hopefully we've had some really good shots and here we go gm farcaster it is thursday january 25th i had a weird week so i have to keep checking on what day it is and you're here for 21 minutes of farcaster news to start your day or end your day if you're on the other side of the world and today we have a special guest host johnny mac here i am so excited nonlinear from we'll be chatting about fabric and hyper sub and farcon but he's also gonna be here as my cohost adrianne was trying to get here she's on vacation and she was gonna try and you know grab some wi fi from the jungle and it did not quite work out so johnny is gonna be is gonna be the full on cohost today so welcome let's
do it
welcome to to gm forecaster so you're i mean you're always on there you're you're you know what's going on so this will be easy so i'm gonna start with new feature for warp cast dcs here it is images finally we do have images now in direct cast and group cast so that's exciting if you have not updated your app so update your app restart your app if you're not seeing it yet because i had to do that a couple times to make sure to actually get it working and i believe it's now on web as well so that's exciting also gift warps for a cast i am super excited about this and i've been asking for this so this is exciting tap into it not exactly like this but i wanted to be able to like give 10 just for any reason so this is a perfect way to do it tap into a cast tap the warps button to send 10 warps to the author of the cast we have an extra click right now to train people prevent misclicks but we'll be making easier to do right from the feed for power users soon other notes it's a fixed 10 warps not customizable warps are private and personal so no public displays right now we may offer it in the future if you're gifted warps for a cast you'll have context and the ability to message in your warps message feed so what'd you think about this i love this what'd you think john
i'm a huge fan i'm i've been saying like my mantra to them has been make it easy to make money on workcast yeah and so i'm really excited to see them experimenting with this
yeah i love this i love gifting things in general so anytime i'm like yay i wanna keep things
easier i also think it's like it's like a powerful tool too for like enforcing the culture that you wanna build like ted experimented with with this and she's like okay ask interesting questions like
yep
you know be honest like be truth seeking and you know i'll i'll send you warps for engaging and she did and i think that's cool and it's like i'm gonna do a similar experiment in the memes channel which is like you know
love it
giving giving warps to people who post bangers and it's like it's like that's a signal like hey that you know this is what works yeah
so i think so what's a banger meme to you i think this is you know this is somehow a
little yeah
i think about this banger meme is it a certain number of likes is it certain number of recasts or is it not that quantifiable is it like you know it when you see it
it's a good it's a really good question i i actually think about this a lot and i think like it so so you have to think about like the quality like the separate from the outcome so it's i think the outcome obviously of a banger would be like it gets a lot of engagement it gets a lot of likes and recasts and replies and now warps
but it's weird because sometimes what i think is gonna do really well i'm like oh this is such a banger it just it goes nowhere like no one cares it's like no one thinks it's funny and then other things that i think are like kinda like not that funny or not that good will do really well so it's hard to say like i think to me the qualities of like a banger is that their memes like are fundamentally like timely they're topical they capture a feeling that everyone kind of has but maybe hasn't quite yet articulated and they do it in a funny way they do it visually and so that when people see it they're like yes like that's what i was thinking or that's what i was feeling and this meme expresses that and it does so in like this humorous way like the like those are the qualities of a really good meme
i agree
and sometimes like you can be you're just off like you're either too early to something or you're too late to something or it's like the humor isn't quite there i think internet humor too is like can be really layered you know like we can
really dive back to things and you know i mean i think there's also crypto memes so i don't know how many times i've replied to a cast that was like 1 you know 1 parenthesis what because and and if you're not in this space you won't even know what that means and i think within farcaster it goes even deeper like where we have these you know mole and kiwi and all these things that like you know so you can do these callbacks too to things and it it can get really yeah
there's like inside jokes yeah like in a lot of ways i think that's like memes or that too it's like an inside joke that gets really big that everyone can kinda reference
yeah it's a great explanation i think that's a great description the inside joke and then and just depending on you know how big the inside is right sometimes it's a tiny group and then sometimes it's a much larger cultural moment and yeah like really good way to put it yeah
like the barbie the the barbenheimer kind of moment was like that was a key inside joke that basically the entire western world was a part of you know so yeah like
that's a very big inside joke but still
big joke yeah
yeah totally i love that i love that a few other things that dropped yesterday new feature for warp cast group dcs invite via link so that's great much easier to invite people to an existing group chat on another app no more manual searching and inviting flow also easier to share a link to a new group in a cast or channel description so that's awesome and then he was testing something so dan was testing something last night and i ended up as part of that test and so he'd say testing can you join this and you'd click on the link and you could either join or not there were 2 i could join there was 1 i couldn't and i was like i don't know what's going on but here's the results and then found out that it was token gating token gating group chats based on existing some existing tokens that are already exist in the farcaster ecosystem so that should be coming soon so that was some tests last night so i don't know how the testing went but that's kind of exciting in another another feature that i think would be really helpful to things like daos and and various groups that have tokens so that's coming soon as well speaking of group chats have you were you in the hunger games at all or any of the like group chat experiments that were happening
i missed that yeah
i think you would've loved that so
it's i
i i know
i wanted to i saw cassie's you know cast about it and i was like oh that's cool i wish i would've like caught that but i missed it and then by the time that it was happening i feel like i kinda like was you know behind the ball on it so
it was really fun i i loved the experiment and i loved what you did and it was a really fun way to meet new people as well like or to interact with people you you don't interact with much maybe you know
what was it
so well
how did
it you just voted out half the people in each round like each 24 hours half were eliminated started at 64 and then half and then half and then half but it was you know strategy and gameplay and alliances and it was very like survivor survivor chat oh what what it was fun
like did could you could you like make your case for why you should stay
you could or my strategy was vote early and then don't say anything and hope they forget in there that and that got me to numbers i got i got to 3rd place with that strategy right as well so there was a lot of different approaches and it was really fun to see it play out so i'm kind of you know it's kind of fun to see different experiments and i love that the farcaster community really dives into experiments and that's that makes it a lot of fun couple more quick things before we switch all the way over to just chatting with you about all the things you're doing ama first join us for our first very first very first technical ama on farcaster with cofounder dan finlay head of product and developer community lead on friday january 26th at 1 pm this is with metamask so metamask is gonna do an ama where they don't get spammed so that'll be fun and then purple has a retro funding round starting on january 31st so if you have been contributing to the forecaster ecosystem and want to jump in here that is coming soon so get those props ready okay so i wanna switch gears and let's talk about so one of the reasons i wanted you know to bring you here today was to chat about fabric chat about hypersub and also you know give you an opportunity to sell it to us because we're actually thinking about how we're going to you know fund this this experiment we're doing and we did we did a trial run with some nfts on zuora and we're like okay we might need to try something different and see what works best so but first let's talk about you know what is fabric and what is microsoft
awesome well i i think we're still trying to figure out what fabric is
in your best in the best possible words how
would you
describe it
if it was a
meme what would it be
yeah yeah no i i think you know so very
by the way if you're not in the on lonely chat you might want to what's being spammed right now is return
of the mac i'm just looking that yeah
just making sure you are you are catching thanks to oofy
concretely i'd say you know fabric is a small team of engineers designers you know and you know we just hired alexander bercow from opensea as our vp of business development and so you know like we've built a couple products you know i think we're we're super you know excited and passionate about this idea of shared value of programmable money like kind of using crypto primitives and finding novel use cases for the technology so that's what drives us and i think you know with crowdfunding what we saw kind of when we started building it was alright people want a way to pool money achieve shared goals and share in the upside that comes from that and the tools that are available to do that currently are just really hard to use you know like you have to set up token distributions and you know it's it's complicated and so we're like how can you achieve that outcome in the simplest possible way both at the protocol level and at the application level and so that was the first thing that we built we call it crowd financing
mhmm
you know there's a there's a very user friendly client that we you know built this is what's being used for farcon precommits
and by the way the site is beautiful i have to say thank you the design was that your design
or was me yeah
awesome it looked great and it was just a nice flow but i love the look and feel of it so just you know shout out to the thank you as well
appreciate it
yeah so seeing actually last year there were some people crowd funding to go to farcon via farcon which was very
that's right chris co created that and then cameron actually you know like was trying to do an nft drop you know and struggled with that and then we did the campaign for the first farcon and that raised 5 and a half eth so you know that was a big a big help so yeah so you know we built that you know we started talking to people about it and you know like bigger creators and our thesis was like look you know you you know
like creators who have a demonstrated history of shipping you know delivering value people with reputation you know like they do have access to capital whether you're a fashion designer whether you're a musician you know whatever you're doing like you know there's there's record labels there's fashion houses there's movie studios like in you know in the startup world there's venture capitalists but oftentimes like the capital is on unfavorable terms for the creative and so we're like look if you have a really big audience why not just raise capital from that audience and then you can return that capital to them you know at a higher rate than what they would typically have access to so kinda everybody wins like you know the the fan is like basically getting they're they're they're supporting the the creators that they care about they're getting and they're getting a return profile that's greater than you know what their checking account or savings account would be giving them and then the creator is getting capital on more favorable terms so we're like okay that's a great idea very clear value proposition we talked to a bunch of people you know creators with audiences in the 100 of 1,000 or bigger and they were all like love it super cool not gonna do it
what's what's the pushback what's the hold up what do you think is holding up
straight up violating the the howey test like you are issuing a security like you are breaking law if you do that and so
the return thing i was thinking yeah the return piece is where you kinda when you start to create dividends if you will yeah you start to you start to go directly into how we tell you
which is effectively like what crowd financing is like you can deploy a crowdfunding campaign you raise money but then what's actually happening under the hood is that you know when you contribute you're simultaneously minting an erc 20 token and that token is effectively a share in an on chain cap table so that if the person who raised the funds puts money back in then everyone can withdraw on a pro rata basis and so this was the kind of like pool capital and then share upside
yeah
and so
it's a great it's a great concept and you know this is gary is the reason we can't do nice things
yeah so that was we we had initially like talked to a bunch of lawyers and everyone was like you can't do this blah blah blah blah and we were like fuck it we're gonna just make it in this very like internet native way we're gonna be agnostic to kind of the like geographic jurisdictions you know like it this is just a piece of infrastructure that should exist on the internet and yeah so we launched it you know there was some usage but we're like this is not gonna there's no business here there's not this is you know like we were we didn't wanna take fees because we're worried about breaking law so we're like it's just free and so our view on it is like it's sick we love it it's we've got a soft spark in our heart for this too early this but yeah i think i i think of it now as just like a piece of public infrastructure like it's a public good and so when actually last after the last far con we were like well now what do we do you know and we started thinking about like well what are people doing on chain they're minting nfts okay well but then what happens well then nothing happens they just kinda sit there and so we're like how could you imbue these with more value like what could you do with the 7 21 standard to make it more useful and so one of the things like we started looking at and how people were using nfts is as like memberships and as subscriptions but that's kind of fundamentally broken because oftentimes the value exchange is something discreet for something continuous and what i mean is that a buyer of the nft that's a that's a discreet purchase like if i buy like you know a gm farcaster nft like i'm giving you some money i'm giving you money once and if you're off thing like like access to a group chat or to you know like
like extras like like if it's like oh or like air drops we do airlock pants you have a whole
they just don't really have good economic tools they don't really have good mechanisms by which to ensure they can like sustain themselves as they're creating value on and on
value for the hold the existing holders for sure
exactly and so we're like okay well
definitely a challenge for a lot of daos including the ones that i'm very active in at the moment and we're trying to figure those things out
so then what what happens is it it favors a strategy of scale you're like well we need new members because we need money but then now you end up that creates new problems because now you have like scale issues so we're like alright how can you imbue the nft with more value and so we're like well what if you made it a subscription what if you made it a membership and so what and this is not a new idea there were like 3 or 4 previous eips that had basically crashed and burned that were straight up subscription nfts and so we looked at those and we kind of put our own spin on it which was you know when you deploy an nft it asks you what is the price per token and what we we added this kind of temporal dimension where it there's a a third input on the contract which is what is the price per token over time the base unit of time in the contract is seconds so what's literally happening when you purchase say an nft for $10 per month is what you're really doing is you're purchasing 1 month's worth of seconds those seconds then get populated in the balance of field which is what every system uses for token gating so if you go to like a token gated discord or a token gated bonfire site or a token gated paragraph page or
warp cast exactly
it's okay yeah what they're attacking is balance of they're go is your balance of greater than 0 and if it is that means you have the token and if it isn't it means you don't and so rather that being a static value it's a dynamic value so you buy 1 month's worth of seconds and then as time passes that balance is decrement decremented by 1 every single second so that at the end of the month your balance will equal 0
oh interesting
so the way that i think of this is a little bit like a
that's a really different is anyone had an approach like that with an nft
no mm-mm
that's really interesting that's
that's the that's the that was like the big idea that's the modification so it's a standard 721 nft contract with a timer effectively that's interesting and what this creates is a situation where you know you have gated access based on this credential that credential is on chain and the timer is on chain and so any system can basically gate access and as soon as your timer runs out you gotta put more money in if you want to maintain that access so the way it works today is you have to mint time and you can mint as much time as you want we're gonna ship recurring monthly recurring credit card payments in q one
that's cool
so that's cool you can put in your credit card number and then it'll just bill monthly and your balance will be topped up
very yeah traditional kind of subscription approach as well that's really cool
yeah so it's like subscribe with a credit card like pay with a credit card subscribe on chain is kind of the like marketing snippet yeah and then there's a couple of
can you so it would still the credit card would be the payment but you'd still like essentially it's crediting your wallet with the time yeah if you will
so we have a function in the contract called mint 4 and so basically what it means is that any con any account can mint time for any other account so we have a we're gonna have a a a programmable eoa wherein we charge the credit card and fiat and then we mint time with the programmable eoa on behalf of that end user
because i was trying to figure out like how you do the recurring charge you know i it makes sense when you're doing like a i am signing up for 3 months and i'm paying you know 0.3 eth right or whatever it is right up front for the 3 months so i was trying to figure out like how but how can you do it and that makes a lot of sense like that's the only way really to make that work because we don't really have a credit you know a debit card or credit card and a wallet you know it's kinda tricky so
the other way there's a couple of people sort of doing this and they use allowances which i think are really powerful and they're useful i think in more of like a business context but i'm i think for i think for consumers like i'm very bearish on allowances like i think they're kind of inherently insecure i think they're very fragile like it's just a weird concept too like you're you're essentially asking a user to approve an amount of time right it's all it's kinda like a hold on a credit card but not real it's that's weird it's a weird concept so yeah so i our approach was to just be like you just pay for the time you want
yeah combine the combine what works in web 2 with web 3 at the moment
yeah yeah exactly
i think that's great that's great yeah i'm really that's a really interesting approach
yeah yeah i i think so too we're trying so we built that we added a couple other pieces for like sharing upside via rewards so the earlier you subscribe and a longer period of time you subscribe for you earn rewards if which are effectively like revenue share if the creator enabled that so for example if you guys did one for gm farfaster and you say we're gonna say we're gonna share 10% of our subscription revenue with subscribers what actually happens is that 10% goes into an on chain pool and then the earlier you subscribe in a longer period of time you subscribe for the more shares in that on chain pool you have cool so we built it we audited it we got it deployed you know we deployed it and then of course this is like the sort of dilemma of all crypto companies now which is like congratulations you know you you you you built a protocol like now you need to build a client you need to actually show people how it
how it works yeah
how to use it actually and
get some people actually using it
and then you need to go and yeah get get actual usage so like that's what hypersub is so hypersub is just it's it's it's like a user friendly client for creating discovering and subscribing to subscription nfts and we're in the process now of trying to you know find creators find podcasters you know for people for people to use it
so i wanted to show and talk about the d gen one that just went with antimo yeah the first nft from the d gen yeah i'm gonna i'm showing it right now the first nft from the d gen sub is thank you is a thank you to the 26 people who've minted them in the first 24 hours with some posters and this is the hyper sub page for that which is pretty cool gives you all the information about this particular subscription with antimo
and this one has like a degen reward or something is that correct am i correct in that this is a little this has like a whole like dollar sign degen and let me say this because i keep forgetting cryptocurrencies are very risky please do do your own research not financial advice and we don't endorse anything okay now moving on look i really need to start doing that just like before gary comes to get me so how does that work where where you can can you tap into any erc twin can you tap into any kind of reward giveback and is that limited at all depending on geography i guess is my other question
so you can denominate subscriptions in any token you want so eth op base eth or any erc 20 so d gen you know usdc dai whatever and then as far as the rewards go someone asked like how do rewards not violate the howie test
right
and
that's that's kinda that's why i said is it dependent on your location
yeah and the the howie test like and again this is not financial advice i am not a lawyer like meow meow meow you know this is our this is our perspective
the the upside comes from it's it's rev share the the upside it's not coming on the effort of others it's coming it's it's based on other subscribers so it's kinda like it's not unlike you know a meme coin wherein you know i hold the token you hold the token other people hold the token us all acting like in concerts independently in our own self interest is actually the emergent property of that is that the value of the token goes up so for example like i can launch a subscription and i could say i'm gonna share 20% of subscription revenue but if nobody else subscribes there's no there's no up there's no rewards you know so what why so like what is causing the upside is other people subscribing and then the creator is saying look i'm gonna allocate a portion of those subscription purchases to the subscribers themselves so it functionally acts as like a discount which actually someone said this is
yeah that's what it seemed like almost like you could almost or or maybe it equals like additional time
or something depends
you know there's some i think there's some ways it can if you arrange it you know
yeah if you put the funds back into a subscription it it can but like i think that guy gray on farcaster was like oh i just like antimo set the subscriber rewards to 50% so you subscribe for 10,000 degen a week 50 5,000 degen of that purchase just goes straight into a pool and he was like oh like my i basically got in rewards a third of what i put in so it's like it acts as this discount now that's true until if the more subscribers that that collection will get it's gonna switch from being a discount to actually you can make money mhmm but again it depends it depends a lot on the growth of the collection
i think you could also and i'm i mean this would be you could look at it almost like loyalty points too so i think we could look at rewards similar to any kind of loyalty program it's just that the the reward lives on chain so i think there's there's an argument to be made there that this is not that different from getting you know a benefit or a perk from a company that you are loyal to so i don't
i don't know that's true
i think that's true but i think that's possible
yeah it's it's it's similar it's very similar it's funny like i everyone in crypto has been like talking about points and rewards and stuff and it and then i got i chuckle to myself because i get like a credit card statement in in in the mail from like whatever visa or bank of america and they're like you earned this many points and it's like what's old is new again
yeah exactly exactly or okay so cash back discover card they were doing that you know they were the first ones to do that it's cash back on discover card how is that you know does that violate the howie test
yep
apparently not they've been doing it for you know since what the eighties right so it's not like anything you know there is that as well and there's a number of companies that do that so i think it's just i think sometimes we get a lot of pushback on things because they're new and because we don't have regulatory clarity but to me i feel like this one will find its way eventually but i think it's a really creative approach to how do you support creators who are you know starting especially when they're starting something new it's it's hard to figure out how how to approach and make it sustainable so i think there's really something special to to this approach for sure at least for for the creators who are creating things on chain that i think is
the key that and then the other piece is that like it they can still make the same value proposition of a token without issuing a token
right
which is i'm gonna share in in in the upside of this project you know and to me that's like a a a a materially like diff like differentiate it's a material differentiator of crypto like it's it's and what i mean is that it's like that is something that crypto can do that other things can't do it's like this programmatic value transfer where you can say look i'm gonna take some portion of my funds and i'm going to give them back to you know my early supporters for the people who are with me early and made commitment to be with me for a long time like i'm gonna cut you in on my upside you can't really do that with fiat payments like the programmability that you know that that you have is just in crypto it just isn't there in fiat so to me that's like this is what we're trying
to touching on to did you see i think it was larry fink talking about the tokenization after the bitcoin etf he was making the rounds and he was on i think it was cnbc and he was talking about this is just the first step to tokenizing everything and that to me was like wow that's a huge statement from him you know from blackrock you know that's like a huge statement and that's also you've seen that evolution right to that exactly what you're saying that this provides something programmable something different a much easier approach there's obviously learning curves but once you you know once we make this more consumer friendly the there's a lot of problems it solves that i think aren't aren't obvious at the at the start you know at the
agreed obvious
so agreed
great mhmm i think the challenge for consumer crypto companies today is you know can we remain solvent long enough to see this adoption curve start to go up into the right you know like yeah like where where are we in the seventies eighties nineties or or early 2000 you know of of crypto if you're to kind of analogize yeah the early use of internet like and i mean
i i always talk about farcaster being google dorm room right now
yeah i agree
i feel like all the people who are building in this that's the moment we're in and so i'm thinking we're like early to mid nineties of web 2 you know what i mean like where things were just developing and trying out and some things are gonna be netscape and some things are gonna be chrome you know and it's gonna take a while to figure out what those are it's gonna be you know we're gonna have a lot of things that you know don't don't stand the test of time i guess but we're still we're still early yeah
this is this is kinda why this is like a big topic something i think about
a lot and we're going i i said this
we're already over time
we're gonna go long just hang in but i don't wanna cut the conversation because it's it's yeah i think important and interesting and we still haven't even touched on farcon so
we'll do we we already talked it before this we already talked about part 2 so i'm happy to come back but yeah i mean i'm it's something i think about like every day all the time which is like you know how how can we differentiate as a as a category as a as an industry how does crypto differentiate and so i have like this is like a kind of a hotly debated topic i think amongst founders which is you know you have people that say you know just you know the best way to build on chain is to actually not build on chain like build a web to app iterate quickly don't fuck with making contracts or auditing or anything like that and then once you find product market fit then you can you know build you can you can like whatever put pieces out on chain we're obviously oriented in pretty much the exact opposite yeah direction and i think our view like for me i just go back to you know basic business fundamentals which is like you cannot compete with an incumbent on the same terms as the incumbent like you have to do something different like the reason why david beats goliath is because he doesn't try to fight goliath's game you know he plays a different game you have to compete on a different dimension and to me like if you're building a product and you try to compete with you know name your web 2 company like you have to be just you have to be doing something fundamentally different than them in order to like in order to even have a chance at at beating them if you try to compete head to head you're gonna just get crushed and to me like the best chance that anyone building in crypto has is to use crypto you know is to use like the primitives that are available to us around composability interoperability identity programmable value like all this stuff like these are these these are like really rich raw materials that we should be leveraging to find a competitive edge so
totally agree and little bit of a rant yeah no i totally agree and and the way we build we're building this is we went on chain first so we're using unlonely because it's on base where you instead of we could be broadcasting this live on twitch or twitter or or wherever you know a million other places and then we always drop it first on zuora because we and it and that wasn't even possible until august until we got the l twos this would not have made sense so until we had that ability and zuora had you know raised their the memory size that we could even put like we needed all those things to happen but as soon as that happened it's like it makes a lot of sense for us to go on chain first and then we can tap into the people who mint who mint our podcast like we have you know we can reward them we can't do that with people who are you know subscribing on youtube we can't we don't know who they are right so it's a like it's it's a it's a whole different level of being able to connect with your audience that i think a lot of creators just don't quite get yet you know but they will and i think that's where hyper sub will take off but they don't quite get it yet they don't get how you can you know again we can also token gate different chats if we wanted to we don't right now but we could but also having a channel on farcaster has been one of the biggest things that have helped us and i didn't i didn't realize that was gonna be the case until we did it and then i'm like wow this makes a huge difference because we're still casting but it makes a very different you know place where you can collect your community and say hey these are people who are interested in what you're doing and now we can talk to them directly and it's not like there's no barrier and we yeah you know there's no barrier there which is fantastic so thinking like you know the 1,000 true fans sort of theory this takes it and really flips it on its head and makes it so much more true if you will like you can really get there and i think what you're doing is helping with that for sure absolutely and yes you're going you you got some go off king in
the chat
we liked your rant your rant was appreciated and loved very much so there was a couple other things that you a couple of casts that i wanted to share of yours really quick that you posted recently that i wanted to ask you about thinking about adding drops to hypersub paste links to physical products and or the contract addresses to the nfts you create and notify subscribers to redeem and i wanted to just ask about that like what that's really interesting i love i think the physical to digital piece where you know again l twos and and all those you know in coinbase commerce and all these different things is gonna make all of that easier to do so it's to me like something that i definitely you know love those kind of integrations so what's is that available is it coming and what's your what's your like thinking around that
sorry i just had to boost borrow that shit fast
are you
in the meat channel
no no so i told him i had to do this an hour ago sorry
so yeah so the drops thing it's a it's a really big feature and that's why i'm like asking for feedback because i'm honestly not sure if we should build it it would be it would be quite a big effort
interesting okay
and so but it's this idea that like the use case so initially when we launched people were like what can i use hypersub for and we just have the worst answer which is whatever you want which is like horrible so so then you're like i was like well
this is why you're hiring a biz dev
yeah yeah so where is something
that i left for
let me be more specific which is and so what i proposed is i was like okay this offer 3 things the first thing is a subscriber edition we're calling it a subscriber edition it's not limited edition and it's not an open edition it's an edition with a size that is commensurate with your subscriber base on a month to month basis so do that once a month second thing is offer early access
mhmm
and discounts on price mints so if you've got a price mint that's coming up you know this like real world galleries do this all the time they'll have the the you know the high roller collectors come in they can like buy the pieces before the show so do something similar if you have a generative collection or something like that people can come in and buy it early and then the third thing is do a monthly raffle so for a one of 1 and so that worked pretty well people are like okay that's cool that makes sense i'll do that and then you know for the consumer they're like okay this is i like this artist they're publishing work frequently like if i subscribe it means i don't have to chase down mints i don't miss mints i just get stuff airdrop to me so that's working pretty well but then what i noticed max jackson started doing is he'd be like oh i'm just gonna do an addition of 15 and it's only subscribers can get it but he had like 40 subscribers or whatever so it's like oh that's that's interesting like he's making it limited amongst the limited group to kind of gauge what is interest on this particular work how engaged are my subscribers so i thought that was fascinating we've also had a number of folks they've been talking to derek about doing a coffee subscription yep and a couple other people about doing like sears you did a gift box and so like you know have
way you could tie use shopify's integrations doing okay
that's what
like yeah because that's what i keep thinking about too is is and we we have this plan where eventually these will be available yeah but we haven't quite got there yet you know so in thinking about shopify and tying the nft token and either that's
how it would work
and redeem and that kind of thing with the token yeah so it could be like that like only your subscribers can redeem and get yes physical product
yeah yeah perfect another interesting use case which i think would be is kind of adjacent would be adjacent to gm farcaster is this kind of like npr kexp like public radio supporter where you're like you know if you get some status you get maybe like a coffee mug you get an nft but like you know it's really more about hey i'm just expressing my support i like whether doing
like essentially you wear the badge the pin if you would yeah yeah
and then you basically like one of the things you can do with a hyper subcontract is you can you can say you can specify the billing period so you would just the billing period instead of it being monthly would just be annually so you'd be like you know you have a $25 one a $50 one a $100 one each have a different set of perks
do an annual appeal like every hour annual appeal oh god i see this coming
you got a dedicated one
i see us doing this very soon yes mhmm
yeah so the drops was
do a a 24 hour telethon
do it
oh god adrian's gonna be like i was on vacation and and the professor and johnny decided we're doing a 24 hour telethon nobody tell her don't tell her let's wait and see if she watches the show so
the yeah the the idea with the drops was basically to be like okay where can i see the value of becoming a subscriber what you know there's this important question what's in it for me and every i think every offering has to answer that and so the drop the drop kinda tab is this idea where prospective subscribers could go and be like what do i get what has this person delivered in the past and then existing subscribers that's kind of the source of truth for the value of this particular subscription so yeah jud based on the interest so far i'm thinking like we should do it you know it seems like people are kinda psyched on it yeah and then the other cool thing
anything that you can make it easier like we can do that already but we have to build out everything right we gotta build up the shopify site we gotta you know so it's and it's not hard but it takes time so if somebody does it for me i'm more likely to go oh we'll just go use them so we don't have to do that part they're if you make it easier for us we're gonna obviously wanna support that because it'll just exactly makes our lives easy yeah and i think always thinking about what's in it for the subscriber is really important and we're always trying to think of like okay what else can we build value around give different benefits so love this this has been a great conversation and i yeah hate to cut it off but we are like we're like we're at 40 we did 21 minutes we're at 42 but i knew that was gonna happen so i was fully fully prepared for it we had a few other things i'm doing we're gonna drop them in the in the show notes so a few other links but there's one thing i do wanna talk to you about really quick and that is farcon yesterday ted posted going through farcon applications 1st wave of approval approvals come out february 6th and there is one overwhelming theme friendship and community the internet strangers to real friends pipeline is a phenomenon that is somewhat unique to farcaster we may grow out of it as the protocol scales so cherish the opportunity now and i loved that and i just wanted to you know i you're been you're a part of the far con team what are you excited about like what what in the planning has gotten you like so like i cannot wait for whatever it is like what's what's what are you looking forward to with this
why should let me ask it a different way why should somebody go to far con
yeah yeah i mean it's it's it's an obvious and simple answer which is just to see your internet friends in real life like
right
it's a it's a simple value proposition but like it's kinda magical and it's surprising and it's delightful and it's like i'm i mean the first far con was like there were like real bonds made you know what i mean like it was
adrian and i are we started this
yeah
like and this is growing fast and we did not like think this train was gonna take off this way but
yeah we had to get a car pump
this wouldn't have this wouldn't have happened
so yeah there were there were like business deals done there were cost new customers there were new projects forged there were new ideas i mean i remember everyone was saying to dan channels channels channels channels is gonna be the thing like so johnny specifically avoided me at far con and i think that's that's that is that too whoop too whoopie that's not true that is so not true i didn't even recognize him until the last minute and and then i was like yo so yeah anyway that's my answer you know it's the magic of seeing your internet friends in real life it's powerful it's fun it's engaging and also too like ted has put an enormous amount of thought in the programming yeah so i think there's gonna be a lot of really fun like activities and interactions that kinda like are you
going surfing are you going surfing yes
are you
don dawn patrol dawn patrol surfing with nonlinear apparently apparently apparently and then right after you can go slide over to noun's copy and come in for a live taping of gm farcaster at 8:30 so there you go come right back
last time i was in la i had a little preview i i got to go to that that coffee shop and see it so i'm super excited for that
wait i can't wait alright i have a few other questions for you these are the lightning round questions okay like 5 these are from these are adrianne some are her usual ones so i wanted to i wanted to tap into them 1st online friend who is your first online friend like where did you meet them do you remember woah this is a question she asks everybody and i kinda love it
damn oh
my first online friend maybe was like whitney hess she's a she's she used to be a ux designer she does like coaching stuff now but she i connected with her through the event apart series that jeffrey zelman used to run they have like a book apart like a publishing they do a bunch of stuff on like web design so i was doing front end engineering
oh cool
that was probably like the first person who i like met online and then we became like real friends like in the real world
oh interesting yeah what's your favorite channel i already know this answer but we'll let you put it out there
yeah it's gotta be memes
it's gotta be memes that's fine
i you know even it's second even to my own company channel
like i knew that you were gonna say that obviously
yeah
soccer or football big controversy
well you have to go with football do you know it's the global standard you know i mean there's a part of me that wants to be like you know i'm american i'm like a soccer
i know you're you're just you're just turning your back on yeah usa usa kiwi skin on or off when you eat it
on on
okay yeah and last one if you were a benevolent dictator for warp cast for the day what would you do
channel subscriptions
channel subscriptions yes
yes on the
hyper sub fun
built on built on yeah
yeah built on the hyper sub and integrated in hyper sub i would love that that would be
this i've been i've been pitching them this for months which is which is use warps to subscribe to a channel
love it i love it i love it i love it so thank you so much love that you were able to come on thank you all in the chat for hanging for our extra extra time today we're we're rethinking our our strategies here because we we definitely love spending more time with guests so we're gonna do like a regular show that's just our 21 minutes and when we have a guest we're just gonna assume that we're gonna go long because we don't we want i love that get the most of it
i think i love that i i'm just we got a
lot of things we're gonna play around with yeah so we have people who wanna be our correspondents it's it's really been kind of fun this week in particular has been extra fun but we have people like you know wanting to jump in as correspondence for all kinds of things so it's kinda funny so we're gonna we're gonna play around and have a lot of fun with this i do have to shout out really quick our subscribers our supporters our cup of supporters and that's monkeylinks taipa ajupan ajitupan yes to crypto wake lens post and justin on who is this week's clp and his his project quidly q u i d dot l y go check it out we have a bunch more about that in our weekly recap from last week and next week we have something really fun with farchiver and artlou so that'll be more on throw on that on monday so we'll be back on monday thank you so much johnny this has been awesome adrianne's gonna be mad she missed it but she can listen back she can listen back and we'll be reaching out to to figure out some things with hypersub i think we're gonna experiment with that in february so more to come thanks chat we love you and onlyfans no no onlyfans but now onlyfans is a whole other thing that's coming that that only comes should eth go to 0 that only gets activated so anyway thanks everybody and we will see you on monday thank you again johnny
bye bye everybody thank you bye
see you