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proxy
@proxystudio.eth
Category: /higher Essay: The Token/Vibe Paradox Author: @lght.eth Tags: down-bad, up-big, wat-do Notes: I've thought a lot about this, and not just because Merc Cap acquired what was once a significant higher position and is now the single worst trade I've made (personally, or with merc) of the cycle. And I didn't even buy the top! Heres what I think: higher is thriving culturally on Farcaster. Its an aspirational brand, one of the only ones we have that feels cool. That is so rare in crypto I'm going to type it out again: higher seems cool. In a lame industry (speaking objectively here, not personally) with lame brands and lame tokens with cringe aesthetics, higher pulled off the impossible. But its not yet cool to enough people. 1/2
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Dave Shake
@daveshake
Builders' building is good, but what I've learned with tokens is that it needs to be builders' marketing. In this market, it's PvP at every level. KOLs to teams, devs to retail, etc. - just secure your bag and get to the next hit. The only real winners are the KOLs who are selling to retail and taking from devs. 1/x
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Dave Shake
@daveshake
2/x Not to mention the relentless feed of attention you must produce to keep a project looking alive and popping. Daily, if not hourly, drip feeds of content just so a project doesn't send the wrong impression of wilting. Narrative brings community. Higher has the former in abundance. The brand is strong, the community is there. But an important part of the equation isn't there. Perceived value.
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Dave Shake
@daveshake
So, I agree. In order for token go up in the short term, crypto people need to have a reason to believe in Higher. Most of crypto-normie sentiment is controlled by KOLs. These KOLs either shill for Eth or are great at picking and creating the next narrative to push (or both). So, a brand strategy that features the KOLs that crypto KOLs watch can prime the narrative to improve the chart while also increasing mindshare. Then it'll flywheel back into being crypto KOLs top-of-mind when looking for their next narrative to sell to their followers. "Higher is doing something different, look at the partnerships, etc etc." Perceived value in the crypto world achieved. Perceived value in crypto = a better chart soon = a better chart now if the narrative and community are good. Add that to existing mindshare in the social layer right above crypto from the brand strategy and perceived opportunity starts to increase there too.
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Dave Shake
@daveshake
The aesthetic of Higher (esp /higher-athletics) is great. It makes me feel something. It's bringing a new narrative to what a token can aspire to be. But is it enough for this market? Is it right for this market? I dunno, just some rambling.
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proxy
@proxystudio.eth
Appreciate the ramble I think higher simply topped out it’s addressable audience here, there was big profit taking, and then a few people who bought extremely early cashed out enormous amounts, (as you say, max pvp) without new buyers and with FC narrative downturn we arrive where we are today But higher is still…cool 1000 $degen
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Dave Shake
@daveshake
Yes, still cool 🤜🤛
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