Consumer Crypto: Beyond Web2 Replication

Parker Jay-Pachirat argues that consumer crypto must build on familiar consumer behaviors with better incentives, rather than porting existing web2 apps to blockchains or reinventing the wheel. He cites Friend.Tech, whose daily fees fell 99% from $345k in May 2024 to $3k in June 2024, and says the next wave of apps will focus on real-life activities. Projects highlighted include PuffPaw, a vape-to-earn network on Berachain, and Blackbird, a dine-to-earn platform on Base. Farcaster's daily casts fell 50% from all-time highs after bots left in July 2024, which Gaby Goldberg cites as one possible explanation alongside changes to $DEGEN tip allocation and the Warpcast algorithm.