Week 6 of Coffee with Captain brought back a little nostalgia with talks about gas wars and “hype” marketing. Do you associate good or bad with those topics? We also dove into Meebits and Doodles, two very different projects. We examined a couple of innovative products utilizing blockchain technology in Farcaster and Mintify. It wouldn’t be right if we didn’t end the week talking about community, which came in the form of community councils. There was even a peek into LFG Ventures, a company looking to give ApeCoin a purpose. Sounds worth taking a look at.
In case you missed any of the shows, below is a small recap of each day with links to the podcast on Apple and Spotify. Links to other streaming platforms can be found on our buzzsprout page. Check out the timestamp if you want to catch the specific interviews.
Gas Wars: The Good, Bad and Ugly
Cap is back and he wants a taste of gas wars for NFTs on ethereum again. Gwei or “gas” is the transaction fee paid on the blockchain. The more users/traffic, the higher the cost. Part of Cap’s call for gas wars is the brokenness of the current whitelist system. How do you get your project in the hands of community members who actually value it? The problem is gas wars don’t build community.
ICYMI: Bored Shorts are officially sold out! Thanks to everyone who was able to pick up a pair. And thanks to all of those who supported the brand. You’ll get an update via email when the product is ready for shipping.
Meebits on the Rise + Doodles’ Team Update
Meebits caught Cap’s eye recently. What does he think is going to happen with them in the near future? 10KTF also seems to have some buzz around it. The Yuga team has done better about being intentional with the community the last couple weeks, but they have to keep up the consistency.
Two Doodles’ team members, Julian Holguin and Austin Hurwitz, join the show to talk about products, updates, community sentiment and more. Partnerships with companies like Crocs and G-Shock help set Doodles up to be one of the premier web3 companies to onboard web2 companies. More impressively, 60% of Crocs purchased were non-holders. The storytelling opportunities Doodles have created with their NFTs show the consistency of the company. And holders with characters used will reap the benefits of partnerships utilizing their specific NFT.
The Death of Hype Marketing in NFTs
Hype marketing was the 2021 playbook and I think participants in the space are ready to leave it in the past. Building hype with an “announcement before the announcement” is becoming less and less popular. Participants want a bigger picture than before. This drives a larger conversation about the consumer. NFTs are a unique asset class, so no one truly knows how to handle them. How do you manage consumer expectations vs consumer patience?
Yuga announced a marketplace collaboration with Magic Eden. What does it mean to be a “preferred marketplace” for a project? Riggs also asked Cap and Steve if they regret not selling their BAYC NFTs? You’ll want to tune in to their response and listen to why Riggs asked the question in the first place.
The Farcaster App + Mintify Trading Terminal
What is the Farcaster platform and should you be using it? Is this the app to challenge X and make the failing app get its act together? Farcaster is an on-chain social app and users seem to be increasing every week. The Coffee Crew talks about the development going on within the platform and how much opportunity there is to try different products. The only caveat is you need a phone number or pay $5 with a card to use the app.
Evan from Mintify joins the Coffee Crew to give us some updates. The company is constantly innovating and shipping updates. Mintify, a modular trading terminal, is being built for the long term. Evan calls the app the Bloomberg terminal for NFT trading. Currently, Mintify only supports Ethereum, but will be expanding to other EVMs in the near future. It’s a highly customizable product that supports more than 20 marketplaces, which gives you access to a ton of liquidity.
The Role of Community Councils + LFG Ventures
Community council nominations are fast approaching for BAYC. The sparks questions such as “what is the role of a council” and “what projects have a community council that does it well?” Doodles and Core (BattlePlan) were two that came to mind for people. Would Cap ever take a council role? Should the advisory role be paid? We got perspectives from both sides of the coin.
Later we get a chance to hear about LFG Ventures and an overview of their AIP. This AIP aims to take 6.9 million $APE and put it to work for the brand. Their venture would benefit both ApeCoin and Made by Apes products.
That’s another week of Coffee with Captain in the books. Thanks again to everyone who supported Bored Shorts and contributed to the sell out! And thank you for showing love for The Everything Token. This is truly the best community! If you missed Week 5, then feel free to catch up here.
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