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What I Learned About Crypto’s Future From Basecamp and FWBFest

In the mountains of Idyllwild, CA, a convergence of technologists, artists, and optimists surrendered themselves to the future. I had the opportunity to spend two recent days at Basecamp, Base’s summer retreat, followed by two more at FWB FEST (Friends With Benefits’ annual gathering), where around 1,000 attendees enjoyed music, art, and ideas while exploring the frontiers of on-chain technology and culture. These experiences provided me with insights about the future of blockchains. Here are my six key takeaways.

Subculture-market-fit in blockchainsThese events validated a thesis I have grown to believe: mass adoption of blockchains will emerge when people outside the current crypto community use our tools to create or supplement their own niches. This concept hinges on new adopters using blockchains to spread value and secure trust within their own communities, just as the initial crypto cohort has done. New adopters won’t join a single monolithic onchain community; instead, they’ll perhaps create their own. Despite these diverse creations, we’ll all remain connected by the underlying blockchain, making "onchain" a verb for human connection.

Interestingly, the social layer of crypto inherits more from the protocol layer than we often realize. Just as our codebases begin to exhibit modularity, our cultural bases will too, this is because building modular expands the scope of what can be built in the first place, thus inviting more contributors.This core principle of blockchains allows individuals to join whichever subculture they prefer without being detached from the whole. In a world increasingly divided, the shared global ledgers of blockchains keep us connected. I look forward to seeing more modularity in both cultural and technical terms emerges as sprouts within broad ecosystems like Ethereum.

For a deeper dive into this idea of subcultures, I recommend Paul Dylan Ennis’ article for CoinDesk.Interoperability is the word of 2024When gathering people from all walks of crypto, one topic stands out: user experience, which is closely tied to the concept of interoperability.Interoperability is defined in the dictionary as:

The ability of computer systems or software to exchange and use information.The ability of military equipment or groups to operate in conjunction with each other.

Both definitions resonate with blockchains. From a technical standpoint, interoperability allows different systems, protocols, and applications to exchange and utilize information seamlessly. Imagine navigating blockchains as effortlessly as switching websites without changing your WiFi router.Social layer interoperability, on the other hand, facilitates coordination and collaboration among diverse groups within the space. It ensures that different user groups — developers, artists, investors, community builders — can work together harmoniously, compounding their efforts to build something truly special and lasting.

Thus, interoperability in blockchains enables seamless transfer and deployment of various types of capital: financial, technical, cultural, and human. It allows chains, apps, and people to collaborate, making the interoperable whole greater than the sum of its parts.Opinionated blockspace is on the riseDuring a Superchain panel at FWB fest with BASE, Optimism and Worldcoin, Tiago Sada, Head of Product at Worldcoin, noted that “there will be neutral block space, and there will also be opinionated block space.”

Opinionated blockspace means fewer copy-paste apps and more novel innovations and Interoperability allows for maximum composability across diverse, opinionated blockchains. Previously siloed opinions can now coexist and compound in open gardens or, as the Optimism collective envisions, in one big superchain.The need for neutral groundMagic happens when different skill sets come together. Basecamp and FWBFest were demonstrations of such convergences. At these events, we saw companies work together to compound their experiences and provide greater value to the end user – different companies / protocols helping each other and not feeling territorial, it was a joy to witness.

Leaders like Jesse Pollak, Base’s first contributor, embody the synergy that can exist across different walks of crypto. His dual expertise as a community builder and protocol leader has translated into success for Base. While not everyone needs to be Jesse (he is a 1of1), many in crypto can find similar success by merging or empowering both worlds.While specialized conferences (NFT conferences, hackathons, institutional conferences) are essential, generalized open spaces where builders, artists, users, and hobbyists alike can mingle are equally important. We need more neutral spaces like Basecamp and FEST to happen more consistently, both online and IRL.

Culture is a lived experienceWords can mimic but never truly replicate experiences. Meeting people at these events was a joy, and I found myself pondering, “What does culture mean anyway?” Reflecting on this, I realized culture is a lived experience among groups of humans, and I am grateful to have felt it.The challenge now is scaling this culture. My excitement for decentralized social networks lies in their potential to replicate this sense of community onchain, forging trusted, global and spontaneous lifelong connections.

To truly scale this culture, we need more of the on-chain world to resonate with the experiences we've cherished in the Web2 space — those concerts, coffee meetups, and late-night conversations that have shaped our lives. These moments of connection are the bedrock of culture, and Web3 should strive to capture that same essence, seamlessly intertwining the physical and digital worlds.The beauty of being on-chain lies in its ability to unite us with an underlying technology that enhances rather than overshadows these experiences, making every interaction feel meaningful and authentic. By bringing the spontaneity and intimacy of our Web2 experiences into the on-chain realm, we can create a vibrant, lived culture that feels as natural as the ones we've always known.

The value of tough questionsOne underappreciated aspect of events with multiple curators is the tougher questions that often arise. This is not only healthy for the industry’s progress but also for our own. We should use difficult questions as launch pads for reflection.

Why is adoption so low when the tools are incredibly strong?
Are we building things that people actually want?
Are we incorporating people’s feedback into our products?
How can we make DAOs more inclusive?

Events that do not just converge around panels and pre-set interviews, but rather open up the floor to audiences to discuss and question things openly are an important vehicle to drive future success; these spaces allow everyone to become a stakeholder in the future of crypto.As we move forward, the lessons from Basecamp and FWBFest underline a crucial truth: the future of crypto hinges on inclusivity, collaboration, and continuous dialogue. By fostering environments where diverse ideas and perspectives can flourish, we can build a blockchain ecosystem that is not only technically robust but also rich in culture and human connection. Let’s embrace this journey together, ensuring that every voice is heard and every innovation is celebrated. Decentralized systems can benefit greatly by listening to the people they are decentralizing unto, and it is lovely to see progress being made on that front through such events.

–If you would like to connect with Binji, you can find him on X or Farcaster.Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.Edited by Benjamin Schiller.

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Н News

What I Learned About Crypto’s Future From Basecamp and FWBFest

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