♣️ Patey Club

Hey there 👋,

This week I revisit how creators can leverage social tokens, something I’ve not written about since the end of the last bull market in 2021, as well as earning rewards by market making NFTs.

Cheers!

Richard (@richardpatey)

TOP PICKS

• Solana Mobile opens pre-orders of its 2nd gen phone (Link)

• Pudgy Penguins up 40% over the last week to over 15ETH floor with Lil Pudgies up to 1.4ETH (+10% today) (Link). Big Pudgies now at 60% price of of Bored Apes.

• Coinbase to list $HONEY token by Hivemapper today (Link)

• Solana did $13 million worth of NFT sales over the past 24 hours (Link)

• $BLUR NFT marketplace token up 34% over last 7 days (Link)

• Blast launches Testnet, and competition/incentive program for dApps to be built on the L2 (Link)

• X announces they have removed support for NFT-verified profile pictures (Link)

FEATURE

Gary Club and Social Connector

I first wrote about creator coins (social tokens) back in 2021, when discussing Bitclout (which I didn’t buy) and also those on the Rally network such as Joe Pulizzi’s $TILT coin (which I did):

$TILT was one of the biggest creator coins at the time, but so was $GARY by top digital marketer Gary Henderson, here’s a screenshot from back then:

But it wasn’t until late last year when I joined Gary.Club, a crypto creator community. I created my profile and activated as a creator which created my own supporter program:

The platform is powered by Social Connector and enables community members to support you by swapping $GARY to purchase your own coin. One of my first supporters was Gino who is from the Netherlands and met up with me at Solana Breakpoint back in Amsterdam in November of last year. He was super friendly, and introduced me to other members such a Fuzzy, and I’ve made connections with other great people since (thanks TC and Camille).

What I hadn’t quite realised, until I had a call with Gary last week, was that in activating my supporter program, Social Connector had actually created my own token on Solana which is backed by $GARY and is on a bonding curve. As such early supporters get access to my Telegram group (Patey Club) for a small amount of $GARY tokens, whilst later ones have to pay more.

On top of this, there is a Giraffe Tower NFT collection you can purchase and use as your PFP inside (and outside) of the club, where you get rewarded in $GARY for holding.

I’ve created an AMM pool for Giraffe Tower on Tensor, the leading NFT marketplace on Solana, which will have a future token drop based on points you earn on the platform.

I am buying and selling 3 giraffes in real time so that I am doubling up points:

By market making I’m getting buy (bid) points, and sell (offer/take) points whilst getting a 2.5% market maker fee.

And my NFTs in the pool are at the floor, providing liquidity (and value) to the collection:

Right now it’s just Gary Club which is leveraging the Social Connector platform, but even so it’s reaching over 1800+ monthly active users:

But Gary has big plans for other creators to adopt the platform to build rewards and gamified marketing systems, and will be releasing it as a protocol with it’s own token ($SCIO), an effective gas free layer 2 on Solana for creators:

I also wrote about creator focussed protocols back in 2021:

Going forward, it would be great to use Social Connector to reward subscribers of this publication for taking an action; or imagine a platform such as beehiiv adopting this kind of technology to reward its users for publishing (I’ve been wanting a $HIIV token for a while!):

Within Social Connector, there is also a Social Pay functionality I can use, similar to Helio I featured at Breakpoint, where I can sell my products in crypto - a web3 version of Gumroad I’m currently using.

And I’ve just bought the patey.club URL to ultimately bring this all together - although the DNS may not be resolved yet as I seem to operate, write and publish newsletters in real time :)

Interested in reaching 4K+ subscribers with your message?

(Or know of a brand who could be a good fit?)

That’s it for this time, happy supporting.

Cheers!

Richard (@richardpatey)

Disclaimer: Nothing in this email is financial advice and I am not a professional investment adviser. I send weekly updates on digital asset news and what I'm doing personally - consider it informational and for entertainment purposes only. There are affiliate/referral links to protocols in this issue, please use them :)