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its been a busy week for me portraying Archangel Dickasus in an on ice production of Dickbutts on Ice at the Islanders Arena. Thank you to anyone who came to support the show and I'm so sorry to all my friends who broke bones that night in pursuit of the bit. we are so back. Lots of updates below and exciting new event announcement for those of you who will be in LA for FarCon!
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We’re excited to announce ‘Deploy on Degen’ week—in collaboration with Degen Token Base, 1confirmation, Syndicate, and others with over 10 million $DEGEN in grants for teams & devs. Apply to participate by Friday, April 12.
One of the most fascinating metas to me in recent weeks has been the value of being mimetic and evolving tactics for organic social token distribution. LGHT reflects on their journey with $higher, a scenecoin offering a refined speculative energy experience, highlighting the contrast with previous DAO structures. Traditional DAOs with complex governance processes and token-gated communities created barriers to participation and hindered network growth, whereas scenecoins focus on widespread token distribution to harness attention and awareness. Unlike membership tokens like $FWB, owning scenecoins like $DEGEN or $HIGHER doesn't necessitate active participation, aligning with the scene's expansion-focused ethos. Scenecoins, epitomized by $DEGEN or $ENJOY, thrive without traditional governance structures, and actually pave the way for more organic community-driven growth. I love this piece from James Beck on the power of providing something for all four types of aspirational consumers. In real time we're witnessing a paradigm shift in how we perceive and participate in the aspirational economy. It’s less about the individual art casted each hour to channels on Farcaster, and more about the derivative value of all their simulations. The value that scenecoins represent as an idea is dependent on is their own ability to spread. As LGHT describes it, “Higher is emergent, decentralized, and crypto coordinated. It has a memetic icon, a token, a channel, and a philosophy.” With the token model, tipping incentives on mint comments, weekly enjoy allowances, and erc20 minting, $enjoy is built to create a flywheel of more superfans that creatively output more work onchain to earn $enjoy, and thus further the virality of the concept.
Internet Explorers is a weekly rundown live stream where extremely online individuals broadly explore (romanticize, even) new consumer internet experiences.
Live & online Fridays at 10am PT / 1pm ET.
$Enjoy tipping
The evolution of tipping mechanisms has elevated the functionality of scenecoins beyond traditional memecoin launches, providing incentives for contributions to the underlying scene. $DEGEN pioneered tipping through tip comments, and we introduced an evolution tailored to the $ENJOY scene, rewarding holders with weekly token allocations for tipping creators on Zora based on their onchain reputation. The introduction of "tipping distribution rewards" further incentivizes tipping and decentralizes token distribution, fostering community-led initiatives and creative projects without the need for formal governance processes. This shift signifies a move towards DAOs where community-driven actions and decisions shape the future of the ecosystem.
Farcaster RFS
SC07 commenced with a notable surge in enthusiasm within the Farcaster community, accompanied by the assembly of a remarkably goated group of founders. Founders are increasingly recognizing Farcaster's social context as a fertile ground for incubating products, despite a lag in understanding from some VCs. Yet, Variant's request for startups emphasized opportunities in frame-centric clients, discovery algorithms, and other areas, reflecting ongoing experiments within token scenes. While ecosystem excitement momentarily waned, Farcaster's daily active users have rebounded to record highs.
Vibhu from Drip and Scaling Solana
Last week's show featured Vibhu from Drip, a platform simplifying onchain media collecting by offering free weekly drops for passive collectors and interactive games for more active users. With 150k DAUs, tens of millions of collectibles distributed weekly, and artists boasting over 200k subscribers, Drip has shown significant traction. Additionally, Vibhu highlighted the need for L2 solutions and rollups due to scaling limitations on Solana.
Solana is going to have and needs to have L2s and/or rollups.
I don't think these will manifest exactly like the Ethereum ecosystem,…
The token is the product
In his latest post, Mark Beylin delves into the critical role of tokens, showing how crypto founders chronically overvalue the go-to-market of their products, and undervalue the go-to-market of their tokens. He stresses how a founder's primary goals should be attracting sustained attention and liquidity to their tokens and converting that liquid attention into valuable products for their users. Using examples like airlines and loyalty programs, Beylin shows how successful products hinge on the symbiotic relationship between token value, attention, and product utility, advocating for a balance between meme-value and tangible utility.
Degen chain
These week on Internet Explorers we welcomed Jacek, ($degen dev), and Will (Syndicate founder), to delve deeper into its conception and progress since launch. Degen Chain has seen remarkable success, processing over 15 million transactions, boasting nearly 1 million active addresses, bridging around $60 million, and maintaining an average volume of over $100 million, ranking it among the top 10 chains overall by various metrics. This success has spurred significant interest in L3 solutions, with many considering launching their own or exploring the concept. While some criticize L3 solutions for not addressing Ethereum's scalability issues directly, proponents argue that they offer social benefits by aggregating passionate communities and providing tangible platforms for informal networks. The emergence of L3 solutions also introduces narrative benefits, such as scenecoins becoming gas tokens, further enhancing the product experience and community engagement. With $DEGEN as its native gas token, it's attracting attention from projects like Drakula, Perl, and Bracket.game, who see benefits in using it as their in-game currency.
Watch the full episode:
We're excited to announce FREE WIFI on Saturday, May 4. Join us for an exotic unconference style exploration of /CONSUMERCRYPTO during FarCon in Venice, CA. A full day (and night) of festivities including workshops, panels, product activations, drinks, art, music, enjoyment, sunshine. A Seed Club Production brought to you by our friends at Slow Rodeo, Archetype, $Enjoy, and more! Apply to join us.
We're hosting FarCon’s Welcome Party on a rooftop in Venice Beach on May 1st!!! A curated, multi-day experience, FarCon is designed to convene, connect, and celebrate the driving forces behind Farcaster's ecosystem. Get your pass.
You’ll be leading a team of 3 world-class engineers to bring your ideas to market.
You should have a very small blog or podcast where you already share your ideas that we can review.
DMs open
50+ incredible creators who posted 3+ videos on Drakula last week have been airdropped 20,000 $DEGEN directly to their wallet → drakula[.]app
Missed out? Don't worry, there's always next week!
Apply through the cast below to start…
TestFlight Club is the best place on the internet to get high quality feedback from over 100 highly curated early adopters. Avoid the Airdrop hunters and get your pre-launch product in front of real humans who give real, valuable feedback. Submit your product here.
The core focus is to support founders with high-quality early usage, feedback, and insights. We’ve shared early looks at … Drakula, Forage, Crypto The Game, Seam, Revel, CoLinks, Sperm Game, newcoin, t2, Sona Stream, Daylight, Focus Tree, Receipts.xyz, DrawTheChart, Lore, Yup, Gallery, Revise, and more!
Want to join the Club? We're slowly opening the doors to new members.
