Coop

Saw a lot of talk on the CT timeline today that "fundamentals are bearish" and honestly this makes a lot of sense.

When you value something based on its cashflows (onchain or offchain) - it's easy to put a ceiling on it.

Virtually all memecoins have no cashflows - which let's people's imagination run wild.

Onchain is the new online - FID 206 -  cooprecords.xyz

This made me think a lot about the way we're building @cooprecs 

I used to think that if we could prove we have enough onchain revenue - people would think highly of the brand.

Now I'm realizing that no one (for the most part) cares about onchain revenue.

They care about supporting a brand they know and trust.

This is one of crypto's biggest strengths and its biggest weaknesses.

Most financial bros do not take crypto seriously because "its all made up".

But the lack of fundamentals actually creates net new market behaviors on how to value psychology and attention which we haven't *really* seen before.

It's ironic that some of the same people criticising crypto for the lack of fundamentals have invested in 'real world' tech startups with no clear path to profitability