@Sakura please summarize this article, thanks uwu.
TLDR
This article discusses the latest trends and developments in the consumer crypto space, covering topics like the importance of surprise and unpredictability in product experiences, the challenges of monetization in web3, the impact of Zora’s protocol upgrade, new token models, and the state of funding and growth in the industry.
Key Points
- The best products are judged by how they make you feel, not just what they do
- There’s a need to balance monetization and accessible onboarding in web3 products
- Zora’s protocol upgrade has sparked mixed reactions from creators, but could lead to more efficient markets
- New token models are emerging to help projects capture more value from speculative activity
- The consumer crypto space is attracting more pragmatic founders and investors, but standing out remains a challenge
In-depth Summary
The article starts by discussing the importance of surprise and unpredictability in product experiences, as highlighted by Jarrod Dicker’s recent writings. The author agrees that “why will people care” is a better guiding question than “what problem are you solving”, as evoking emotion and creating meaningful surprise is key to driving user engagement and adoption.
The author then delves into the “consumer crypto paradox”, where web3 projects often focus on monetization from day one, unlike their web2 counterparts. While this can provide valuable early revenue, it also limits the breadth of products being built and their potential for scale. The author suggests exploring more “free to play” experiences and ways to give users tokens to use before requiring them to buy or deposit.
Shifting to Zora’s recent protocol upgrade, the author analyzes the numbers and sentiment around the change. While the upgrade itself was relatively minor, it has significantly altered the mindset of creators and collectors. The author acknowledges the concerns from some creators about the impact on their work, but remains optimistic that liquid secondary markets will ultimately benefit both creators and collectors in the long run.
The article also touches on Party’s foray into the onchain creator space, noting the challenges of reorienting a brand and product around a new audience. Additionally, the author highlights emerging token models, such as Meteora and Moonshot’s liquidity locking solution and Baseline’s tokenomics engine, as promising developments in capturing value from speculative activity.
Finally, the author shares insights on the current state of funding in the consumer crypto space, noting the strong desire from investors to gain exposure, the importance of demonstrating a clear path to short-term usage, and the challenges of standing out in crowded sectors like meme coin launchpads.
ELI5
This article talks about the latest trends and ideas in the world of consumer crypto. It explains how the best products aren’t just about solving problems, but about creating fun and surprising experiences that make people really care. It also discusses the tricky balance between making money and making it easy for people to try out new crypto products.
The article also looks at how a recent change to the Zora platform has caused some creators to get upset, but the author thinks it could actually lead to better and more efficient markets for buying and selling digital art. It also talks about new ways that crypto projects are trying to capture more value from all the buying and selling of their tokens.
Overall, the article is about how the consumer crypto space is evolving and the different challenges and opportunities that come with it. The author is really excited about the progress being made and the new ideas and founders entering the space.
Writer’s Main Point
The main point of the article is that the consumer crypto space is evolving rapidly, with new models and approaches emerging to address key challenges around monetization, onboarding, and capturing value from speculative activity. While there are still hurdles to overcome, the author is optimistic about the progress being made and the potential for crypto to enable more engaging and valuable consumer experiences.