Hi, Web3 family! In the previous video, we discussed socialfi,
or decentralized social media, which has become increasingly popular. Today, I want to talk about the hottest socialfi
project - Farcaster. The crypto community is obsessed with Farcaster. Builders and active members are joining. Maybe you must also do the same? Watch this video and decide! Farcaster is an open protocol powered by Optimism’s
OP Stack for a decentralized social network that gives ownership of the relationship between
consumer and creator directly into the hands of the consumer. Farcaster describes itself as a sufficiently
decentralized protocol. If two users can connect and communicate with
one another, even if the remainder of the network wishes to stop them from doing so,
the network is sufficiently decentralized. Farcaster has raised a total of $30M over
1 round from venture funds such as Andreessen Horowitz, First Round Capital, and Floodgate. Farcaster is not an application; it’s a
whole ecosystem. Let me describe some projects built on this
protocol. Icebreaker: A Farcaster-based, privacy-preserving
professional network. Seemore is a place for creators to set up
their creator pages and profiles, showcasing their work and enhancing their relationships
with their fans. Page creation is assisted and automated. Paragraph: A web3-native publishing platform
with features that help writers build a community around their newsletter using web2 and web3
tools. Supercast is an alternative client to Warpcast,
the current biggest client on Farcaster, with a slightly modified experience and enhanced
UX features. By the way, I met Wojtek, the founder of Supercast,
at the ETHWarsaw meetup. He shared a lot of information about growing
on Warpcast. The Warpcast social media is built on the
Farcaster protocol, so anything a creator posts is distributed to their audience unless
and until the consumer decides to unfollow them. No third-party intermediary can snip that
connection. The app is similar to Twitter. Users can post a 320-character cast, post
media, reply, recast, direct cast, and use encrypted messaging. Recently, Frames were introduced on Warpcast. It’s an integration for turning static web
content on a cast into an interactive experience. Developers can use Frames to create polls,
live feeds, and responsive commands for their apps directly in a cast. Farcaster Network page shows that the Warpcast
app has more than 260 thousand total users and more than 6 thousand new users per week. Dan Romero, the co-founder and CEO of Farcaster,
expressed readiness to onboard new users from the USA and pay their gas fee in the amount
of $5. It’s crucial to onboard as many users as
possible. This is a tricky question because this social
media platform focuses on crypto natives and tech-savvy individuals- at least now. The interface is not intuitively understandable,
and the topics are niche and focused on Web3 culture. How will they attract a mass audience? Only hundreds of millions of users can make
a social media platform thrive. We’ll see it in the near future! Do you already have an account on Warpcast
or any decentralized social media platform? If so, share your experience in the comments. Thanks for watching, and see you next week!
