0/ One simple mental model for the Internet is that the the Internet made information flow bidirectional

Whereas previously it was uni-directional
1/ Pre-internet, the mechanisms for one-to-many communication were

Stand in a public square, hooked up to a microphone, and get everyone to show up

Record a CD

National TV

Be in a movie

Write a book / magazine article

Newspaper editorial / ads

2/ One of the amazing things about the Internet is that information flows in both directions

The first examples of this were email and lightweight HTML pages

But this didn't really pick up until the iPhone, because the thing that people really wanted to share was pictures
3/ Once we gained the ability for bi-directional information flow, that completely reshaped the nature of attention, content production, advertising, creator monetization, and more all over the internet
4/ It's 2021. Go to a website

Value transfer is almost exclusively one direction

Paying merchants with a credit card is not amazing, but it's not horrible (especially with Apple pay layered on top)

But try going to a website, and receiving financial value

Almost impossible
5/ I think this is one of the largest design spaces that is totally un-explored, and that crypto uniquely enables

Making value flow bi-directional across the internet
6/ As an increasing number of people have wallets on a scalable chain like Solana that can support 100M+ DAUs, we are going to see entirely new classes of apps that allow users to receive value 30 seconds after arrival
7/ You can see the beginning of this trend just now starting with P2E and Axie:

go to website, click some buttons, get paid

There is about to be a tidal wave of these applications
8/ But P2E will not be the only type of application that capitalizes on bi-directional value flow across the internet. It is the first of many

We are looking to make more bets here.

DMs open!


• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with kylesamani.sol

kylesamani.sol Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @KyleSamani

10 Sep
0/ Rayban Stories

What, who, how, when, where, why

A thread

(Before getting into crypto, I started a company that built software for Google Glass (GG)in healthcare... I’ve been thinking about this stuff for a while!)

Only tangentially relevant to crypto
1/ What are FB’s long term goals?

Pretty obvious actually: build the metaverse

They have been investing in VR (Oculus) and AR for many years, with powering the Metaverse being the overarching goal
2/ FB stated that this will be the first of a series of products

The primary purpose of this launch is to get real world feedback

How do people use it?
What do they like / not like?
How do social norms evolve when someone wears camera glasses?

Read 25 tweets
5 Sep
0/ Some airplane thoughts on Loot
1/ I don’t think Loot has anything to do with any Metaverse things


Because Metaverse requires synchronous 3D space
2/ Loot may well have a place in a metaverse

But we are *very far* away from that. Networking + high fidelity rendering in real time for 1000+ people is a long way out
Read 13 tweets
2 Sep
0/ We’ve been thinking about stablecoins for a long time. We even tried to design one in late 2017 but ultimately canned it

We recently led a round in UXD, which we believe is the right decentralized stablecoin construction

1/ the construction is understood: it’s just the basis trade

This is *by far* the most battle tested stablecoin construction because of the volume + OI on perps over the last few years

It’s very hard to see how it implodes because it’s 100% collateralized
2/ UXD lives on solana and will interface with the major derivatives venues like Mango and Drift and others

And stablecoin swapping pools like Saber
Read 5 tweets
26 Aug
0/ Lots of talk recently about generative art

This is an interesting area, and I’m a fan

But it doesn’t really feel crypto native to me… it’s still just selling JPGs

But I think there is something to be done with algorithms and art ownership

A brief thread
1/ In “physical NFT” markets - sports cards, art, signed jerseys, etc - one of the most important properties is the condition of the object itself

Generally, better condition = higher price (a few exceptions to this)
2/ In the physical world, things naturally degrade. Oxygen, the sun, transportation, etc

But digital native NFTs obviously do not
Read 10 tweets
25 Aug
0/ Sushi and super apps. A 🧵

Sushi just turned 1. I think Sushi is little bit lost, and doesn’t know what it wants to be when it grows up

Multicoin owns some SUSHI
1/ Super apps used to be a mostly an Eastern phenomenon. The canonical example is WeChat

Fintech in the US has traditionally been siloed

Bank at Wells Fargo
Buy stocks on Robinhood
CC from Chase
Crypto from Coinbase

2/ Over the last 10 years, as all of the big fintech unicorns - Revolut, Robinhood, Chime, SoFi, etc - have started to reach saturation points for the markets they started serving

They all started naturally expanding into other financial services
Read 25 tweets
19 Aug
0/ The single most important question in NFT land is

How do you enable the long tail of creators - think 25M+ around the world - to generate say $50-100k / year in income, so they can self sustain

A thread
1/ Today, I would argue we don't really have PMF for creator monetization

Sure, Beeple and 3LAU and Pak have sold stuff for millions per piece

And stuff on SuperRare clears for 6 figures regularly

But this is by definition not long tail
2/ It's awesome to see OpenSea trading mega volumes of Punks and Axies

But again, this is not monetization for long tail creators
Read 23 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!