JD

@darkstar

63 Following

2111 Followers

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consumer crypto's asymmetric upside is its intersection with another (massive) secular trend. like AI. & like we've seen with finance.

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gn. https://youtu.be/U0nlEcKSjmY?si=hIer_-IKht66OO-3

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apps are taking > 50% of the global blockchain fee pool (SOL + ETH) & we're still debating consumer?

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Just as private data lock in drove web2 product development, perceived liquidity lock in has led to web3 consumer use cases developed to optimize for economic capture over value creation and ephemeral experiences over durability. While network liquidity is essential for transacting, recent infrastructure advancements have made liquidity homogenous, removing its strong hold on applications. Now that data and liquidity are not the moat, applications must be in service of the user, not the chain.

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a code to code media model.

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'24 Sturgill Simpson is like '01 Jack White. "Oh you all forgot about rock and roll? I'll show you fucking rock n roll." Carrying it on his back. https://youtu.be/vexOpL550mA?si=pB_1qyuN-KyTVyr_

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the next media business model is code to code. & crypto is on one side of that equation.

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Skeptics undersize the TAM of Consumer Crypto because they fail to acknowledge the second-order effects of blockchains. 👇 https://x.com/jonmoore202/status/1836893215116443969

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def can target based on Geo but not as limited with the model based on geo

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crypto is a universal, global business model. most apps/products today need to target based on Geo-- factors include discretionary income, credit cards, payment support. Display & mobile products have different features & restrictions on their model not crypto. & that's the TAM

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... & i was there.

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blockchain's big unlock in consumer is providing services to individuals that were previously impossible or prohibitive. the tech NOW makes it available. i think that's why we'll see an explosion of applications integrating & leveraging stablecoins, w/ a focus on global first.

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one of those songs that you gloss over or scroll past & then months down the road, your buddy sends it to you and you're like "this is amazing!". so don't waste time & just press play now. https://open.spotify.com/track/3cY2nHVVX2ZER1ttxGzLav?si=909220592f8a4daf

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Such a good one.

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an everyday guy going to work. just like us.

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the challenge of consumer applications & experiences in crypto can be attributed to who these companies are building for -- mainly developers. & if you build for devs with hopes that they will build for consumer, you still need to understand consumer GTM, product and models.

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most crypto cos should have vastly different metrics that drive their success. each company should define their own lead metrics, and measure against those -- vs. today, measuring against industry-wide KPIs. lag metrics lead to building short term capture, lead metrics drive towards product durability.

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id argue it's a garmin and we don't have the iphone yet. current focus has been incredibly limited and servicing customers seeking a specific product purview.

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"optimizing for value capture today feels premature." https://hackmd.io/@mikeneuder/ethesis

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