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David Furlong
@df
The way many crypto projects become valuable is by enabling others to build new speculative assets on them, attracting bots and incentivized whales. This generates numbers that seem impressive, but are largely meaningless (N million DAUs/TVL here). The DAUs are bots, the TVL can exit easily and is here for a quick VC fueled APY buck. This creates press and hype on twitter, causing real users and projects to join. The products are usually disappointing (the impressive numbers are often smoke+mirror), and projects and users mostly churn/take the L. Repeat
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Chinmay 🕹️🍿
@chinmay.eth
For a second I thought you were explaining the banking system.
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Liang @ degencast.wtf 🎩
@degencast.eth
Just found out this OpenSocial Protocol with a impressive 130k DAU https://dune.com/opensociallabs/osp
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Corbin Page
@corbin.eth
That's been the predominant crypto game since NFTs faded away. Same with infra juicing the numbers with quests and incentivized actions in hopes of a CEX listing as lock ups expire. Sad but true. Hopefully on its way out if we enter a sustained bear market though. https://twitter.com/corbpage/status/1831700918040993947
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Nick T
@nt
it has historically always been easiest to appeal to greed
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Bullers
@db
You ain’t wrong
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K
@kijijij
Do you consider Alchemy a crypto project ?
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kaitoren.eth
@kaitoren.eth
We democratized the database just like Instagram democratized photography. Understanding data and what makes data valuable is what sets apart pros from amateurs, serious from scammer. Facebook sells the data in its database to people who can USE that data. Almost every NFT project is literally just random data in a database with no app (besides marketplaces and wallets). Build the app first. Build the value first.
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