#70 - CoinList Cofounder Andy Bromberg and Ramon Recuero

Crypto Collectibles

Crypto collectibles are gaining traction, driven by the ERC 721 protocol on Ethereum, which allows for unique digital assets. Andy Bromberg highlights the technical challenges and opportunities in creating these collectibles, noting that while the infrastructure is complex, the actual creation of collectibles is straightforward 1. He emphasizes the potential for these assets to accrue value quickly due to their ease of production and the growing interest in the space. Craig Cannon adds that most users are more interested in the product's functionality than the underlying technology 1.

We're just now getting to a place where the user bases are big enough, the incentives are strong enough, that real product builders, real product people are coming in and thinking about how to build it.

--- Andy Bromberg

This shift towards professionalization is expected to drive further innovation and adoption.

   

Network Effects

The power of network effects is crucial in scaling blockchain networks, as they allow for rapid growth and innovation. Andy Bromberg explains how analyzing transaction data on public ledgers can help identify potential users for new platforms, thereby leveraging existing networks for growth 2. This approach can bootstrap network effects by targeting users who are already engaged in similar activities. Ramon Recuero adds that attracting top talent further enhances these effects, creating a cycle of growth and innovation 3.

You can bootstrap network effects off of existing networks because all their transactions are public is a really cool idea.

--- Andy Bromberg

This strategy is still in its early stages but holds significant promise for the future of blockchain.

   

User Onboarding

Onboarding users to blockchain networks presents unique challenges, particularly for non-technical users. Andy Bromberg stresses the need for better user interfaces to simplify the process, citing examples like Bloom's airdrop, which streamlined user interaction through intuitive design 4. He argues that making blockchain applications more accessible involves clear explanations and easy-to-use interfaces. Ramon Recuero suggests that reducing the need for complex tools like Metamask can also aid in user adoption 4.

The answer to that question, which is a very good one, how do you onboard users to a protocol if the users are non-technical, is make it obvious what is happening and make it easy to click buttons and type things and have that happen.

--- Andy Bromberg

As the ecosystem matures, these improvements are expected to drive broader adoption.