Consumer crypto is poised for a major breakout this cycle.
What have recent infra advancements unlocked, and what apps should you look out for in 2024? My new article for
@Collab_Currency
.
1/ The next 1B users will expect convenience + security in accessing Web3.
As the entry point, wallets represent *the* critical infrastructure for onboarding mainstream adoption.
My new article for
@Collab_Currency
breaks down the wallet opportunity.
1/ Each technological wave has spawned new social apps, from desktop-native
@facebook
to mobile-first
@Snapchat
.
Web3 enables a decentralized, open model where users own their identity, data + content.
My new article for
@Collab_Currency
.
1/ Today, centralized tech companies own + control apps, capturing trillions in value. Tokens offer an alternative.
We’re starting to see tokens change the way consumers interact with the products that they use. My new piece for
@Collab_Currency
.
1/ Influencer
@MrBeast
embodies the “success story” made possible by the rise of Internet-enabled social media platforms like YouTube + TikTok.
The next MrBeast will reach new levels of fandom through Web3’s unlocks. My new piece for
@Collab_Currency
.
1/ What’s next for NFT infrastructure? A thread 🧵
Thus far, NFTs have primarily served as speculative assets. What enablers will bring us to the next phase of NFTs as productive digital goods?
Below are specific enablers I'm watching:
1⃣ONBOARDING
2⃣FINANCIALIZATION
3⃣UTILITY
1/
@friendtech
has reached 400k+ transactions across 32k unique buyers. And their mobile app wasn’t even listed in an App Store.
Will hundreds more Web3 mobile apps follow in their footsteps? My take below 👇
IT IS LIVE 🔥: The Flagship Penn Blockchain Conference & Hackathon official website is now live at ! Check out our world-class lineup of crypto A listers!
Ticket is free and everyone is welcome to join: RSVP on the website
Beyond earning NFTs & tokens, Web3-enabled loyalty programs can monetize super-fans.
In an interesting case study,
@Starbucks
Odyssey's first 'Stamp' drop sold out in ~15 min w/ the floor price in secondary currently sitting at ~6x.
1/ STEPN is generating $3-5M in net profits/day, attracting 2-3M users worldwide & attracting the attention of normies & crypto-natives alike. However, critics cite the unsustainable economy as an app-killer.
So, is STEPN a fad or the future of fitness? Here’s my take 🧵
Earned my 1st
@Starbucks
Odyssey Stamp w/o buying a single drink. To earn the 'Signature Showdown' stamp, I simply had to vote on my favorite drink for 4 weeks.
Interested to see if efforts like this have any impact on classic loyalty KPIs (e.g., avg. spend/member, LTV, etc.).
1/ Axie Infinity is one of the most successful blockchain games, earning $4B+ in NFT sales. But, recently the game has dealt w/ declining token prices & sales volumes.
What can we learn from its economic woes & how can the next set of blockchain games improve the mode? 🧵
1/ Ate brunch @ Gertie, the 1st partner of restaurant loyalty & membership platform
@blackbird_xyz
While early (most patrons were unaware of the launch & I had to walk my friends through how to scan an NFC chip 😂), blockchain-enabled loyalty is a paradigm shift
1/ Coinbase launched
@BuildOnBase
w/ onchain summer - "a celebration of art, culture, gaming, community + more." The result was 700k mints from 268k unique wallets.
This is just the start. In the coming years, more + more media will go onchain 👇
2/ As part of Onchain Summer, we worked with 23 partners to showcase onchain art, culture, music, gaming, and more
These collections generated 700,000 total mints from 268,000 unique wallets
1/ Wallets as super-apps
Late last year, I wrote: “While most wallets won’t survive as standalone apps due to the intense competition at this layer and resulting network effects, the leading ones will trend towards super-apps.”
1/ The next 1B users will expect convenience + security in accessing Web3.
As the entry point, wallets represent *the* critical infrastructure for onboarding mainstream adoption.
My new article for
@Collab_Currency
breaks down the wallet opportunity.
gm
@Solana
NYC
I’ll be speaking on raising $$$ in a bear market this evening.
Reach out if you’re building consumer apps/infra on Solana + want to chat 👋
Given
@MetaMask
launched in 2016 and still hasn't released a token, curious why no wallets have tried to become the
@blur_io
or
@tensor_hq
of wallets?
Seems like there's an opportunity to attract high volume users w/ a token (+ better product)...
1/ A lot of the recent conversation around creator royalties misses a key question: Do royalties have product-market fit?
I’d argue that the answer is “generally no” but that this isn’t as bad for creators as you think.
Stoked to be trying something new w/
@winnielaux_
Tune in to hear us chat about:
- Farcaster Frames + Channels
- "Points" programs
- Telegram bots
- Ephemeral apps
- Memecoins
- New on-chain standards
- Trends for 2024
+ MORE
1/ With NFT volume on
@MagicEden
hitting 1/3rd (or more) of that on
@Opensea
, I’ve been thinking about whether there will be another chain-specific breakout NFT marketplace 🧵
I'll be at ETHDenver 2/27-3/2 🏔️
And am moderating a panel "App-Infra Cycles and the Next Wave of Consumer Crypto" w/
@andy_bromberg
,
@DB3045
+
@justinmmelillo
on 3/2 ✨
Feature requests for
@viamirror
:
1) enable ability to subscribe/follow
2) more flexibility around images (e.g., sizing, indentation)
3) set post date as time of publish, not time of draft
Today, we are excited to come out of ’stealth’ and officially announce ourselves.
Hello world, we are Seed Club Ventures, a $25M venture DAO investing in a world of internet-native organizations 🌱
What are we up to? Read on ↓
3/ I dive into the significance of
@MetaMask
’s launch & the 230+ wallets that have come to market since.
These span:
- Ecosystems (e.g.,
@phantom
as Solana-first)
- Verticals (e.g.,
@rainbowdotme
for mobile)
- Target users (e.g.,
@SquadsProtocol
for teams)
2/ I trace the historical origins of digital value transfer, exploring parallels between the early Internet + Web3.
From SSL’s security standard to Plaid's banking APIs, technological advances enabled the modern e-commerce experience.
7/ I explore the emerging trend of wallet super-apps that offer expanded functionality. Examples include
@xNFT_Backpack
,
@UltimateMoney
+
@CastleLinkHQ
.
I also look into the open, composable systems that help power them.
Given I haven't seen any NFTs on my
@instagram
feed, I'm not surprised
@Meta
is winding down its 'digital collectibles' effort.
Some reasons I believe they didn't work:
1. poor audience fit
2. not enabling a novel use case
Some product news: across the company, we're looking closely at what we prioritize to increase our focus. We’re winding down digital collectibles (NFTs) for now to focus on other ways to support creators, people, and businesses. 🧵[1/5]
4/ Existing wallets have laid the core foundation for interacting with dApps.
The next generation of crypto wallets will simplify custody, provide frictionless interactions + offer enhanced functionality.
8/ Similar to early Internet users, Web3 users thus far have experienced the difficulties of using new technologies. However, the next 1B users will demand more in convenience, security + functionality.
Therein lies Web3's wallet opportunity.
Looking forward to judging the
@crosschainco
&
@TechCrunch
Web3 Demo Day next week!
Join me in hearing from 12 projects that will present their plans for reshaping the future of web3.
Register to catch the live stream for free on Jan 11:
5/ I outline paths for simplified custody - smart contract wallets + MPC.
I walk through some of the startups using this technology incl.
@coinbase
,
@argentHQ
+
@safe
.
Finally, I break down what to watch in 2024:
1. Social:
@friendtech
showed how the emerging infra stack is prime for social. What’s next?
- Social speculation games (e.g.,
@unlonely_app
)
- Community-driven memes (e.g.,
@bonk_inu
)
- Web3-native character brands (e.g.,
@Azuki
)
Presenting the State of Wallet Messaging 23-24 🥁
A snapshot of the state of awareness, adoption and experience behind Web3's own communication network - Wallet to Wallet messaging
Get the report NOW -
3. Payments: Sending money globally continues to be difficult w/ a lack of affordable and user-friendly solutions.
Startups are tackling the big opportunity to make payments faster, cheaper, global (e.g.,
@beam_eco
,
@SlingMoney
,
@getcode
).
5/ In the coming years, I believe we will see Web3 social experiences gain momentum & we are just at the beginning stages.
See here for my full download.
2/ I explore the state of today’s creator Internet, including intense competition for mindshare, the rise (+ fall) of targeted advertising + the growth of influencers.
I conclude that today’s challenges for creators lay the foundation for technological disruption.
4/ This Web3 creator paradigm deepens fan relationships across many sectors, from music (e.g.,
@soundxyz_
,
@wearehume
,
@AudiusProject
) to media (e.g.,
@StorycoHQ
,
@we_are_BasedAF
).
I dive into emerging sectors I’m watching incl. user-generated content, brand loyalty + commerce.
3⃣ UTILITY
⭐️ Top Enablers ⭐️
- Physical world bridges: Real world value has been primarily derived through social events & merchandise. Opportunity exists to bridge documents (e.g., concert tickets, property deeds) & NFTs
E.g.,
@BoredApeYC
@AzukiOfficial
@RTFKTstudios
11/
We’re excited to host the inaugural Web3 Growth Summit in Paris during
@EthCC
. We’re bringing together top builders, investors, and ecosystem contributors for a half-day event focused on growth strategies for Web3 companies.
6/ Wallet infra (e.g.,
@magic_labs
,
@privy_io
,
@coinbase
Wallet as a Service) is helping streamline onboarding w/ social logins + simple account creation.
These solutions also enable developers to focus on creating compelling apps.
4/ I cover barriers to adoption, including privacy, safety & UX.
I walk through some of the startups tackling these issues, from
@LitProtocol
enabling private and portable social networking to
@Yakoa_
detecting NFT fraud.
2⃣ FINANCIALIZATION
⭐️ Top Enablers ⭐️
- Pricing mechanisms: The first step for financialization. While algorithmic-driven models aren’t ideal for subjectively priced NFTs, they’re more scalable and applicable to a broader market
E.g.,
@UpshotHQ
@NFTbank_ai
@abacus_wtf
5/
7/ Regardless, Web3 social plays will need to offer a *novel* use case to truly take off.
I'd argue that if targeting crypto-natives, being able to monetize superfans is especially critical.
4. Digi-physicals: Now that crypto rails can be abstracted, brands are leveraging blockchain + NFC chip technology to launch digi-physical experiences (e.g.,
@iyk_app
,
@generativegoods
).
This is a compelling design space for consumer engagement + authenticity.
5/ First, I explain why creators sacrifice a huge chunk of revenue to Web2 creator platforms like Patreon + Twitch: distribution.
I explore projects experimenting w/ how to propel the flywheel of adoption for Web3 social. These include
@LensProtocol
+
@the402HQ
.
We’re excited to announce
@Sleepagotchi
’s $3.5M seed round to continue to build our mobile application with gamification and social elements for improving sleep health!
Read full details here:
6/ Web3 platforms offer new potential avenues for monetization incl.:
- NFTs (e.g., group memberships, username registry)
- Protocol fee (e.g., take rate on creator revenue generated)
- Token incentives (e.g., user management of platform)
3/ How can account abstraction fix this? It decouples the account from the signer, enabling new use cases such as:
1. Batch transactions
2. Social recovery of wallets
3. Account security restrictions
🔷 Other Potential Enablers 🔷
- Mobile: Geolocation & AR, especially combined w/ virtual worlds & gaming, could be areas where NFTs and mobile collide to enable mainstream adoption
E.g.,
@getDropverse
@animavirtuality
@joinsuperlocal
12/
- Liquidity pools: Open the pool of buyers for NFTs of the same class. So far, traction is limited with market leader NFTX capturing only ~$20M in TVL
E.g.,
@NFTX_
@sudoswap
@FloorDAO
9/
First, I trace the history of apps-infrastructure cycles in crypto.
I cover some of the biggest developments:
- Bitcoin → creation of centralized exchanges
- Ethereum → early decentralized apps
- ERC-721 → unique digital objects
4/ With media going onchain, there’s a need to help consumers understand + track on-chain activity:
- Human-readable block explorers (e.g.,
@onceupongg
)
- Curation protocols (e.g.,
@SuperRareLabs
)
- Social discovery apps (e.g.,
@sohoxyz
,
@GALLERY
)
+ more
4/ I see wallets of the future as super-apps offering functionality incl.:
- Discovery (e.g., explore dapps on
@xNFT_Backpack
, learn abilities via
@daylight
)
- Commerce (e.g., trade NFTs through
@reservoir0x
)
- Communication (e.g., messaging/alerts from
@xmtp_
+
@NotifiNetwork
)
3/ We’ve also seen infra focused on enabling artists + creators to deploy on-chain.
@ourZORA
calls itself a “Layer 2 built to help bring media onchain.”
Other projects are helping brands optimize their onchain strategy (e.g.,
@onvessel_world
).
3/ So what does blockchain uniquely offer creators?
- Ownership: controlling audience + data + revenue
- Co-creation: fan-guided direction
- Incentivization: fan-owners
- Seamless value transfer: real-time, transparent payments
2/ The current Ethereum EOA design has a big problem for mainstream mass adoption. If you lose your private key, you lose your account!
This is because EOA couples 1) the account holding your tokens and 2) the signer authorized to move these tokens.
8/ Market forces and regulatory tailwinds have opened up the opportunity to revisit the role of the creator. Web3 offers unique unlocks for how creators interact with consumers.
I’m excited to watch next generation fandom unfold over the coming years.