kind of way so the only way it makes sense and by the way if you go back to the day that they launched this new model you'll hear me saying the same exact thing somewhere ask gmc one zero one but i guarantee i said it before the only thing that makes sense is if it's integrated into a social graph and into a into a network that already exists or a larger network so where does that make sense coinbase wallet then it makes sense so obviously this has been the direction and is the direction and it's also like it makes sense for it to be connected with farcast or it makes sense like where you're going to see the content organically where i'm going to see your strawberries was on farcaster because i was i was seeing i'm following you anyway so i saw your strawberries there and then if i wanted to mint it it needs to be easily integrated where i can just go click if i have to go out to somewhere else or do something else then it's unlikely that i'm going to take that next action so it doesn't make a lot of sense so this is why i think these things are going to start to come together in a more integrated way and it's the only thing that makes sense to me but also for me there's a lot of things i'm not going to collect as a coin i'm just not because it's not collecting if i want to actually collect something i want the nft and we can have the whole big discussion about it's not really on chain it's ipfs blah blah blah but i can still see it in my wallet so great example of this was right after the basis for everyone situation i just went to so i could see this this when this got released and that that went crazy they released one that was the farcon poster and my first thought was i want to mint this but i want it as an nft i don't want the coins i don't want a million of these coins for this thing i would like to own this but i want it as an nft and maybe even a physical piece but i don't necessarily want piece of art as a coin so yeah thoughts
okay right so this goes and mike has a comment like yeah comparing like why does that people used to say why does every business need a website like i remember that
yes i do too
the answer to be found why does content need a coin the answer to be assigned value it may not make sense today but it might make sense tomorrow right you're right maybe and and we'll see and then we'll get there
the other thing i've said many times when i've been sort of critical of this direction has been but i could be very wrong and i am totally totally i could be totally wrong this could be the absolute right direction and it's just not vibing with me because i come from i've been here a while and it might be the exact right direction for the newbies coming in yeah i don't know
and you'll only know until when everything is tokenized right then you could be like oh is there value in here because you'll start to see new behavior emerge but go back to like what fundamentally what is it about blockchains like what do they give you so one is ownership and that's like from the nft perspective i think that really is like the psychological thing that you want like i wanna if you're a collector you want to own that's the most important thing and it doesn't feel like the new zora like you're not owning what are you owning it doesn't feel the same but the other right so kind of what mike brings up is like the assigning value yeah and that is kind of the beauty that i see in farcaster is like from a social media perspective like there's tons of value in social media and it's all captured by platforms what i love about farcaster is like what sort of ways can we see value being dispersed in a more equitable fair way to the creators so that is interesting so from a i've been playing around with zuora i like seeing things i've coined because it feels like an album right i don't own them whatever but it's just expression it's like self expression these are things that i'm expressing in art not art i i wouldn't even say art but just a visual visual expression but then you've got your thing of like what are the coins you've collected yeah and that's also another it's not my wallet right i don't own it it's not but it's a visual representation of things that meaningful me and these are the like when i've coined things in the past or collected it's because it's someone i know that i it's like another way of tipping it's like i just wanna signal i like what you're doing
and i get that perspective of like i want a signal i like what you're doing i want a signal i liked this image this post this thought this writing whatever it is but that's why in that respect it only makes sense to me when it's really smoothly integrated into a social graph mhmm and i know zara is trying to be its own standalone social graph i just think it's gonna struggle in that way but we'll see also i could be wrong lot i also
could be wrong not use forecaster for the social graph and just be the
i don't i think it is i think it is i think that i think this is all gonna come together as part of coinbase wallet is the way i'm seeing this and based on based on who's saying what and how they're saying it that's what it appears to be for me because if you look at farcaster's already integrated into zuora because if you look at who you see when you log in if your farcaster account is part of your zuora profile you will tend to see the people you follow on farcaster because like i see you i see your stuff on there it's one of the you know what i mean there i see people that i follow on farcaster there first and then i see other things that are trending so there's definitely it's definitely there
wanna know what i see
what do you see don't i don't think i do
my entire
zora feed no joke is jesse bought this jesse bought this no because i follow jesse i don't follow enough people yep and it's not it's just everything jesse bought so i think that's funny okay here's my question yep i wanted to cast this but i didn't really want to because i did but i'll ask you
yeah
or i'll or i found ask the chat i'll ask the chat i will it'll be a just a question to put out there what i found one of the most interesting things about the entire like meta over the past week is the only criticism i've heard is jesse on jesse personally and base personally it was jesse and base i i've seen nothing about zora
oh yeah well
no nothing and nothing about jacob like there's no there was like no criticism i think the past bit i've not seen it so that's what was
like a nice nice day
of like
well i also saw it when it first launched but i and i was actually some of the criticism said criticism maybe that's why i saw it uh-huh but from artists as well talking about exactly what we've been talking about exactly what what
cyber shakti just said and i've said this too 100% give us nfts give us our tools back my biggest criticism of zuora is i think this is an interesting exploration of a direction but why didn't you just keep zuora classic as well and i realize that there's complications in that but also that's would have been i think personally a better way to approach this because then you would not have lost so many of the artists and creators who were loyal to you mhmm along the way while you were creating this new thing so then you you lost some of the people that you want to create content because they're pissed
so can we just yeah by the way builder day for farcon builder day i wonder if we can just like someone can hack together a quick mini app that is zora classic just like an nft launcher
it exists the code's out there essentially that's what pods is pods is is zora classic part of it it's not all of it but it's part of it and that's why we like it better positive yeah go ahead
i have two more i have two more kind of like questions about zoor i have to remember because i this is the other thing i wanted to ask but this from mikado what i don't understand about zoor is how does the creator earn because a bunch of people bought my zoor coins but if i sell my coins i feel like rugging them so there's two things so right like the the coin gets launched you as the creator gets a certain percent you can also buy more but you automatically get you also what i understand is there's a transaction fee every time someone buys or sells you get a transaction fee denominated in sparks right yeah not your not your coin so that's like your sparks
sparks are just eth
it's like like sas they're like little like like a like a very very small percentage it's like jacob's trying
to make sparks happen yeah he's trying to make yeah
but okay so you
get that name
you get a tiny tiny amount of eth so that i think as a creator you can feel like you are earning tiny transactions when people trade my feeling of like when i coin things i'm never like oh i have my straw tiktok strawberry coin that like i'm not gonna like not gonna dump that on people like yeah at the end of the day right unless like money is on like we need money to buy goods and services yeah i can't do that with my hash my dollar sign tiktok strawberries tiktok strawberries so then it's like so if i wanna buy a cup of coffee today it is off ramping it into something
the sparks the sparks need to go
and mika's right it will rob people right like yep so that's been one of
my big criticisms and ripe and i have had this conversation and we have this is what i mean by this is early when they switch this model that is the biggest way in which to earn is to if you have a viral post is to sell the token which then dumps on the people holding it which pisses people off same thing with clanker by the way same thing with clanker except with clanker you're earning a little bit more in fees so you feel less inclined to sell yeah so but because that's really the only thing so when i did the stupid givelify thing which really was such a throwaway like just a funny like hey i'm gonna do this funny thing i was surprised at how much i earned in fees but that also made me not want to sell anything and that made it better for those who did buy because then i was also even burning and i need to go burn some more the the because you're earning from the of the token as well so you're getting some in the token so i ended up with like a bit more than a billion of the actual token plus eth so i just started burning the token that i was getting because also why you know i don't want to sell it i don't want to dump on people's heads there's no reason to do that if you're also earning a fee so it's a weird balance or most like a dance of like what do you do so but but from a creator artist artist point of view like that's a definite crazy thing to have to think about of like if i do this i'm gonna piss people off but if i don't do this i may not earn any money it's like a weird issue so i don't know like that's one of the biggest problems by the way really good conversation in the chat going on between mike and gregarious here so and i do think that like yeah this was the this was the big point i think it's bad if we're holding it up as an asa means to creator livelihoods so i think that's the that's the issue and there's it's complicated we so from what i'm taking from jesse's perspective is trying to switch the narrative so that we aren't as precious or worry as much about dumping on people's heads with a traditional meme coin but where we are right now and for those who are putting funds into things like this this is where we are right so like where people have certain expectations so it's hard to shift that mindset it might you might be able to shift it to new people but it's gonna be hard for people who've been here for a while that's i think
we need like a billion pieces of content that are all worth nothing yeah and then that becomes the expectation
yeah
so all you create is exactly you're yeah you're
yeah yeah okay alright really quick couple more quick things on this topic and then we'll wrap this was from lucas from pods content coins are net positive but nfts are often a better earnings mechanism for creators same podcast episodes zora four thirty dollars in volume a dollar 20 earned pods $45 in volume $25 earned 10 x less volume 20 x more earnings coins equal virality and upside nft sustainability and higher floor it's so early for on chain content there's room for both models to win agree also what i like about pods is that you can encourage people to mint your content by giving them another erc20 that may or may not even be your own so that to me is another like mechanism that is a better approach in my opinion like i'd rather reward folks for buying our content if at all possible so yeah and also it comes down to we want you to watch it too
right the reason i think one of the the reason people get up to zuora is because you were taking something away that we liked
mhmm
right yeah and to lucas' point it's like have both like there's have both there's actually we we want them both
there's value to both yeah yeah there's value to both but for creators who are doing something like a podcast highly recommend that you check out pods and it is using the old zora contracts so there you go this was from alana levin from variant i believe all of these things simultaneously one expanding the set of ways for people to earn online or on chain is good and zuora is playing a role in this two earning on platforms like zuora is not apples to apples comparison with instagram payouts it's an actively bad comparison when reasoning about second order effects the top of funnel source of funds is entirely different businesses looking to convert customers on insta versus retail consumers on zuora good point three the business model for tokenized content is still immature it took attention platforms years of iteration to hone ads based business models and years more to start sharing with the people creating content it'll likely take many iterations to figure out sustainable models for tokenized content
but accelerating the timeline for sharing earnings with creators is good i thought this was really well well said but we can't compare at all and it kind of goes back to where i started with these here are the different different ways and different things this from proxi today clanker team shipped content coins now live ideologically it took a lot but devlift was zero we actually had it live already and didn't know i'm i'm here for proxies spicy spicy takes lately you're you can already do this with clanker as well that's exactly what he means but without only thing you can't do is video but you can do gifs and and images so there you go another another option
microw was a coin right it was coin first then
you could add an add an image guess what content coin yeah content coin yep
and couple more things remember how much of this is from tldr remember how much most of farcaster was worried about scoffed at looked down on doubted early dgen i do because i felt that way
i didn't
and remember how quickly we changed our tune once dgen succeeded and got attention and how it helped the network to a big growth moment this experience makes me much more humble about casting stones and instead i prefer to be open minded give things a little time to play out and most importantly do what i can to help out the builders who i believe in with whatever they happen to be trying so this was in regards to stephen sill saying is ct gonna shut the fuck up now because this is when it went back up and
i didn't even know what that was yeah that
was part of the part of the thing is like when the numbers started going back up there was a lot less complaint
okay number one ct is not gonna sdf you
no never
not not on brand
know what they do
two totally agree with tldr and the like everyone has opinions but we don't you just don't know i know one thing i think is hilarious was i think it was now i'm forgetting who it was someone shared an article from fortune about the bay you know the it's the coinbase and we forget that coinbase is a public company and it's like oh coinbase public company launched a meme coin and rubbed everyone anyway so he shared this article good and in the article alone one of the founders of pump dot fund or pump fund was was quoted but i they describe pump fun as like the standard bearer for meme coins it was like it's like this is the do we not remember the controversy of live streams that happened
oh my god yeah
six weeks ago like two months ago two seconds ago i don't know and now it's like let's bring in the adult in the room who's a guy who is the established meme coin launcher like what anyway so i know this people have short memories and like the outrage anyway by the way twenty nine minutes of forecast are newest
i know
i didn't even tell you this i didn't even tell you this i have a 10:00 meet meeting so we
gotta let you go
that i assumed yeah i was like oh
we're gonna done by now yeah
yeah i didn't
even realize so speed run a couple other quick things this was from jesse as people assume this week was some coordinated marketing campaign the truth is the effort to coin things from base went from zero to one in what less than a day with drew kaufman doing the creative and only goal being used to use on chain tools everything else happened coins are viral i guess so in other words zuora team didn't know this is again if you weren't paying attention this would seem like it came out of the blue but really they've been putting stuff on zuora since literally day one there's a nft called day one but here was the really funny part and this is what would explain this for those who know who the hell is drew kaufman been here saying this
that's hilarious
hi drew this is this is for you today so that was really funny we know drew this was from kecker's really good conversation about this as well talking about tipping this is where there started to be conversations about bringing back warps tipping but for other tokens and this was from ted strong opinion somewhat strongly held creatives don't want to create content traders the word trader is inherently transactional someone primarily seeking profit optimizing your price movement without emotional or physical attachment to the asset itself i don't know a single creator who seeks that out and i agree i prefer collectors personally and then i want to reward them for that brad also very funny content it's marc safe from content coin kerfuffle today you should have coined that if you didn't really you should this was from naomi that we didn't get to i meant to put it in the other section reminder bringing the world on chain rings the world on chain go give that a read it will be in our show notes this was from nicholas does the timeline want me to spit fire nicholas got a little back to the crankiness do you think sema is fretting about contact coins do you think p marco belagi or ilya even have an opinion actually i think they probably do everyone talking about about the saga it's a fake job and no ambition to actually do anything themselves spending their time on twitter commenting on forgettable fluff yeah he's been he was a little cranky but also great points and then lastly this from dan welcome to jacob co founder of zuora he kindly agreed to do an ama so go check that out because also do you know what's happening two days from now
another ama
no zuora the dollar sign zuora coin is is is dropping on the twenty third sometime on the twenty third that has been in the works for quite a while they said a while ago that it would be dropped sometime in the spring the spring is apparently two days from now so those who have created content in the past on zuora may or may not be rewarded with an airdrop we'll see how it all goes but look for that on
on wednesday wednesday so great okay here we go
so this is
that was a lot we took thank you a lot
we took a week off i think yeah we got we could've gone out
so big thing for the rest of this week wednesday we're going to be on at 11:30am we'll start with news and then we have vp abundance joining us james from ogden talking all things ogden including the new farcaster round that is coming very soon as well as all the other things they have going on and then friday at back at 08:30am with emma from the far con team talking about all things far con which is happening next week and oh my god very excited but a lot to do alright and with that anything else adrianne i think that's it alright everybody it's been a blast thanks everybody for hanging and with that we will see you on the timeline and back on monday i'm looking for my season three thing there we go and with that everybody bye bye