teddit

if you spend any amount of time playing around with consumer apps, you will recognize there are endless pseudocurrencies used to drive engagement and retention:

coins in Duolingo, Reddit karma, TikTok gifts, robux in Roblox, gold bars in Candy Crush, bits in Twitch, stars on IG, etc.

almost all of these can be bought with fiat.

a few of these let you cash out as a user (e.g. creators can redeem tiktok gifts for  or cash out robux via devex).

and none of them natively allow peer-to-peer trading of their pseudocurrencies.

and people love them and buy and spend them daily.

🤔

helping build farcaster | surfing @ venice, ca | eating @ gjusta / gjelina | “lucky me, lucky mud”

> and none of them natively allow peer-to-peer trading of their pseudocurrencies.

regulatory is the primary blocker

Working on Farcaster and Warpcast. Longer thoughts at https://dwr.email

yes, and then how many will choose to keep it a closed system vs. open system?

if regulatory is primary blocker, then it allowed them to grow a robust, loyal base of users who like the product for what it is vs. a financial market

100% agree. Regulatory has formed a walled garden for their ecosystems. Roblox doesn’t want you swapping out to a Minecraft token, and Fortnite doesn’t want you taking your skins to CoD