On September 17th, STEPN co-founder Yawn Rong, speaking at the "Strategies and Inspiration for Online Social Exploration" roundtable at FarCon Asia, the first major offline event in the Farcaster ecosystem in Asia, stated:

"When a project becomes popular solely because of token incentives, it often ends up being worthless. Perhaps we can discuss why you would want to own something on-chain beyond token incentives. No one has figured out how to get users to spend money on products, and if they don't spend money on the product, it means the product hasn't reached a standard they're willing to pay for. Based on analysis from the past 3 years, I believe achieving this requires very strong growth. Sustain operations for a while, and you'll have key users, and their spending will increase accordingly.

I believe that for most AI companies, they haven't figured out how to handle their product and how to monetize it. I don't think incorporating blockchain or cryptocurrencies will solve this. So, I'm not saying I'm not optimistic about AI. It's possible that AI will dominate in the next 10 to 20 years, but we need to figure out how this technology will develop. Firstly, how to monetize, secondly how to grow. For AI companies, they're just burning investors' money, although it's still early days.

FarCon Asia, the first major offline event in the Farcaster ecosystem in Asia, was jointly hosted by Tako Protocol, BlockBeats and Jam. This conference aims to explore and showcase the innovative achievements of the Farcaster ecosystem and the future prospects of Web3 social, breaking the stereotype of one-way output in traditional financial crypto conferences. FarCon Asia is expected to attract over 500 attendees, including Farcaster ecosystem builders, active users of the Farcaster ecosystem in Asia, VCs and well-known investors, and senior researchers.