Nate Maddrey

@nmadd

270 Following

570 Followers

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I made a new Dune dashboard to track the amount of dry powder held by Farcaster users, in response to @dwr.eth's recent bounty Check it out here: https://warpcast.com/emptyblock/0xf3db8542

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peekaboo 🙈 https://youtu.be/cbHkzwa0QmM?si=35zvqNDN2b7xqzSt

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I was curious how much Jesse has been promoting these different creator accounts, so I ran a Dune query This chart shows the amount of Jesse's casts that referenced Zora compared to all of the other accounts he tagged

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same shit, different century https://youtu.be/jaN35ziTW2I?si=86AOogDoxXmzyXnq

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The reality is, there is a disconnect between what Jesse and the base team are pushing and what is actually happening onchain. If you look at the data there’s very limited interest in content coins outside of the coins that Jesse and the Base team created. And those coins trade just like memecoins, despite what Jesse is saying. From the outside looking in “content coins” look strikingly similar to memecoins, just with a new coat of paint.

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A lot of discussion about content coins so lets look at some data This chart shows the daily trading volume of the top Zora coins. The top two by far are: 1) Base is for everyone - created by Base 2) what are coins even good for? - created by Jesse Pollak These two coins account for over 40% of all-time trading vol

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Right, but there’s a fundamental difference between content and markets that is going unacknowledged Adding a coin to content is basically attaching a market to it. And we do not need infinite micro markets to tell us that the median internet post is worthless There seems to be a disconnect between theory and perception here. Pushing financilization of everything turns people off and pushes people away, especially artists and creators Just because there will be infinite tokens doesn’t mean we should be actively working towards that. In the early days it’s crucial to focus on high quality content, not spamming worthless tokens

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Saying “we should tokenize everything” is basically saying “we should tokenize the long tail of slop” But the problem is, the long tail of slop is effectively worth $0 In fact, it’s probably worth less than $0, because it creates a lot of noise and distracts from higher quality content And we don’t need to attach a coin to low quality, low effort content to know that it is worth $0. There’s enough garbage content on the internet already, and it’s only growing How can we work towards incentivizing higher quality content, and empowering creators with the tools they need?

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I think this is a big part of why there is so much backlash to the idea of “content coins” The teams pushing them are solely pushing the coin part while basically ignoring the content. And let’s be real, most of the content is basically garbage If they continue to aggressively push tokenization while ignoring the actual creators they’re just going to isolate the community and turn people off

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A chart to watch: BTC returns compared to gold and tech stocks (QQQ)

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"build something 100 people love" cool new mini app by @igoryuzo.eth that uses @emptyblock data to show why Farcaster is the perfect experimental playground for devs and creators

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Fantastic piece Great insight about VCs, which I think also applies to retail investors: “Co-investments tend to increase during periods of mania as funds are looking to deploy more aggressively. VCs rely more on social signal and less on due diligence during periods of mania. During a bear market, funds deploy cautiously and often alone due to lower valuations.”

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Does anyone know if there's a way to get a list of Warpcast wallets in Dune? I tried just pulling the most recently connected address for each user (after wallets started rolling out) but there are way too many false positives Also tried going back through @v's casts announcing the wallet roll outs and then matching those timestamps with address verifications, but am still getting inaccurate data cc @rish @neynar https://warpcast.com/igoryuzo.eth/0xbbc8e40a https://dune.com/queries/4945252/8183328/

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Markets may be down, but in the wise words of Pitbull: “This the last twenty dollars I got But I'ma have a good time ballin' tonight” https://open.spotify.com/playlist/4nHLqpsFpyarJOPgn5mTul?si=UAJvxFqfSnahF7YJzjmTMg&pi=MUJPeF-dRdm7j

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Reminder to pwease say thank you before posting anything about the market today

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It’s a pivotal moment for bitcoin. The big question is: are people going to continue to treat it as a risk asset, or are they going to start viewing it more as a true “digital gold” independent store of value? Since 2020, BTC (and crypto in general) has been highly correlated with tech stocks, signaling investors have been basically treating it as a risk asset. But of course that’s counter to the common narrative that bitcoin is “digital gold.” This is important because gold and tech stocks have been going in very different directions recently. If BTC is more like gold, it should be holding strong. But if it’s more like a tech stock, it should continue to crash with the rest of the market. It’s also important because the macroeconomic significance of gold is potentially shifting, largely thanks to Trump’s tariff policy. More info here: https://x.com/CryptoHayes/status/1908410144184295455

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🔥🔥🔥 https://youtu.be/DmK4qSml9V0?si=OfeUeA2FhDacxu0c

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That $47M held in stablecoins is looking pretty good right now...

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So much winning

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Base revenue recently passed $100M over the last year Which is more than Optimism, Arbitrum, zkSync, and Scroll revenue combined

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