What Happens After Two Years
| Network A | Network B | |
|---|---|---|
| open to public | Nov 2022 | Oct 2023 |
| registered users | 227k users | 1.2m accounts1 |
| MAU | 17k | 125k |
| "true fans" | 3k Plus subs | 5k Pro subs2 |
| monthly cost | $42k | $50k+ for 3 Snapchain nodes |
| monthly revenues | $16k | ~$43k |
| ads | no ads | no "ads", but it's mostly ads |
| gambling | no crypto | crypto is hidden, but it's mostly about gambling |
Network A is Cohost.org, a Twitter alternative social media site that launched in Nov 2022, and shut down on 1 Oct 2024.
Network B is Farcaster, a VC-backed web3 protocol that announced permissionless signups on 11 Oct 2023, and announced a soft pivot on 3 Oct 2025.
sources: Wikipedia + Dune + "I made it up"3
Three[sic] benefits of integrating crypto in a new project:
- provides deep pockets a reason to invest
- incentivizes people to poke around and try stuff, particularly if it's a real project and not a clear scam-in-the-making
- onchain smart contracts (e.g., user accounts) provide transparency, arms-length decentralization, portability, composability. All can outlive the project itself
- self-identifies with tribal associations. Cohost and Farcaster had about 3k true believers around the same time, yet everybody on Crypto Twitter knows the Farcaster brand, while Cohost remained fringe and niche
the count reflects a love-hate relationship with bot accounts: useful agents yay, farmers gtfo↩
Farcaster Pro launched as a $120/yr annual subscription, with the first 10k receiving an NFT. Amateur data analysts at the time discovered ~50% of onchain purchasers showed hard-to-hide patterns of farming intent↩
I am a keen observer, with a very particular set of skills. Skills I have acquired over a very long career. Skills that make me ... difficult ... and Farcaster's co-founders have called me a FUDder, a liar and an engagement farmer. Being conflict averse, Imma just tell you I made it up. Information is all out there, happy to point you to it. DYOR↩