Alex Masmej Profile picture
Sep 23, 2024 1 tweets 1 min read Read on X
Three bets the @Drakulaapp team is making for our next onchain app: all in on Base, make crypto invisible, and match TikTok UX.

1. All in on @base: Base isn't perfect today, but the combination of their huge distribution, incredibly affordable fees, and the nascent Coinbase Smart Wallet / OnchainKit tools makes me bullish.

2. Make crypto invisible: We need to embed wallets so that the most painful step is solely restricted to the signup phase – my instinct tells me it's a Passkey + email pairing. Then we just never show crypto nor wallets again to the user, unless they need to fund their wallet.

3. Match TikTok UX: If we include crypto-native products like @zora or trading any token on Base, that is superior enough in UX. We just need the table-stakes product offering people have learned to love about TikTok: show short entertaining videos, and social features like comments and sharing. Markets, not AI, will drive the content curation for us.

Amen. You'll see what we're talking about next week when we launch, stay tuned 🚀✨

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More from @AlexMasmej

Aug 24, 2021
It can be hard for newcomers to understand what a “decentralized social network” means

Although previous crypto social media attempts failed, it represents one of the largest opportunities for crypto adoption.

Let’s explain this in a thread why they will be game-changing 🧵👇
Previous crypto-powered social networks tried to emulate Web2 business models with cryptocurrencies.

Since crypto enables micro-transactions, it felt like a great use-case for tipping and payments.
Except virtually no one cared: out of 4B+ social media users, almost no one actually tips creators.

Most people use social networks for free — why would they pay?

Add to that the natural friction of early crypto tooling, and you end up with a bad product.
Read 11 tweets
Feb 15, 2021
Stoked to announce @tryShowtime pre-seed round led by @dragonfly_cap w/@robotventures @Bo11inger & angels incl. @Melt_Dem @balajis @minal_hasan @parisrouz @AndrewSteinwold!

On Showtime, creators make money from *their* content. #NFT

Thread + we're hiring tryshowtime.com
The NFT space is exploding in awareness during this bull market, mostly centered around digital art from famous figures.

It’s a nice start, but we’re missing one key component: a social experience.
NFT are more than “collectibles”: they’re the future of internet content— one that belongs to creators, not platforms.

Showtime starts by letting collectors discover and showcase digital art, collectibles, and others.
Read 7 tweets
Dec 10, 2019
[THREAD] Last month I started a Telegram group around what I firmly believe will be the next huge #DeFi trend: undercollaterization.

Here are my takeaways and pieces from the brilliant people who took part in the discussion:
First, context. DeFi only leverages overcollaterization because it’s the easiest enforcement: you can be 100% sure one will repay risky/volatile positions (smart contract risk aside)

But the world isn’t made of rich Compound whales. Actually, undercollaterization is everywhere.
Whether it’s social credit rating, or fractional reserve banking, loans, it’s all undercollateralized.

Yes, it’s prone to mistakes, but this time we can make it *transparent* and permissionless (which means more liquid for everyone). It’s healthier

Let’s dive in: (17 tweets)
Read 22 tweets
Nov 4, 2019
1/ People often ask me why I’m so “against” the iPhone. Why do I go out of my way to point out flaws or make analogies that put it in a bad light?
First, iPhone’s architecture & culture is _opposite_ that of Nokia, and yet claims to offer same solutions: phone calls, text, MMS…

Second, iPhone is considered a phone ‘blue chip’, thus colors perception of uninformed newcomers.
I've followed the iPhone since 2004 & feel a responsibility to share my concerns. IMO contrary to its marketing, iPhone is at best a science experiment. It’s sold 2 millions in 2007, which I think is still too high.
Read 10 tweets

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