Podcast Summary
In this podcast, the founders of Fantasy, Mikado and Kipit, share their journey in the crypto space, discussing their product development process, the importance of user feedback, and their creative marketing strategies. They also delve into the shifting trends in the crypto market, emphasizing the growing focus on consumer products and the role of infrastructure advancements in this shift.
Key Takeaways
Product Development and User Feedback
- Importance of Iteration: The founders of Fantasy emphasized the importance of quickly building a product and iterating based on user feedback. They learned from their past mistakes of taking too long to build a product and talking to users before building it.
- Embracing Speculation: The founders found success by embracing the fun and speculative aspects of crypto, focusing on building what users actually want rather than imposing their own ideals on the market.
Shifting Trends in the Crypto Market
- Consumer-Focused Products: The founders noted a shift in the crypto space towards consumer-focused products, enabled by projects like PageRank and Friendtech. They believe that the success of consumer products like Fantasy Top shows that crypto is becoming useful for real-world applications.
- Infrastructure Advancements: The founders highlighted the role of infrastructure advancements, such as layer twos and improved onboarding, in the success of consumer products. They also noted the contribution of Solanaโs low fees to the popularity of consumer-focused crypto products.
Expansion of Fantasy
- Integration with Social Media: The founders discussed the potential of expanding Fantasy beyond Twitter and into other social media platforms. They believe that the concept of fantasy resonates well with non-crypto users and can help increase user engagement on these platforms.
- Scoring System: The scoring system for Fantasy has evolved through iterations, focusing on factors like reach, interaction quality, and follower authenticity to ensure fairness and accuracy. The ultimate goal is to create an incentive layer that can be added to any social media platform.
Sentiment Analysis
- Bullish: The founders expressed a bullish sentiment towards the future of Fantasy and the broader crypto market. They are excited about the shift towards consumer-focused products and believe that infrastructure advancements will continue to drive this trend. They also expressed optimism about the potential of expanding Fantasy to other social media platforms.
- Neutral: While the founders are bullish about the future, they also acknowledged the challenges they face, such as the fight against bots and the need to manage inflation in their game. They are taking a measured approach to these challenges, focusing on continuous iteration and user feedback to improve their product.
