The Ledger
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Al-Naji: DeSo raised 5,000 BTC via 44,000 automated transactions before incorporating
“You know, that 5000 Bitcoin I mentioned all that money actually came in before there was any corporate entity set up to do anything. And so essentially the way it worked was the blockchain was running, and if you sent Bitcoin to this treasury wallet the blockc…”
Al-Naji: The next crypto wave will be creator coins after NFTs
“This wave was about NFTs. I think the next wave is going to be about creator coins, also known as social tokens.”
Al-Naji: DeSo is the only blockchain solving post storage and indexing
“The biggest one is like the storage and the indexing of posts, which is a very hard problem for blockchains to solve. And I don't think anyone Other than Deeso really has had a good solution to that.”
Al-Naji: Top VCs bought ~$30M of DeSo, none owning >5%
“I think about thirty million dollars worth was that which is, I think, not, not a huge percent, and no one has, no one owns more than five percent of the supply from that.”
Al-Naji: Open social protocols will shift value accrual to creators
“I think we might see you know, basically a splitting of the market by a bunch of different apps that kind of charge small fees to allow the creators to do what they do, but that's competitive as opposed to monopolistic and will hopefully result in a lot more o…”
Al-Naji: DeSo NFT artist coins are underpriced relative to royalty cash flows
“Really the thing that I you know, like my, the hedge fund side of me really likes is NFT artists, because for NFT artists even today, not theoretical all of them set royalties that go to their coins. And so there's real cash flows there that are often like tot…”
Al-Naji: DeSo's core strategy is to avoid building end-user products
“But really, like, Sean, you're touching on our strategy, which is, we actually don't want to build any products at all. I didn't even want to launch BitClout, ideally.”
Al-Naji: Over 100 apps are being built on DeSo
“Now they're actually over a hundred apps being built on the actual blockchain itself, which we call decentralized social or DSO.”
Al-Naji: About $80 million is currently invested in DeSo creator coins
“I think right now there's about eighty million dollars invested in people's coins, which to me is actually really low.”
Al-Naji: I told celebrity investors to hold off using BitClout early
“No, no, that's actually mostly me. So we have a lot of people who are, like, really big names, not just in VC, but also, like, in Hollywood and all that stuff who bought DSO. And they asked me, like, Natter, like, is now the time, like, to really, like, bring …”
Al-Naji: Ad business models force platforms to keep content databases closed
“Today, you know, Facebook, Twitter you know, they're really about monopolizing content. Like you said, keeping it under lock and key so that they can show ads on it. And if they allow anyone else to build an app, like if they allow another company to build an …”
Al-Naji: Next social wave will separate blockchain backends from apps
“I think that with this kind of next wave of social, I think what we're going to see is kind of a separation of concerns where you have this blockchain, which is the diesel blockchain that powers, you know, kind of the back end of all of these things. And then …”
Al-Naji: A creator coin generated over $100K in royalties on DeSo
“NFTs are already there and creators have made hundreds of thousands of dollars off of that, like tens of thousands. I think for one of them, they had over a 100,000 dollars flow to their coin already through the creator coin royalties.”