Mkkstacks on Warpcast

Stephan pfp

removing the cost for real users to join and contribute to the network is an existential problem farcaster needs to solve most people don't pay for social media - doesn't matter if it's $1 or $10 - it's not something they're used to this is also an existential problem for apps building on farcaster

18 replies

3 recasts

35 reactions

baubergo pfp

This is interesting. We’re accustomed to “free” web2 solutions, but they make money through shady, non-transparent methods. Web3 solutions, on the other hand, change that dynamic by charging you upfront and offering a chance to earn money on their platform. Unlike web2, where 90% of users end up paying just to stay visible, web3 provides a more transparent and potentially rewarding experience imo. But yes, the start (change of behavior) is always a very friction problem.

1 reply

0 recast

3 reactions

Stephan pfp

i agree that incentives are not aligned in web2 i disagree that an upfront fee is the way to solve that (it's also not working for twitter/X) i also don't think people join social networks to make money

1 reply

0 recast

4 reactions

baubergo pfp

I don't think that's the way too. But I do believe it's more transparent tho. People always join social networks to make money, indirectly. Initially, people might have used Instagram because it was cool, but now it's primarily a platform for advertising. Whether for companies or personal brands, it's how we market ourselves these days.

1 reply

0 recast

0 reaction

Stephan pfp

all of my friends use social media and none of them are making money there are tons of other sources of value in social: entertainment, learning, discussing niche topics, meeting new people

1 reply

0 recast

1 reaction

baubergo pfp

But your friends are not a statistic (unless you have thousands of friends 😂) I agree that most people don't make money there—90% at least. But they're there because a few do make money (all sorts of influencers). People consume influencers' content because the influencers make money through the platform. If they weren't, they wouldn't be there. And if they're not consuming content and are rather creating content, they're aiming to make money or transform views into clients, whether they're companies or personal users wanting to build their ´´brand´´. I have an audiovisual company, so I work with this daily, btw.

2 replies

0 recast

0 reaction

Mkkstacks pfp

Interesting conversation. I joined earlier social platforms to build credibility and a following that would translate into money spent on my products. I joined FC to find a crypto community. Making money from knowledge gained was expected but a secondary focus. But the social aspect keeps me around. Without an enjoyable experience, I would have moved on. This is the only social app I use regularly. As FC evolves and the path to earning becomes less burdensome, I think the join fee would be worth it to many more. Especially, if behavior doesn't have to change much to earn. My first fee was reimbursed by coinbase wallet. Not sure when I might have joined otherwise.

1 reply

0 recast

1 reaction

baubergo pfp

The problem seems to be the initial friction. Web2 users find it absurd to pay even 10 cents to use a social platform, yet they willingly pay $10-$20 monthly for apps like CapCut and Canva, which are often used to create content for Instagram 🤷‍♂️

1 reply

0 recast

0 reaction

Mkkstacks pfp

Touché. I'm paying monthly for Canva. 😄 I'll continue paying to play here too.

0 reply

0 recast

0 reaction