Some ramblings: I had a conversation with @rebeccadai0 earlier last week about Web3 social - what we lack today is not a messaging app or a community tool, but rather a repetitive activity that a bunch of people keep going back to the same place to do it everyday.
Imho it's relatively hard to grow brand-new social behaviors out of a new chat app that's simply dedicated to some "NFT communities". Ownership of the same NFT collection sounds sexy, but it needs deeper bonding than just "sharing the values" to form long lasting relationships.
In other words, new social behaviors in this world may occur only after people frequently interact with the same platform for some common purposes - people first each grows a relationship with the platform, and then they develop relationships with each other.
If we have to find some examples, it's prob like how @Stepnofficial users open the app on a daily basis, or how the fans of @ProjectGalaxyHQ keep coming back to the dashboard to look for new tasks. They both have the potential to grow multidimensional relationships.
There are a lot of ideas about the social experiences that STEPN is keen to explore to offer (or in a fancy way, the web3-native digital bonding experiences), but social is also a double-edged sword that can rise and fall you fast - we all need to be honest about that.
STEPN started with incentivizing people to pursue a common goal of "adopting a healthier lifestyle", but how it turns the one-way relationship between a user and the product into a network of relationships among the users, is probably the answer to "how to create a web3 Disney".
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2/ First of all, I want to let our community know that we are terribly sorry for all the miscommunications that have not only disappointed our believers but have caused unnecessary damage to the community and ecosystem.
0/ @Jerry10240 & @yawn_rong participated in many AMAs and Twitter Spaces; yet we never summarized our thoughts about @Stepnofficial's present and future in one thread.
This thread is to explain what we believe STEPN is, how we got to where we are, and what we hope STEPN to be:
1/ What is STEPN: an easy bridge between Web2 and Web3. We strive to become one of the easiest onboarding mechanisms for the non-crypto folks to get onto the Web3 rail, starting with a Web3 login
2/ What we hope STEPN to grow into: a platform that empowers its loyal community members with Web3 experiences that are connected to real world economies, and an ecosystem whose values are *created* by the users and *owned* by the users
Yesterday was my last day at Multicoin. I’m leaving the firm to join @Stepnofficial as the Chief Revenue Officer. It is a big turning point of my career, and it took me a lot of deep thinking in the decision-making process.
1/ I would like to first and foremost thank all my colleagues at Multicoin Capital, with whom I spent the best three years of my career thus far and together built up this amazing asset management business.
2/ Every second that I worked with a colleague at Multicoin was intellectually stimulating; I was constantly amazed by how much I could learn from anyone on the team.
0/ @kankanivishal always diligently reminds me of doing my job of translation so here is it - a thread about how I think about "subsidizing" users in Web2 v.s. Web3:
1/ I have come to realized that many believes that the airdrops / rewards are similar to the subsidies in the Web2 apps. To some extent they are - they incentivize new human behaviors.
2/ One big difference, however, is that as you spend the subsidies gifted by the Web2 companies - say you use the coupons offered to you by Uber - you did get to enjoy the service, but you have nothing to do with the future of the company, even if you continue to use the service.
1/ Over the 75 days since Eden launched (same day as 1559), Eden has been through a mad ton.
Rome is never built in one day - building an MEV infrastructure requires constant iteration; and we've seen the effort made by the team to continuously strive to do so
2/ The slot tenants grew from the lack of usage in the early days (due to some UIUX challenges) to their value being gradually discovered by more searchers (as we've seen cycles of healthy bid wars)