Ignas | DeFi
@ignas
Amazing how many once hot & high potential crypto experiments failed. Just a few on my list: - Fractional NFTs / ERC-404 - NFT lending - Music NFTs - Elastic supply tokens/stablecoins (although $AMPL still alive) - $YFI style 'fair launches' - (3,3) - Move-to-Earn (and similar Earn slogans) - Two-token model (Bera might be last to try it) - Algo-stablecoins (UST but sUSD depegged despite 750% col. ratio) - "Stable asset" controlled by interest rates, not pegged to fiat: $RAI - Stables backed by Protocol controlled value (PCV) like $FEI. (Olimpus DAO keeps similar Protocol Owned Liquidity (POL) idea alive.) Failure is part of innovation. And crypto is amazing as we experiment a lot. Perhaps those ideas were ahead of their time, like YouTube was before adequate internet speeds.
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Ignas | DeFi
@ignas
Still, I feel innovation in tokenomics and demand for complex mechanics have declined. The UST collapse gave us PTSD. Experimentation still exists. e.g.: - Berachain's Proof-of-Liquidity (PoL) -> Chain-Owned Liquidity (COL) - Intia's Enshrined liquidity - Internet Capital Markets - Memecoin launchpads: Boop, pumpfun - L2s Remember that experimentation is great but don't marry your bags and the latest hot trend will likely fade away.
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Kent Babin
@kentb
Sweatcoin has done pretty well in the move-to-earn category. 192 million users, or so its website says. Can also add bridged carbon credits to the list. I'm genuinely surprised fractional NFTs didn't take off, but I guess the launch coincided with the bear market.
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Fantomas7x
@fantomas7x
yeah. Breakthrough in terms of failure experiences.
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megabyte
@megabyte
Learning from other failures 😅 Though I still think the actual “art” content should be in form of NFTs instead of ERC20
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