“a lot of people have tried to apply web 2 product models to web3 and that’s failing. They’re focused too much on trying to manage and control tokens as utility like you would manage a web2 product outcome — and what they failed to recognize is that tokens are a new type of enthusiasm market, measuring more the meta sentiment about the product or the content than the underlying utility of it. Tokens are (currently) better at representing sentiments than utility.”

— yat siu, animoca

🥷 at Senpi:  senpi.ai 
 | Your AI edge in the market — finding signal, auto-trading, mastering exits. Welcome to the onchain dojo.

Very astute observation.  Tokens do gage the meta very well.  When it loses popularity, or people move b onto the next Shiney thing, they value attributed to one token begins to fade away. (Which is problematic to those left holding the bag)

In the context of web3, As a Farcaster user with a relatively low FID (365k or something) The tokens had great communities...We eventually saw which projects were there to experiment, build and see what happens vs the purely extraction ones. After some time away from Farcaster, there are new Metas I'm not really aware of or vibe with.  I would really like to see some of the Farcaster "Staple" tokens make a comeback. 

Know if this talk was being recorded?