To understand $Degen, you need to understand Farcaster. The meme coin of Farcaster disguises the absurd levels of influence and power this token would have. On paper, Farcaster is an interesting decentralized social project. Imagine if your profile on Facebook or Twitter was public. Along with your friends/followers lists and posts. You could build your own Instagram and immediately have everyone on Facebook and Twitter already be in your app. No need to get users from scratch. If a user comes, they bring everything with them.
Imagine building your own Instagram, making some changes like time limits and sharing it with your friends. Imagine it becoming bigger than Instagram. Or someone copying your idea and making changes. It’s all fair game. The underlying data is public. There is no company in the middle holding ownership. No one to shut it down since it exists in hundreds maybe thousands of computers around the world.
It’s a new world view of social media. To me it’s inevitable. But even that isn’t what makes Farcaster so special. That alone would be enough but it misses the magic ingredient. The thing that makes Farcaster feel like wonderland. The people. The community.
We in Farcaster love Farcaster. We LOVE it. It’s a magical place to meet all kinds of wonderful talented people. But more then that there is a desire in everyone to contribute to and help Farcaster and our fellow casters grow. We understand this is the future and we’re surrounded by people who also understand. Being surrounded by builders and thinkers and artists who have an optimistic view on what the future could be. Who care deeply about helping each other and the network.
Crypto was one of the central pillars that made all of the above possible. However, our beloved network didn’t have a token. For good reason. There was no point. There was no point in building it to attract airdrop farmers. However, a lot of the builders are in crypto and so it was natural there was a side that was missing. Regulatory clarity being missing meant the founding team couldn’t mess around too much with experimentation in this area.
So you have this network that cares about each other, that is full of builders and entrepreneurs. Some even very connected with the top organizations and teams in crypto and tech. You now give these people their own token to play with. I can’t speak for myself, but I’m looking to spend my tokens on projects built by other casters. I’ve seen lots of casters excited to build stuff for $Degen.
Not to mention the tokens were airdropped the vast majority to the above community. To people who care deeply about Farcaster.
I hope you can see all the ingredients in the above post. Something magical is at work. The $Degen experiment is just beginning. The future of Farcaster hasn’t even left the ground floor. When it does, everyone will be watching. This is the future. It’s an exciting time. If you’re reading this and not on Farcaster yet, it’s time to fix that.
See you onchain anon!
P.S. You can read more about $Degen on the main site: https://www.degen.tips
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