a16z Crypto Partner: Early Projects Need Clear Stakeholders, Farcaster Has an Advantage in User Diversity
On September 17th, Jane Lippencott, a partner at a16z Crypto, spoke at the FarCon Asia roundtable titled "Building Decentralized Social Networks: Opportunities and Challenges," the first major offline event for the Farcaster ecosystem in Asia. She said:
For early projects, a cohesive community is needed to attract initial traction. The quality of the community's content is also crucial. A project will only have stronger attachment and higher usage when it has clear stakeholders in the space and their connections are consistent and high quality.
I personally believe that user diversity is very important. Look at the success of Twitter, they have the potential for user diversity. I agree that users may not care if they own their own data, but I think there are many benefits if user data is owned by a network and accessible through different client experiences. I believe that what's more important is that any developer can build experiences utilizing the network. The Farcaster ecosystem is doing a great job of this.