Founder Lessons with The Jupiter and Tensor Teams | EP 38
Feb 21, 2024
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Founders of Jupiter and Tensor share insights on crypto incentives, trading NFTs efficiency, Ethereum vs. Solana, future of NFT space, Solana innovations, challenges in blockchain tech, tribalism in crypto, and financialization of assets on Solana.
Community-building is crucial for NFT projects' success and growth.
NFTs have diverse potential uses beyond community-building, including tokenizing real-world assets and financial tools.
Solana stands out for its market ecosystem offering diverse tokens and markets for seamless transactions.
Tensor aims to provide a liquidity layer for trading all non-fungible assets, including real-world assets, on the blockchain.
Deep dives
The Importance of Building Strong Communities in the NFT Space
In the podcast episode, the importance of building strong communities in the NFT space is emphasized. Community-building is seen as a key strength for NFT projects, with examples like D-Gods and Pudgy Penguins being highlighted. These communities provide a sense of belonging and connection for individuals, driving engagement and loyalty. Founders are advised to focus on building and nurturing their communities, as it can lead to the success and growth of their projects.
The Diversification of NFT Use Cases
The podcast discusses how NFTs are not limited to just community-building but have the potential for diverse use cases. While community-focused NFT projects dominate the current landscape, there are opportunities to explore NFTs as a form of digital ownership for real-world assets or as a financial tool. The emergence of new standards, like ERC 404 and SPL 22, is expanding the possibilities for NFTs beyond just JPG trading. NFTs can become a means to tokenize and trade various assets, fostering global liquidity and creating new financial avenues.
The Growth and Potential of Solana's Market Ecosystem
The podcast highlights Solana's potential as a market ecosystem and how it can offer a critical mass of markets and use cases. By having various tokens and markets on a single chain, Solana aims to provide a seamless experience for users, enabling cross-asset transactions and fostering community growth. The presence of a thriving market ecosystem on Solana can propel the adoption and success of projects built on the network, attracting users, liquidity, and capital. Solana's focus on creating a diverse and liquid market environment sets it apart from other chains.
The Difference Maker: Community, Liquidity, and Advantages of Solana
The podcast concludes by emphasizing the significance of communities, liquidity, and the advantages offered by Solana. Building strong, engaged communities is seen as a crucial aspect of NFT projects, contributing to their success and growth. The potential for diverse NFT use cases beyond community-building is explored, highlighting the opportunity to tokenize real-world assets and facilitate innovative financial applications. Finally, Solana's critical mass of markets, focus on community, and ecosystem advantages position it as a top choice for builders and projects seeking growth and success in the NFT space.
The importance of Solana for the meme coin community
Solana is the only chain with a strong presence and support for meme coins, making it an important platform for the meme coin community to thrive.
The challenges for Solana to compete with Ethereum
While Solana has a strong community and features like liquidity and fast transactions, it faces challenges to surpass Ethereum, such as liquidity limitations, maturity of institutional players, and a larger developer base.
The potential for Solana to bring real-world assets on chain
Solana has the potential to bring real-world assets on chain, such as stocks, by providing an efficient and transparent platform for security token issuance and trading, making it an attractive alternative to traditional markets.
The future of Tensor and its role in the NFT ecosystem
Tensor aims to become a liquidity layer for trading all non-fungible assets, including NFTs. They plan to support the trading of real-world assets as NFTs and aim to provide the infrastructure for the financialization of assets on the blockchain.
Imran and Qiao invited Meow, Richard Wu, and Ilja Moisejevs, founders of Jupiter and Tensor to share founder lessons and talk about what's happening on Solana.
No BS crypto insight for founders.
Timestamps
(00:00) Intro (01:05) Welcome to Good Game (01:44) Thoughts on the Points Meta (06:00) Is the Points Meta Here to Stay? (08:09) Incentives in Crypto Never Goes Away (09:10) Out of All Copy Pasta in the History of Crypto, Only One Worked (21:31) How Do We Make Trading NFTs More Efficient (25:08) Finding Your Wedge (27:22) New Segment: Crypto Startup Stories (33:11) "When Jupiter NFTs?" (37:21) Where is the NFT Space Going? (47:07) Does Tensor Feel Threatened by Aptos and Sui? (50:10) Some Reasons Why Ethereum Would Beat Solana (01:01:34) Solana Token Extensions (01:04:09) Solana Firedancer - When and How Much Faster? (01:09:34) Why Polkadot and Cardano Didn't Take Off (01:13:02) Is Crypto Still Going To Be Tribal 10 Years From Now? (01:15:48) Thoughts on Blur Launching Blast (01:19:41) What is The Future of Jupiter and Tensor? (01:24:25) Stablecoin Skyrocketing in Countries that Don't Have Financial Rails (01:29:59) When Jupiter/Tensor Token? (01:30:55) Why Shill Alliance?
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DISCLAIMER: The views expressed herein are personal to the speaker(s) and do not necessarily reflect the views of any other person or entity. Discussions and answers to questions are intended as generalized, non-personalized information. Nothing herein should be construed or relied upon as investment, legal, tax, or other advice.
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