Se Co-founder of fomo on crypto consumer apps
di Freddenver: Crypto
The Se Co-founder of fomo breaks down why other crypto consumer apps didn't succeed in the way people hoped. Those apps are very successful in doing certain things in some areas, but they fell short in longevity and bringing social finance as a category into the rest of the world. There are lessons to be taken from people in the past and the way they did things. The conversation about these apps is nuanced. Something like fomo and Farcast are very different, even if towards the end of their product they looked more similar than they did in the first few years. Social finance itself has been a category that's not seen a lot of traction because it's centered around behaviors that people aren't innately interested in. You need an experience that is on its own first class right, whether it's crypto or whether it's not. A lot of apps in the past thought you could slap social onto something people weren't really interested in and then it would cause more traction, but adding social to something people aren't interested in doesn't work; it can only turbocharge the effort if the core experience is desired.
Trascrizione (en)
measured in a lot of different ways. Like, you know, in some areas, those apps are very successful in doing certain things. I think maybe where they fell short was longevity and, you know, bringing in social finance as a category into the rest of the world. But there's obviously a lot of lessons to be taken from people in the past and the way they did things and things that didn't do as well. But I think it's a very nuanced conversation. You know, I think something like FOMO and Farcast are very different, where maybe towards the end of their product, they looked more similar than it did, you know, in the first few years. But I like to think that social finance itself has been a category that's not seen a lot of traction because it's been centered around behaviors that people aren't innately interested in. So you need to be able to offer an experience that is on its own first class, right? It is so good, whether it's crypto, whether it's not, whether it's, you know, this new thing, this old thing, it is actually a fundamental experience that is very desired. And when that has meaningful traction before you can actually put the social around it and it needs to be something that can stand on its own. I think where a lot of apps in the past have fell short is they just thought that you can slap social onto something that people weren't really interested in and then it would cause more traction, when in reality it actually is something that can either turbocharge the effort.
