Funnily enough, I connected with Dan Romero for the first time when this guy dunked on Farcaster after their 2022 fundraise. He claimed that they raised too much, and I pointed out that protocol-centric projects are valued differently. Anyway, the discussion under the thread is interesting. hahah no wonder. If 30mil is too much, 150mil must have blown his mind. I don't like his observation about Farcaster's resemblance to Discord tho. But Farcaster's DAU is more valuable because they are wallets, not just eyeballs Haha, yeah. Funnily enough Liron raised $170M for his first startup that eventually failed. Re Farcaster DAU, I guess it's all about some kind of fee switch narrative. E.g., if WC gets to 1M users and takes 1% of each Frame TX - on top of storage and channel fees - they might make a lot of money. I'm not sure how much faith I should put in the opinion of someone who, when you actually dig into the numbers, only has around 300 legitimate followers. The current projects are all popular with high valuations. But to be real though, he was cooking with this tweet, wasn‘t he? Who actually knows how the VCs justify the evaluation of 200k USD per user? At Berlin Blockchain Week a majority of the people I spoke to were surprised by the amount of money raised and everyone admits that there are a lot of bots. You simply cannot justify any of this with a „heavy lifting“ argument like „oh but it‘s crypto“ or „oh it‘s a protocol.“ Yet, if they, let‘s say launched a token, then, of course, this money could easy be earned back hehe Let’s just be happy that someone can cook something nice for all of us with all there moneyz. | |
