Founders

THIS IS NOT A SOLICITATION TO PURCHASE SECURITIES

Hypothetically speaking, would you financially support team Farcookie to build out a full Shopify like social commerce experience?

Again, not a solicitation. Interpret the above vaguely worded cast how you will.

🫡

Explored building a farcaster native VC.

Post idea as bounty, get funded and work on it. First team who succeeds wins money and potential to get more funding from investors. Initial backers get equity.

Here's what @markfishman and I found out and why it doesn't really work like that today... 🧵👇

Interested in human flourishing & social infrastructure | slowly building /firstdraft | markfishman.xyz

Explored building a farcaster native VC.

Post idea as bounty, get funded and work on it. First team who succeeds wins money and potential to get more funding from investors. Initial backers get equity.

Here's what @mark and I found out and why it doesn't really work like that today... 🧵👇

we got together and scoped out the whole system (see attached mindmap)

and it could work technically. Though Mark put it nicely. "Would people invest and see it?"

We went on to ask anyone responding to Bens cast and a few friends on their feedback.

Here's what they said...

Farcaster Development Boutique @ https://dTech.vision 💜 in love with tech 🤓decentralization, fitness and oldschool rap 😎

🍌 @revealcam | playing around onchain: @alfaca @offmarket @perl | vc warm intros | fid #539

They all loved the idea with the builder heavy farcaster community getting opportunities and ideas of the ground via funding though

1) US law makes it insanely hard to do legally
2) if legal US law requires accredited investors or really small investor group
3) like @ace put it "people invest in people, not ideas"

🕯️They/them. Scaled cos from 0-$300k in arr, 7-35 employees, 0-100k users. Now I make candles that give people love, joy, and delight at humankind.place

now that @bountycaster has add to bounty in frame and has had it for a while you can do a bounty, get funding for the bounty by people adding

so create your own bounty for 1 USDC and have people add to your idea bounty. Then people see the $$$ and build for all of you!

though the issue here is visibility

someone-build

not everyone checks the bountycaster webpage and bounties in channels and feeds go under after a couple of days at latest if there are no responses. also you might now have a big following of people chiming in.

so the solution may be to curate. /someone-build is an awesome channel of ideas. If we could just add and...

like @dawufi put it get "early access, perks, priority support" we might already fund bounties and add amounts to it, to make even larger development projects like a ecommerce checkout system built with frames and intergrated to say shopify a obvious opportunity to build without legal equity issues

so whats the deal?

deal is to add funds to bounties, engage with them and just post your ideas as bounty!

@mark and I are currently exploring to write a newsletter doing userreseach and putting initial development steps + specs in there for ideas to be easily adapted. If thats interesting to you and you want to help,   respond

Fabric

Bounties

the VC idea is an awesome dream, and may be possible in the future. we will start by solving for visibility and using /fabric and /bounties for ideas in /someone-build 

h/t also to initial idea and feedback givers❤️ love you!

@codeofcrypto @jessepollak @dawufi @nonlinear.eth @linda @jrf @lght.eth @ace thank you!❤

so the main issue is that just the idea gets people hyped, but not to invest

also @samantha said she would just build it herself and not need invest.

Though I can say myself, that a bounty really motivates to get results

so how can one do this right now?

idea matters but not as much unless it is mindblowingly unique.

i’d rather bet on jack dorsey pitching:
“wanna build a fun social app” (general)

than a novice pitching:
“wanna build a web3 sns for sports lovers” (specific)

Hey Samuel 👋
Bouncing on your thread, I would be happy to let builders Fairmint to raise funds compliantly. Feel free to try it for yourself (https://fairmint.com) to get a feel of the experience, it's completely free for traditional fundraising (SAFEs etc...).

co-founder at fairmint.com.
If you're a FF (Farcaster Founder) raising funds, stop right here and checkout fairmint.com. Or DC me :)

that looks awesome! could one gauge interest via say /fabric crowdfund build the thing and if the team wants to continue leverage fairmint after?

how would that be for internationals? is it US only?