warning: this is another hot garbage basil take

FT was DOA; if you’ve been around for a few years, this probably should have been obvious to you

socialfi biz model is literally “pay to make 100 firstmovers (so CT influencers) richer” 

its fundamentally a pyramid ponzu hiding behind new branding with new promises; it’s the very reason why people leave crypto & why so many others hate it 

they’ve been trying this same model since 2014; there was even ones on btc 

so word of caution to those who are tossing this onchain onlyfans idea around: its been done 10 times before & has failed every time 

(also can we pls stop investing in people just because they’re an “it” person on twitter…. and perhaps, invest in… good ideas?)

this, but for every single scenecoin/tipcoin launched on farcaster (yes even your favorite one)

Full-stack digital product consultant @ BoundCorp.net - eng @daylight