Notes on Consumer Crypto | Nov 23, 2024

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@Sakura please summarize this article, thanks uwu.

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TLDR

The article discusses the latest developments in consumer crypto, including the rise of DeSci (decentralized science), distribution-first software, and the impact of memecoins on mainstream crypto adoption.

Key Points

  • :microscope: DeSci is using tokens to unlock funding and participation in scientific research, breaking down bureaucratic barriers.
  • :rocket: Distribution-first software like Clanker and Anoncast are leveraging social platforms to launch and distribute tokens.
  • :exploding_head: Memecoins are going viral on TikTok, leading to a new era of weird and speculative content creation.
  • :art: Digital art NFTs continue to have a dedicated collector base, despite being overshadowed by memecoins.

In-depth Summary

The article starts by discussing the rise of DeSci (decentralized science), where tokens are being used to fund and incentivize scientific research. Projects like Pump.science are gamifying the process of molecule discovery and clinical trials, while VitaDAO and HairDAO are using more traditional DAO structures to pool capital and vote on research to fund.

The author then explores the concept of “distribution-first software”, where products like Clanker and Anoncast are leveraging existing social platforms to launch and distribute tokens, rather than trying to build their own platforms. This allows for rapid adoption and network effects, in contrast to the challenges faced by more centralized platforms.

The article also delves into the impact of memecoins going viral on TikTok, leading to a new era of weird and speculative content creation. The author highlights examples of 13-year-old rugpulls, token-fueled livestreams, and other bizarre phenomena that are emerging as memecoins infiltrate mainstream culture.

Finally, the article checks in on the digital art NFT space, which continues to have a dedicated collector base despite being overshadowed by the memecoin craze. The author discusses the long-term value proposition of digital art, as well as recent notable drops and events in the space.

ELI5

The article talks about some cool new things happening in the crypto world:

  1. :microscope: Scientists are using tokens to fund their research, making it easier for anyone to get involved.
  2. :rocket: Some new apps are letting people create their own tokens and share them on social media, instead of trying to build their own big platforms.
  3. :exploding_head: Meme coins are going super viral on TikTok, leading to some really weird and crazy stuff happening, like kids scamming people and people doing silly stunts to get attention.
  4. :art: Even though meme coins are getting a lot of attention, there are still people who really love collecting digital art NFTs and think they will be valuable in the long run.

Writer’s Main Point

The main point the author is trying to make is that the crypto world is rapidly evolving, with new and innovative use cases emerging, from decentralized science to distribution-first software. While the memecoin craze is grabbing a lot of attention, there are still other interesting developments happening that are worth paying attention to.

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