Jason Goldberg
@betashop.eth
“a lot of people have tried to apply web 2 product models to web3 and that’s failing. They’re focused too much on trying to manage and control tokens as utility like you would manage a web2 product outcome — and what they failed to recognize is that tokens are a new type of enthusiasm market, measuring more the meta sentiment about the product or the content than the underlying utility of it. Tokens are (currently) better at representing sentiments than utility.” — yat siu, animoca
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Jason Goldberg
@betashop.eth
He went on to also say that, of course, that also makes it harder for tokens to sustain value as people shift their attention to the next meta
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BrightFutureGuy 🎩↑Ⓜ️
@bfg
fair observation - but also a bit of an excuse - if there was a real utility, then the token would keep the price at least in the "alive" range
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0xZara.eth🎩
@0xzara.eth
Yep, spot on. Right now, the meta sentiment behind tokens is shaped by a small group of very online people - easy to sway, easy to spin. But in a truly global onchain economy, sentiment should reflect the broader world, not just the loudest rooms. Until we get there, the mission is simple: build better experiences and keep bringing people onchain.
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Shanzz
@shanzz
Then why don't builders focus on building long term value than "meta" "hype" . Focus on creating world. If ppl only worried about share price one would end up like GE focus on short term meta and long term destruction of their unique engineering capabilities. I guess mindshare is cool but focusing too much on it one would better create pump.fun
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NationofDegeneration🎩🌿
@tanwenbrantley
Very astute observation. Tokens do gage the meta very well. When it loses popularity, or people move b onto the next Shiney thing, they value attributed to one token begins to fade away. (Which is problematic to those left holding the bag) In the context of web3, As a Farcaster user with a relatively low FID (365k or something) The tokens had great communities...We eventually saw which projects were there to experiment, build and see what happens vs the purely extraction ones. After some time away from Farcaster, there are new Metas I'm not really aware of or vibe with. I would really like to see some of the Farcaster "Staple" tokens make a comeback. Know if this talk was being recorded?
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Richard 🎩 🔵
@richardleighton
Well said! 👏
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IAMAI
@iamai
Exactly. In web3, the utility is often the social energy itself—the purest form of which we see in memecoins. Proof: nobody invests in 'useful' utility tokens because they believe in spreadsheets.
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