1 Billion Dollar Evaluation for Farcaster/Warpcast | Issue #66

GM GM.

Finished up editing my podcast with OMGiDRAWEDit, I will be dropping this episode on Friday am. This post will be free to collect onchain via Pods, so make sure to collect it as I will be using it in the future to do an airdrop of art for those that have collected podcast episodes (shh). From there I will be dropping an artist feature piece with Lex Doom on April 17th.

I will be heading to NFT NYC this year so I will be there the rest of the week. may be in an out of focus while socializing but I will be giving a recap of the event on next weeks issue. I will also be sending an update on other artists I am working on for their artist features and I have some companies as well.

The 1 month challenge for a free Tiffatronn and a free copy of a Web3 book has concluded. And Macvynls did not hold back with Seattledog. Congrats to both, I will be reaching out and sending shortly.

Lastly, working on a 4/20 mint as some of you may know, it was invented at my high school here in Marin and the guys that invented it, one of them was my football coach in high school lol. So it is a special event/day for me.

My work has been requiring me to go in five days a week now, which blows HARD. But on the bright side (I guess?) I get to listen to more podcasts during my commute. I finally finished this epic episode by the Acquired team and I think if you live in the USA and you want to learn more about how our healthcare and pharma industries work, than this episode is highly worth a listen. If you can’t listen to it all, Snipd which is a tool I use to digest more data, can provide AI summaries.

This past week was a spicy one for some. $DEGEN claim periods began and the price of degen has 5x in less than 7 days. For context, for me literally posting my content just like I did on Twitter but instead I did it on Farcaster, I was able to gain over $1,000 in tips. And if that doesn’t make a Las Vegas stripper jealous, then I don’t know what will. There has now been a flurry of people getting into Farcaster now and we welcome our brethren into the fold, just be aware, that chasing gains or free money never works out. Just be yourself and you will get tipped, when you try too hard people can tell. That is probably why I suck at premium content lol.

Speaking of $DEGEN, similar to how last week I launched payment of a subscription via DEGEN, now Zora, one of the largest platforms empowering creators to mint, has also enabled artist to choose to get paid in any ERC20 token, including DEGEN. I personally think we are going to see more people creating their own ERC20 tokens, especially after what Sartoshi did with his mfercoin. And if you had previously created an ERC token on MainNet ETH, last week I covered how you can migrate it to an L2, so we are truly going to see some shenanigans.

If Decentralized Gold (Bitcoin) market cap is over 1 trillion (1/15 of golds), Decentralized Visa (Ethereum) is over 433 billion (1/3 of Visa & Mastercard), then what would the evaluation of decentralized Twitter/Reddit be (Farcaster)? It turns out, 1 billion is the current estimate based on the most recent round of funding that Merkle Manufactory just closed. Merkle created Farcaster the protocol and they are the creators of Warpcast as well. A huge congrats to the team and well deserved, not just on the funding but also by hitting a new milestone of 70k+ Daily Active Users. And if you’re ever hiring a head of Legal Ops, your boy is willing haha.

Moving to the base side of things, things have remained hot and spicy the whole time. Uniswap recently passed 1B in volume on Base which is NUTS. But if you really think about it, using uniswap on base is dangerous, swaps cost pennies and it can get addicting to move around assets like that. Foundation will begin supporting Base as well later this week, confirmed by Rob. Which leads us to this crazy news but one that was accurately predicted by OG, and that is, we are going to start seeing 1/1 sales on Base now. First big one that I am aware of (unless you guys have seen different), being Neurocolor. It is starting to look like Base might become “The” L2 of choice.

Ripcache had a surprise drop this past week, titled Model Citizen. Surprisingly this was one of the rare times, I saw it really early on but passed up on it as I saving up for another piece by Rip that I will not disclose at this time. I really enjoy monochrome art and this one grabbed my attention but I showed restraint and discipline as I love me some ripcache pieces.

The Zealy.io word for this weeks read is, “basedgram”. Make sure to get in on the fun and giveaways.

Shoutout to Batz for this one. A Darkfarms piece sold for 18,888,888 $BOME (~$270k).

XCOPY has been selling like hot cakes this past week or in general really. Toxic Beast sold for 35ETH.

Proof of Work - Variant 02 - Yellow by Colide sold for 45ETH.

Bitmon 150 sold for 0.55 BTC (about 38k).

Shiro by IDerech sold for 7.5ETH.

Things I am looking forward to.

Coldie seems to be hinting at an ordinals drop here. With SuperRare announcing getting into Ordinals, he could be going through that or the Gamma Partner program. Either way, Colide on BTC, will be a hot one.

Blank Embrace hinted at a collab and we have more details now. I’ve been sitting in awe at the range that Blank has been showing in recent times yet still remaining distinct with his style. This collab piece is no exception.

We got not one but two previews of ZeroX’s latest pieces. The first one was his collab with Resonance Labs which comes in a really nice pink. But this upcoming SuperRare piece is insane with the teal and orange combo.

Can’t tell if this is an Aprils Fools joke or not, but Sam Spratt may be cooking something.

Doodles has partnered up with Mntge (which is a vintage blockchain powered clothing company) and the results are SICK. Vintage clothing has been having a bit of new life recently and many people are getting into collecting older shirts and denim and this partnership is unique and really thoughtful in my opinion. Between Gshock and this, I am starting to get a soft spot for Doodles now.

Looks like Menthols sent a letter to the creators of these dope shoes. I don’t smoke but these Cold Sins "Air Menthol” were HARD AF.

We all have a little hood inside of us.

Have a great rest of your week!

CIAHOAD-Rick James

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