The Case Against Snoop Dogg’s Web3 Live Streaming App
Article source, here.
TL;DR
The Snoop Dogg founded live streaming app 'Shiller' has some speed humps in the way of its growth.
First up: most of its features exist already exist is some form, on platforms with established network effects (like Twitter and TikTok).
Second: 'Appointment based' content consumption is a HARD nut to crack - remember Clubhouse?
That said, if Shiller can become known as the place to access close-knit Web3 communities, the network effects will naturally begin to develop.
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We know what you're thinking...
'Damn. You guys are coming in hot with that headline.'
You're right. We are.
And it doesn't mean we don't want to see the Snoop Dogg founded live streaming app 'Shiller,' succeed.
We absolutely do.
But right out of the gates, we're seeing some big ol' speed humps in the way of its growth. Speed humps that might end up being brick walls.
Here's what we're getting at:
Shiller is a Web3 integrated live video and audio streaming platform.
Kind of like if TikTok Live had a baby with Twitter Spaces, and that love-child allowed creators to:
"Token-gate their video and audio, share products from commerce sites, and promote popular NFTs."
As well as...
"Receive tips and virtual gifts from their audience".
It's a neat concept, and those are some welcomed features, that solve real problems...
But there are two big issues we see:
The problems Shiller solves, aren't big enough to pull users/creators away from platforms (like Twitter and TikTok) with established network effects.
Which is just a fancy way of saying:
'All of our friends are already on Twitter and TikTok - so we're going to need some crazy new features if we're going to make the jump.'
And while Shiller seems to be offering a smoother live streaming experience, many of its features already exist in some way/shape/form on Twitter & TikTok.
For example: Audio streaming, product link sharing, and NFT promotion can be done using Twitter Spaces + the 'Pinned Tweet' feature.
While live video, split screen interaction, tips and gifts are all available on TikTok Live.'Appointment based' content consumption is a HARD nut to crack.
How do you find most of the Twitter Spaces, or TikTok Lives that you interact with? By first scrolling through each platform's 'For You' recommendation feed, right?
When your core feature is appointment based, it's hard to get people to come back to your app consistently...remember Clubhouse?
And sure, Twitch did it. But their secret sauce was that they were the first to do 'live streaming for gamers.'
Which meant they were able to use their first mover advantage to take marketshare and generate network effects.
Web3 already has an established live streaming platform of choice, and (for better or worse) it's Twitter.
Alright, time to argue against our own concerns.
Here's how we might end up eating our own words...
Plenty of platforms are Web3 friendly, but very few are Web3 specific.
Think about it: NFT projects/artists are all discoverable on Twitter and Instagram, but the dominant 'discovery engines' are still marketplaces, like OpenSea.
Why? Because when you go to OpenSea, you know that all you're going to get is NFTs.
No troubling tweets from your cousin, alluding to the fact that he's racked up another DUI.
No inspirational posts from that one high school friend who thinks being a certified personal trainer means he's the second coming of Gandhi...
Just NFTs.
If Shiller can become known as the place to access close-knit Web3 communities, the network effects will naturally begin to develop.
And honestly, we hope they do!