TL/DR:
In this episode, Humpty and Pichi discuss internet connectivity challenges at events, the importance of infrastructure and accessibility, the Moxie protocol, and the Buoy app. The hosts discuss their experiences at a tech gathering with limited internet access and the need for reliable connectivity for Web3 applications. They also touch on the potential of Starlink to improve internet access at events. The hosts share their thoughts on the Moxie protocol, including the challenges of participating in auctions without stable internet and the team's responsiveness to issues. They also discuss the Buoy app and its potential for surfacing content.
The conversation concludes with discussing a need for more inclusive and accessible tools in the creator economy. The talk explores the challenges and potential of Moxie, the reward mechanism of Farcaster. The hosts discuss the need for more visibility of the rewards and how they are growing, as well as the difficulty for new users to understand and navigate Moxie. They also touch on the issue of engagement baiting and the potential negative impact on authentic conversations. The use of Buoy as a research tool is highlighted, along with the importance of authenticity and genuine engagement in the Farcaster community.
The Potential Pitfalls of Fan Tokens in the New Creator Economy
In the third episode of Creators Take Action, hosts Humpty and Pichi dive deep into the emerging world of fan tokens and their implications for the creator economy. As fan tokens continue to gain popularity, this discussion is timely, highlighting both the opportunities and challenges these digital assets present.
The Infrastructure Challenge: Connectivity Issues at Events
One of the key points raised in the episode is the critical role of reliable internet infrastructure at events, particularly those involving Web3 applications. Both hosts share their experiences with inadequate internet connectivity at a recent tech gathering, which led to a series of complications, including issues with live streaming and fan token activations. Humpty recounted his struggles with YouTube during a stream, while Pichi humorously reflected on a chaotic scene where attendees, desperate to claim their base names, were met with a slow and unresponsive network.
The situation was further complicated by the event’s campus Wi-Fi, which was insufficient to handle the volume of users and blocked many essential websites. The team behind Bend (formerly known as Beam) had to step in with Starlink terminals to stabilize the connection. This quick fix, though impressive, highlights a larger issue: the digital divide. Not everyone has access to high-speed internet, which can severely limit participation in the creator economy, especially in live, real-time engagements.
The Moxie Protocol: Navigating the Fan Token Landscape
The episode also explores the complexities of using Moxie, a Farcaster fan token protocol. Humpty and Pichi shared their experiences with the platform, highlighting the difficulties in participating in auctions and other real-time activities without stable internet. They praised the Moxie team for their responsiveness and commitment to fairness but also pointed out areas for improvement, such as making the rewards mechanism more visible and easier to understand for new users.
Pichi, in particular, expressed concerns about the learning curve for those unfamiliar with the platform. Concepts like soulbound NFTs, cast actions, and far scores can be a bit much, especially for users who are not crypto-native. This steep learning curve can lead to a sense of exclusion, potentially alienating new users and hindering broader adoption.
@thedatadood and Pichi on @unlonely_app explored topics related to internet connectivity at events, the Moxie protocol, Buoy app, among others 
In this short from the conversation, Pichi talks about the challenges and…
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Engagement Baiting and the Risk of Inauthenticity
Another significant issue raised in the episode is the potential for engagement baiting, where users prioritize interactions with high-profile accounts to gain financial rewards rather than engaging in genuine conversations. Pichi voiced her concerns that this could lead to a decrease in natural engagement as users chase "far scores" instead of meaningful interactions. This behaviour not only affects the quality of conversations but could also drive away core users and builders who value authenticity.
She expresses concern that the current system, where high-profile users have significantly higher "far scores" that can be leveraged for monetary rewards, may lead to unhealthy engagement behaviours. This could result in natural engagement decreasing as users prioritize attempting to gain the attention of high-profile users for financial gain.
The discussion also touched on the role of community policing in maintaining the integrity of the platform. Pichi emphasized the importance of discouraging rage baiting and other forms of inauthentic engagement, which can harm the overall health of the community.
She also mentions the issue of spam and disingenuous interactions, which can be detrimental to both creators and users. Pichi believes that adjustments need to be made to the system to prevent these issues from persisting and potentially driving away core builders and users.
The Role of Tools Like Buoy in Enhancing the Creator Experience
Despite these challenges, the hosts expressed optimism about the tools available to creators in the new economy. Humpty and Pichi highlighted Buoy, a research tool that allows creators to search for and engage with conversations across platforms. They praised its ease of use, particularly on mobile devices, and its ability to surface relevant content and conversations that might otherwise be missed.
He expresses excitement about the ability to easily search for topics and conversations, discover new perspectives, and engage with communities.
For Pichi, Buoy has been a game changer, enabling her to manage the overwhelming volume of notifications and focus on genuine interactions. She highlighted the tool’s "magic search engine" as a valuable resource for expanding her network and improving her research process.
Pichi speaks on the importance of effective notification management for creators and the value of tools like Buoy in helping them navigate online conversations.
Community Comments
Humpty brings up some casts to note comments on Moxie, starting with Samantha, also known as the "crazy candle person," sharing her experience with Moxie. She expresses her concern about being on a "hedonic treadmill," unable to disable earnings on specific casts, leading to a loss of authenticity and engagement. Jason and Blue, among others, comment on how creators could potentially benefit from disabled earnings or making the community more authentic.
The discussion also touches upon the potential consequences of creators quitting the platform, such as the impact on fan tokens' value and the possibility of fan token-gated channels. The creators explore the potential of using fan tokens to reward fans and share rewards within a community but also acknowledge the double-edged sword of this new layer of pressure and potential manipulation.
Moving Forward: A Call to Action
As the episode draws to a close, Humpty and Pichi encourage creators to stay engaged and continue producing content despite the potential pitfalls of fan tokens. They acknowledge the challenges but also emphasize the excitement and innovation driving the creator economy. With new tools and platforms emerging daily, the hosts reassure creators that solutions to these issues are being developed and that community support is always available.
In their final call to action, the hosts urge creators to lean into the opportunities presented by the new economy, start their own channels, and use the resources at their disposal to enhance the fan experience. The message is clear: the future of the creator economy is bright, but it requires a commitment to authenticity, inclusivity, and continuous learning.
Stay Connected and Resources
The discussion in this episode of Creators Take Action offers an informed view of the potential pitfalls and opportunities in the fan token economy. As creators navigate this evolving landscape, the importance of reliable infrastructure, genuine engagement, and user-friendly tools cannot be overstated. While challenges exist, the possibilities for growth and innovation are vast, making it an exciting time to be a part of the creator economy.
