Farcaster's Universe

The Beginning of Crypto Social Listening

March 6th, 2024

Crypto social listening is here, it's awesome, and it's going to be big.

My market analysis projects crypto social's TAM to be 2.3 billion users by 2027.

The graph in the cover photo is an actual network graph for Farcaster and is one of the industry's first example's of crypto social listening.

As of today, there are just over 200,000 Farcaster users. In an upcoming newsletter, I will share the analysis, assumptions, and math for how I arrived at a 2.3 billion TAM by 2027 for crypto social. I will also be sharing insights from JUMP's Farcaster social listening service.

The foundation of my career was built during web2 social, starting with MySpace in 2005 when I launched a MySpace page for Skydive Dallas without asking for their permission. Long story short, I drove so much business for them that they tracked me down and gave me unlimited skydives to "keep up the good work".

While still in college in 2007, I grew Skydive Dallas' Facebook page to be the most followed page in the world within the skydiving industry. At the same time in 2007 while sitting in business law class, I ignored the lecture and launched my first Facebook ads campaign when I received an email notifying me that the self-serve ads platform had just launched.

This early mover experimentation led me to lead social media initiatives for brands such as Chick-fil-A, Dr Pepper, and The Salvation Army to name a few. I was a power user of web2 social listening tools and managed hundreds of millions of dollars in paid social spend over the course of 12 years.

In 2020, I used social listening software to learn about NFTs and social tokens.

This type of research led me to find Jess Sloss and Seed Club. In 2021, I joined Seed Club's second cohort.

Publishing web2 social listening insights also led to Vitalik asking me where I was getting the data I was sharing.

I explained to Vitalik that the word cloud was representative of the broader conversation around his name, not representative of the things he was tweeting himself.

It is insights such as these that can allow leaders and brands to understand the larger narrative around them.

In 2020, I knew a time would come when crypto social listening would blossom. The most exciting thing about crypto social listening isn't just its growth; it is the richness of the insights that can be gathered. As a power user of web2 social listening tools, I can already tell you that crypto social listening will be orders of magnitude more interesting and more important.

While the Farcaster universe image above may look like a globe at first glance, but think of it more like a universe, with each cluster being a set of galaxies. My goal is to explore this galaxy and uncover its mysteries.

In future posts, I will share more insights from JUMP's Farcaster social listening service as well as details about the product we've built.

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