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gm enjoyoors⋆·˚ ༘ ⋆·˚ ༘
i send this email to you live from the dungeons of berlin. an unprecendented amount of shareholder value has been provided. who are the shareholders you ask? that is a profoundly personal question that can only answer by looking within. enjoy a week in consumer crypto below.
xx c
"People clearly want culture on-chain, and they want more of it. However, while the industry focuses on building a more efficient version of the same, few builders are developing the necessary products around accelerating culture on chain. Yet, in my opinion, this is where the biggest opportunities currently lie." -@lucanetz, "The Future of Culture is Tokenized"
Both Lens and Farcaster surpassed 300k profiles. The Boys Club Crypto:The Game Companion Pod is highly entertaining. Christies announced their first Ordinals auction. Surreal added support for Zora comments. Zora activated support for HTML mints. Eigenlayer went live to mainnet last week. You can mint in feed on Orb. Stack introduced Claim Frames, a Farcaster Frame that enable users to claim token rewards with 1 click, based on their points in Stack. MetaMask partnered with Daylight to help users check if they qualify for any airdrops in the ecosystem. Over 400K uni.eth usernames have already been claimed on Uniswap. Uniswap also received received a Wells notice from the SEC and is ready to fight!
Internet Explorers is a weekly rundown live stream where extremely online individuals broadly explore (romanticize, even) new consumer internet experiences.
Live & online Fridays at 10am PT / 1pm ET.
The evolution of tipping mechanisms has elevated the functionality of scenecoins beyond traditional memecoins, providing incentives for contributions to the underlying scene. $DEGEN pioneered tipping through tip comments, and $Enjoy introduced an evolution tailored to its own scene, rewarding holders with weekly token allocations for tipping creators on Zora based on their onchain reputation. The introduction of tipping distribution rewards further incentivizes participation and decentralizes token distribution, fostering community-led initiatives without the need for formal governance processes. We're loving to see people pushing this model forward with fun new creative output each week. Some highlights...
Last week's show kicked with LGHT, “an artist, designer, writer, and technologist based in the Eastern Standard Timezone." We’ve been following him closely recently with his work on Higher and Based Management, but he’s been a prolific onchain creator for years. The IE conversation primarily focused on $higher, discussing its origins, its characterization as a "brand token," and its future trajectory. It highlighted the significance of token brands and pricing mints in branded currencies in order to guide and focus onchain creation efforts and community building. This shift from pricing in ETH to branded currencies fosters a stronger connection and motivation for collectors, as it signals items made specifically for them.
We also had Colby on the show who’s building mmERCH, a fashion label that combines GenArt, NFTs, and physical goods into a novel consumer experience. Their first drop is happening this week -- a series of ~900 1/1 hoodies uniquely generated from hundreds of traits and materials. Buying one gets you an NFT of a character wearing your unique hoodie, a physical hoodie, and “receipts” that act as community tokens with art created by die with the most likes. Watch the episode below for a dive into why she’s so interested in generative fashion, her multiyear builder journey, manufacturing 1/1s, rejecting the homogeneity of fashion, and much more.
Scenecoins rely on broad distribution among aligned individuals and potential members to thrive, with things like initial airdrops and ongoing tipping to sustain engagement and foster community building. For instance, $enjoy allocates tokens to members weekly for tipping based on their scene reputation, resulting in increased activity and value creation within the community. Other scenes, such as $DEGEN and $ONCHAIN, employ similar mechanisms tailored to their respective focuses, illustrating the diverse design possibilities for incentivizing community participation.
Recent developments, such as Andrew Kang's observations on the Mr Beast flywheel and Unlonely's innovative memecoin mechanics in livestreaming, are showing us new paths forward for the intersection of entertainment and content-driven token models. One possible example would be a collaboration between pump.fun and Unlonely, where tokens graduate from bonding curves to liquidity pools during live streams. With ongoing experimentation, the intersection of tokens and entertainment holds promising potential for engaging and immersive audience interactions.
Nouns is introducing a scenecoin, $nouns, backed by Noun NFTs, allowing owners to exchange their NFTs for 1M $nouns tokens. The aim is to democratize access to Nouns and expand participation in the project. This move reflects a growing recognition of the limitations of NFT-based or governance-focused structures, with a shift towards fungible tokens with social distribution mechanisms to maximize ownership and engagement. The dynamics between fungible tokens, daily auctions, and secondary markets will be fun to watch.
Watch the full episode:
We're excited to announce FREE WIFI on Saturday, May 4. Join us for an exotic unconference style exploration of /CONSUMERCRYPTO during FarCon in Venice, CA. A full day (and night) of festivities including workshops, panels, product activations, drinks, art, music, enjoyment, sunshine. A Seed Club Production brought to you by our friends at Slow Rodeo, Archetype, $Enjoy, and more! Apply to join us.
We're hosting FarCon’s Welcome Party on a rooftop in Venice Beach on May 1st!!! A curated, multi-day experience, FarCon is designed to convene, connect, and celebrate the driving forces behind Farcaster's ecosystem. Get your pass.
TestFlight Club is the best place on the internet to get high quality feedback from over 100 highly curated early adopters. Avoid the Airdrop hunters and get your pre-launch product in front of real humans who give real, valuable feedback. Submit your product here.
The core focus is to support founders with high-quality early usage, feedback, and insights. We’ve shared early looks at … Drakula, Forage, Crypto The Game, Seam, Revel, CoLinks, Sperm Game, newcoin, t2, Sona Stream, Daylight, Focus Tree, Receipts.xyz, DrawTheChart, Lore, Yup, Gallery, Revise, and more!
Want to join the Club? We're slowly opening the doors to new members.
Cheryl Douglass
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A critically acclaimed weekly @seedclub consumer crypto roundup https://paragraph.xyz/@seedclubhq/seedclub-network-news-apr-16-2024