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🌳 Flow

The following are my notes from reading Flow’s overview and token economics documentation back in March of 2021.

Overall Thoughts

  • They’re ambitious and good at their pitch. The plan they’ve laid out is not about NFTs at all: it’s about [[an Ethereum alternative that is NFT-first]].
  • They go by a database model instead of the ledger model other blockchains use. I wonder how Flow tokens are stored.
  • You have to maintain a little Flow in your wallet to pay for storage.

I think they’ll do well if:

  1. Ethereum continues to be slow and expensive
  2. They continue to partner with moat-creating use cases (a video game? Top Shots in Minecraft?)
  3. Flow really proves to be fast and cheap long term
  4. They integrate with OpenSea super well
  5. Create more and better developer tools: creating a specialized NFT should be easy
    • they could make the Wordpress/wix of contract creating: certain actions taken on an NFT must be common
    • Their approach to this so far has been partnering with OpenSea and Rarible.

what are the odds they do well in the areas I outlined above?

  1. High (score: 5)
  2. High - they’re partnered with NBA, OpenSea, and now Rarible. (score: 5)
  3. Unknown (score: 0)
  4. Medium (score: 3)
  5. Low (score: 0)
    • They haven’t started prioritizing small developers. Part of the issue is that Flow tokens aren’t easily available to purchase. So it’s harder for developers to build unless it’s via Big Partnerships.

A conservative score would be: (4+4+0+3+0)/5=11/5=2.2 (low) An optimistic score might be: (5+5+0+4+3)/5=17/5=3.4 (medium)

Worth keeping an eye on. I like the ambition and the team a fair amount. An a16z-backed startup that already has an NBA partnership is nothing to sneeze at.

Inspired by: Flow Overview, Flow Token Economics

Related to: [[🗒️ Crypto]], [[Crypto Investing]], [[NFT]], [[❔ How do I think about which crypto tokens I purchase or invest in]]

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Every post on this blog is a work in progress. Phrasing may be less than ideal, ideas may not yet be fully thought through. Thank you for watching me grow.

Updates

  • : Back in 3/2021, one of the things I thought Flow would need in order to succeed was 'Create more and better artist tools: creating a specialized NFT should be easy'. Given a developer meetup of theirs I went to a while ago, I no longer think Flow wants to be in the business of dealing with consumers. [[🌰 Flow wants to be Stripe not Spotify]]. I've since updated that reason to making more and better developer tools.