Why Pump Fun Is A Step Toward Crypto’s Original Mission
“I may not have gone where I intended to go, but I think I have ended up where I needed to be.”
Crypto needs less fundamentals not more, return to magic internet money.
Crypto is in the middle of a serious identity crisis. The mainstream is asking for fundamentals and many of the coins can’t seem to measure up. There is now a scramble to focus on revenue which, to justify current valuations, seems like an impossible task. The problem is that we are using tradfi’s yardstick. ETH is getting put through the ringer trying to justify its valuation, while memecoins still defy gravity. Memecoins have been the darling of this cycle, making up a majority of activity....
Crypto is winning and everyone's miserable
It wasn’t long ago that “insiders” were still debating whether holding bitcoin was illegal. While there wasn't a single moment where crypto became legal, as the years went on it's legitimacy grew. The narrative is that crypto grows in 4 year spurts. While that may be reflected in the charts, the REAL battle for mindshare happens quietly in the background. In the last few months crypto has been seemingly “hugged to death” by its first taste of real mainstream acceptance. This administration ma...
<100 subscribers
Why Pump Fun Is A Step Toward Crypto’s Original Mission
“I may not have gone where I intended to go, but I think I have ended up where I needed to be.”
Crypto needs less fundamentals not more, return to magic internet money.
Crypto is in the middle of a serious identity crisis. The mainstream is asking for fundamentals and many of the coins can’t seem to measure up. There is now a scramble to focus on revenue which, to justify current valuations, seems like an impossible task. The problem is that we are using tradfi’s yardstick. ETH is getting put through the ringer trying to justify its valuation, while memecoins still defy gravity. Memecoins have been the darling of this cycle, making up a majority of activity....
Crypto is winning and everyone's miserable
It wasn’t long ago that “insiders” were still debating whether holding bitcoin was illegal. While there wasn't a single moment where crypto became legal, as the years went on it's legitimacy grew. The narrative is that crypto grows in 4 year spurts. While that may be reflected in the charts, the REAL battle for mindshare happens quietly in the background. In the last few months crypto has been seemingly “hugged to death” by its first taste of real mainstream acceptance. This administration ma...
Share Dialog
Share Dialog
Crypto The Game has been successful by even mainstream standards. It is an Emmy nominated virtual reality show where contestants spend two weeks solving puzzles, making friends, and stabbing each other in the back. In the end the winner walks away with a >$100k. Ok I lied, the game actually uses a little bit of crypto. To participate users must purchase an NFT, but after that the game is entirely played on a standard website and across various messaging apps and organization tools.
The game has what crypto people would refer to as “incentives” in that participation gives you a shot at a large prize. Unlike other crypto apps CTG is not fueled by its incentives. In absolute terms spending 2 weeks playing is probably one of the lowest EV (expected value) uses of time. (Almost) everyone loses money. But that is the magic, how many crypto apps do people use for the -EV love of the game?
CTG is fun, it’s social and people really like it. Few apps can get people to use them, even fewer can get people to come back; CTG is on its second calendar year and it only continues to pull more attention, win more hearts, and onboard more people to the space. It is a lighthouse in an industry that has poured billions of dollars into mainstream use cases with no traction.
The lesson is that crypto should be at most a garnish on a compelling user experience. Dylan and the team obsess over creating beautiful interfaces, social flywheels and compelling storytelling. The fun doesn’t have to be explained. The value doesn’t have to be calculated. Crypto doesn’t need more mechanisms or smart contracts. It needs more applications that people enjoy and want to share.
Crypto The Game has been successful by even mainstream standards. It is an Emmy nominated virtual reality show where contestants spend two weeks solving puzzles, making friends, and stabbing each other in the back. In the end the winner walks away with a >$100k. Ok I lied, the game actually uses a little bit of crypto. To participate users must purchase an NFT, but after that the game is entirely played on a standard website and across various messaging apps and organization tools.
The game has what crypto people would refer to as “incentives” in that participation gives you a shot at a large prize. Unlike other crypto apps CTG is not fueled by its incentives. In absolute terms spending 2 weeks playing is probably one of the lowest EV (expected value) uses of time. (Almost) everyone loses money. But that is the magic, how many crypto apps do people use for the -EV love of the game?
CTG is fun, it’s social and people really like it. Few apps can get people to use them, even fewer can get people to come back; CTG is on its second calendar year and it only continues to pull more attention, win more hearts, and onboard more people to the space. It is a lighthouse in an industry that has poured billions of dollars into mainstream use cases with no traction.
The lesson is that crypto should be at most a garnish on a compelling user experience. Dylan and the team obsess over creating beautiful interfaces, social flywheels and compelling storytelling. The fun doesn’t have to be explained. The value doesn’t have to be calculated. Crypto doesn’t need more mechanisms or smart contracts. It needs more applications that people enjoy and want to share.
Slow Tokens
Slow Tokens
6 comments
https://paragraph.xyz/@slow-tokens/crypto-the-games-secret-to-a-successful-consumer-app-dont-use-crypto
Target 1k ppl 😆
I get an error trying to mint this but loved CTG is very powered by Telegram
> I get an error trying to mint this i rest my case
will fix, sorry about that!
Well done