HAM🍖 Chronicles #2

Welcome to the second edition of HAM🍖 Chronicles!

A daily newsletter that covers the growing HAM ecosystem on Farcaster, where I track and investigate the most exciting and crazy Ham-centric stuff. Today's issue is a deep dive into the concept of Floaties 🦄

Brace yourself Ham lovers, It’s going to be a wild ride 🎢

🦄What Exactly Are Floaties?

Floaties were introduced recently by the HAM team on Warpcast as part of the ongoing social tipping experiments. However, only a few folks understand what Floaties are, or even realize how much potential they hold. This piece is a venture deep down into the rabbit hole, analyzing its operation logic, and the opportunities they hold.

Simply put, Floaties are emojis that are backed by real money, and can be gifted as comments on social media posts. The receiver of the Floaty is paid within minutes. As the name implies, Floaties depict the idea of “floating payments” on social media platforms.

Floaties further expand the bandwidth of social tipping experiments that took off recently on Warpcast. The entire experiment is aimed at rewarding quality content on Warpcast. By dropping the Ham emoji as a comment on posts that you like, you reward the receiver (creator) in a big way — this costs you nothing. Ham tips are backed by the social token $TN100x and have real value for those that receive them. You can earn an allocation of Ham tips by posting engaging content in the Ham channel on Warpcast.

Floaties act as tips within the Warpcast app. You can simply comment on a post within the app using the emoji representing your floaty and the tokens backing that floaty will be automatically sent to the recipient!

You can comment a single emoji or you can use a multiplier. Here are some examples:

🦄 = 100 $TN100x

🦄🦄🦄🦄 = 400 $TN100x

🦄x4 = 400 $TN100x

While Floaties are currently in Beta, and are currently only supported on Warpcast, they actually create a fun and engaging way that makes it easy to send small amounts of currency to content creators and friends —all supported by crypto and blockchain. Floaties actually unlock a use case that has been widely speculated for a long time in Crypto — Microtransactions!

The Bull Case — Micropayments

If you’ve been around the crypto industry for a while, you’d have heard of micropayments at some point. Microtransactions/micropayments have been talked about for years, particularly on how cryptocurrencies are well suited for these kinds of payments.

What Are Micropayments? Micropayments are small transactions (can be less than a dollar or even a fraction of a cent) that is made online.