Friend.Tech airdrop is coming soon, what else is worth paying attention to in the creator economy track?

24-05-03 10:47
Read this article in 15 Minutes
总结 AI summary
View the summary 收起

Since the beginning of this year, Base and its related ecosystems have brought benefits to many Web3 people who have been deeply involved in the Creator Economy. The community meme craze of DEGEN airdrops, Zora, Nouns and other ecosystems has not only financially rewarded Creators who have always believed in the value of creation, but also made the entire crypto community realize that the Creator Economy is not just a group of people's self-entertainment, but is becoming a key driving force for the prosperity of the chain in addition to speculation.


Last year's God Plate Friend.Tech will issue coins this month, and the entire Creator Economy track is also recovering. Farcaster and its ecosystem are expected to usher in the possibility of a grand occasion like Friend.Tech at that time.


The soil of the Creator Economy is becoming more and more fertile


Perhaps we can first review the connotation of the term Creator Economy, that is, it allows creators to monetize their works without intermediaries to support creators. At the end of 2021, Li Jin, co-founder of Variant Fund, published an article titled "Web3: The Golden Age of Creator Economy", which made an exciting vision for the creator economy in the context of Web3, and set off a wave of creator economy in the crypto field.


Today, AI creation is no longer a difficult task, and creation seems to have become easy and not worth mentioning; but the creator economy is still worthy of market attention, because decentralized social platforms are becoming more mature and content financial products are gaining popularity again.


In 2024, in addition to Bitcoin, Base and its ecosystem performed well, and Farcaster, a leading decentralized social protocol, is an important role. It is precisely because of Farcaster's strength that the decentralized social track has more time to build user habits and tell stories.


The concept of creator economy is not unique to the Web3 world. Content payment, advertising placement and other monetization methods already have mature business operation models in the traditional Internet. However, "content ownership" is the core difference in the creator economy between the crypto field and platforms such as Zhihu and Xiaohongshu. To achieve this, the platform chosen by creators is the key.


Since 2022, social creation platforms such as Lens Protocol, Farcaster, CyberConnect, Story Protocol, etc. have been launched one after another, and have obtained high amounts of financing or issued coins. So far, Farcaster is undoubtedly the most successful one. Its founders gathered a group of outstanding developers, builders, and investors in the crypto field in the early days of the launch, forming a unique Degen culture. Coupled with the positive support of Ethereum founder Vitalik, the Farcaster protocol is currently a rare social platform with continuous production of real content.



In February this year, Farcaster's largest front-end Warpcast application updated the Frames framework function and the Degen channel reward mechanism, which led to the rise of ecosystems and communities such as Base, Zora, and Nouns to airdrop to creators and reward each other. For the first time, the decentralized social platform has the greatest common divisor between creators and speculators.


Against such background, the growth of the creator economy is a natural outcome. As a form of creator economy social platform, Friend.Tech's news of issuing coins and airdrops has finally settled, which also brings new possibilities to the field of content financialization. On April 27, Friend.Tech officially announced that data repair and snapshots have been completed, and the points balance has been locked. From the end of April to now, Friend.Tech has been warming up for the release of new versions and airdrops.


Friend.Tech once brought great possibilities to the SocialFi track, and the "Fi" attribute of social is also a point that the creator economy must talk about. The reason why Farcaster can gain long-term momentum is that there is a group of content creators and emerging interactive models headed by DEGEN Tip. Therefore, taking over the name of Friend.Tech, the most popular social product on Base, Farcaster is also making great efforts in building creator culture.


In recent days, Farcaster held the developer conference FarCon 2024 in LA. Official partners also include the creator economy APP Jam in its ecosystem. Jam has previously received a donation of one million DEGEN. This time, it will also co-host the first creator economy summit with Degen at FarCon to discuss the creator economy of decentralized social networks.


The emergence of Jam has made the creator economy track interesting again.


Dark horse Jam, a "Chain-based Instagram" that can trade content


Since we are discussing the creator economy, we have to mention Jam, a new dark horse in the creator economy track. Its goal is to hope that every high-quality content creator can be value-discovered and make money.


Jam is not a content creation platform, but a platform that can use ETH and DEGEN to trade content. Users use Warpcast accounts to onboard Jam accounts. After logging into the Jam account, users can activate "Monitize" in the My Jam interface and set the starting price for their published content. The price of subsequent content will gradually increase with the number of purchases.



Publish content on Farcaster to become a "creator", and you can collect a 5% tax fee from subsequent transactions of the content. In addition, there will be official token incentives from Jam. Users can freely choose the content they want to trade, which is called "rewarders". Not only can they fund creators by purchasing content, but users can also cast content into NFTs that can be traded on the open market. After conversion to NFT, the content will not be traded on the Jam platform.


Jam went online on April 18, and the platform's transaction volume exceeded US$10 million in less than 72 hours. The total number of transactions has now exceeded 52,700, and the DEGEN transaction volume has exceeded 270 million.


Jam's payment model is different from the Tip mechanism created by Degen. Tip is a reward, and on Jam, after rewarding, the ownership of the content needs to be transferred, just like the oil painting masters in the Middle Ages, who need to deliver works after receiving funding.


In addition, the design of Bonding Curve also makes the entire platform similar to Friend.Tech, and people who buy content will appear in the lower left corner of the post, creating more booths for the entire platform and bringing additional value. The emergence of Jam may show that value discovery and value interaction are the core of the next generation of social networks and even the creator economy.



Jam's predecessor is JamFrens, a client based on Tako Protocol and using Farcaster and Lens Protocol as content sources. It can directly help users of Farcaster and Lens Protocol monetize their social influence and trade content and materials.


JamFrens also improved GameFi's X to Earn model at the time to make it more suitable for social scenarios. Advertisers can bid to let content creators and curators with advertising target audiences promote and disseminate related content, which is the "Patron" module in the picture above.


Perhaps the most noteworthy thing about Jam is that it is backed by the content rich mine of Farcaster. Once upon a time, the Web3 creator economy was considered to be Ponzi unfeasible and had limited development space. Unlike PGC content such as NFT and chain games, the creator economy in the Web3 world is currently mostly derived from UGC production, that is, user-generated content, which cannot guarantee both the sustainability of content creation and good performance in financialization.


As mentioned above, Farcaster is a social platform that focuses on creator culture. It not only gathers people but also aggregates content. The emergence of Jam has brought financial attributes to these contents.


Escape from Twitter, where is the next content position of Web3?


The most important thing about social platforms is people. The most important thing in the creator economy is also people.


Some time ago, pop star Taylor Swift released a new album. Meta (formerly Facebook) social platform Instagram and Twitter competitor Threads spent a lot of effort to warm up Taylor's entry into Threads, such as being able to follow her homepage in advance, and the first fans to forward Taylor's first content will receive badges, etc. Xiao Zu deeply knows what Taylor's influence means to Threads.


In the crypto circle, leaving Twitter seems to be a traceable thing, just like the mainland crypto people once escaped from Weibo. Musk once said "Why did he leave?" to express his confusion about Vitalik's departure from Twitter. Dan Romero, the founder of Warpcast, also sent private messages to invite users to join one by one because of people. As Farcaster DAU has not experienced a second plunge, it can be believed that a certain endogenous user and content ecology has been formed here.


"The development of content platforms is not linear, but cyclical", and this is also true for decentralized social platforms. People will gradually get tired of the explosion of information and turn to platforms with high-quality and exquisite content. With a clear profit model, Warpcast will attract more traffic, which means more abundant content creation, which is undoubtedly a good trend for content financialization platforms such as Jam, which is also equipped with the Farcaster protocol.


One thing that Friend.Tech, which was once very popular, and Farcaster, a social fried chicken today, are doing is "issuing new assets around people", so the next content position of Web3 depends on where people go.


reference:
https://medium.com/@TakoProtocol/takos-canvas-painting-the-future-of-creator-economy-in-the-web3-era-cd337d20009b
https://www.theblockbeats.info/news/49623
https://www.theblockbeats.info/news/48947
https://www.huxiu.com/article/368860.html


欢迎加入律动 BlockBeats 官方社群:

Telegram 订阅群:https://t.me/theblockbeats

Telegram 交流群:https://t.me/BlockBeats_App

Twitter 官方账号:https://twitter.com/BlockBeatsAsia

举报 Correction/Report
This platform has fully integrated the Farcaster protocol. If you have a Farcaster account, you canLogin to comment
Choose Library
Add Library
Cancel
Finish
Add Library
Visible to myself only
Public
Save
Correction/Report
Submit