COINOTAG News reported that on September 17, Yawn Rong, co-founder of STEPN, participated in FarCon Asia, the inaugural large-scale Farcaster ecosystem offline event in Asia. Speaking on a roundtable themed “Strategy and Inspiration for Online Social Discussion,” Rong emphasized that projects gaining fame solely through token incentives often become unsustainable. He questioned the reliance on token incentives for project popularity, arguing that a lack of user spending on products indicates these products fail to meet user expectations. Over the past three years, he noted that achieving substantial growth is critical for sustained operations and increased user investment.
Rong also touched upon the challenges faced by artificial intelligence firms in monetizing their products, stating that blockchain or cryptocurrency solutions alone cannot resolve their revenue issues. He speculated that while AI could become dominant in the next 10 to 20 years, the focus now should be on finding ways to monetize and grow these technologies. FarCon Asia, organized by Tako Protocol, COINOTAG, and Jam, aims to delve into the innovative achievements of the Farcaster ecosystem and expand the understanding of Web3 social networking. The event, expected to attract over 500 participants including ecosystem builders, VCs, and researchers, seeks to redefine traditional views on financial encryption conferences.