Summary
TL;DR: Farcaster’s social media platform Warpcaster has gained popularity for its feature that allows external sources to be displayed within the feed. However, many of the popular posts on the platform have been promoting NFTs and other assets, leading to complaints about excessive financialization. Farcaster co-founder Dan Romero is not overly concerned about this, stating that there are creative uses of the platform that are not focused on financialization. In other news, the NBA is being sued for not blocking a promotional deal between bankrupt crypto firm Voyager Digital and the Dallas Mavericks. The suit claims that the NBA had a responsibility to review all marketing campaigns related to the league. Voyager’s law firm, McCarter & English, is also named in the suit. Additionally, NFT collection Nobody saw significant sales volume this week, and Mastercard announced a Web3-powered trivia competition.
Key Points
1. The social media protocol Farcaster gained popularity due to the success of its client, Warpcaster. It released a feature called Frames that allows external sources to be displayed within the Warpcast feed, attracting users and developers to the platform.
2. Farcaster’s usage growth has been significant, with many of the top posts using Frames to promote NFTs and other assets. Some users have expressed concerns about the influx of altcoin references on the platform.
3. The NBA is facing a class action lawsuit over a promotional deal between the Dallas Mavericks and now-bankrupt crypto firm Voyager Digital. The suit alleges that the NBA was negligent in not blocking the deal, and Mark Cuban, the owner of the Mavericks, is also facing a lawsuit related to the promotion.