Podcast Summary
The podcast delves into the world of social apps in the crypto space, focusing on friend.tech, a social app that allows users to join paid groups and access exclusive chats with crypto personalities. The hosts also discuss other social apps like Farcaster, Stealcam, pump.fun, and fantasy.top, and explore the concept of web3 social. They share their personal experiences with these apps and discuss their potential for future innovation.
Key Takeaways
friend.tech: A Fairly Distributed App Token
- Unique Distribution: friend.tech is the first fair launch with an actual product that is venture-backed. The distribution of friend.tech tokens is unique, with no tokens allocated to the team or investors, making it a fairly distributed app token.
- Bonding Curves: The hosts discuss the different types of bonding curves in friend.tech, which determine the price of the keys needed to access the paid groups.
Web3 Social: A New Vertical in Crypto
- Definition: The hosts define web3 social as consumer apps that have core features that rely on crypto and couldn’t exist without it.
- Comparison: They compare different social apps like Farcaster, Stealcam, pump.fun, and fantasy.top, highlighting the importance of crypto-native features.
Steely Cam: A Crypto-Native App
- Unique Features: Steely Cam, created by Racer, is a crypto-native app where users take pictures that are minted as NFTs and can be stolen by others, creating a speculative and fun element.
- Core Feature: The core feature of Steely Cam is very crypto-native, with elements of stealing, financialization, and fun, making it an exciting app for crypto enthusiasts.
Fantasy Top: A Trading Card Game
- Gameplay: Fantasy Top is a social app that functions as a trading card game where users pick characters from crypto Twitter and earn winnings based on their engagement.
- Growth: Fantasy Top has already seen users making money and gaining popularity, indicating its potential for success in the crypto social app space.
pump.fun: A Platform for Launching Meme Coins
- Functionality: pump.fun is a platform for launching meme coins, requiring liquidity and offering a deck screener page for token launches.
- Democratization: pump.fun is a platform that democratizes the launching of meme coins, allowing users to launch their own coins for a small fee.
Sentiment Analysis
- Bullish: The hosts express a bullish sentiment towards friend.tech, Fantasy Top, and pump.fun. They believe that friend.tech has unlocked something unique in the crypto space and are excited about its future developments. They also see potential in Fantasy Top as long as it can address any botting problems and make the game feel natural. They believe that meme coins aren’t going anywhere and see pump.fun as a long degeneracy bet.
- Bearish: The hosts express a bearish sentiment towards Farcaster, stating that they’re not excited about it and find the product uninteresting. They’re skeptical about the different Farcaster clients and don’t believe it will be a super interesting product space.
- Neutral: The hosts express a neutral sentiment towards the overall crypto social app space. They acknowledge the potential for innovation but also highlight the challenges, such as determining real usage versus people farming airdrops.
