{"id":376801,"date":"2025-02-28T21:27:40","date_gmt":"2025-02-28T15:57:40","guid":{"rendered":"https:\/\/dripp.zone\/news\/myriad-champion-for-the-crypto-space-dastan-president-farokh-crypto-news\/"},"modified":"2025-02-28T21:30:35","modified_gmt":"2025-02-28T16:00:35","slug":"myriad-champion-for-the-crypto-space-dastan-president-farokh-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/myriad-champion-for-the-crypto-space-dastan-president-farokh-crypto-news\/","title":{"rendered":"MYRIAD \u2018Champion\u2019 For the Crypto Space: DASTAN President Farokh – Crypto News"},"content":{"rendered":"

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Decrypt<\/i> and Rug Radio\u2019s parent company DASTAN brought its vision for its new prediction market platform MYRIAD to Consensus Hong Kong, with the company\u2019s President Farokh Sarmad arguing that it will be \u201ca good champion\u201d for the crypto space.<\/p>\n

Speaking on the \u2018Predicting Media Success\u2019 panel alongside DASTAN CEO Loxley Fernandes, Sarmad explained that the prediction market\u2019s integration with Decrypt<\/i> and Rug Radio offers a new model for aligning incentives in the media ecosystem. Historically, he said, \u201cthe person who’s gotten the least amount of value from media is the reader, and it should start from there. It’s supposed to be top down.\u201d<\/p>\n

Instead, MYRIAD\u2019s dynamic participatory model realigns incentives \u201cfrom the bottom back up,\u201d he explained. \u201cThe participant actually gets a piece out of it, gets to put the reputation on-chain, gets to participate within the network and gets a piece of that network back to it.\u201d The benefits flow upward, he said, to the \u201ccreator that is empowered by the participant, and then the people that are responsible for it all.\u201d<\/p>\n

The cornerstone of DASTAN\u2019s new media ecosystem, MYRIAD seamlessly integrates on-chain prediction markets and Quests with content from Decrypt<\/i> and Rug Radio. Since its mainnet launch on Abstract<\/a> in January, MYRIAD has seen over 415,000 new signups via Abstract Wallet, and reached a total of 1.2 million predictions.<\/p>\n

DASTAN CEO Loxley Fernandes and President Farokh Sarmad. Image: Decrypt<\/figcaption><\/figure>\n

Through MYRIAD, users \u201cmore often than not, won’t be served ads, but rather served opportunities to participate in the content funnel,\u201d said DASTAN CEO Loxley Fernandes, explaining that the platform creates a \u201creciprocal environment.\u201d<\/p>\n

\u201cInstead of treating the consumer like the product and trying to extract from them,\u201d he said, the platform enables users to \u201cparticipate in the creation of the news cycle and help us find sources of truth, and then, of course, rewards them and incentivizes them for doing that.\u201d<\/p>\n

Rug Radio\u2019s Web3 Art and Culture Summit<\/h2>\n

The on-stage discussion formed part of Rug Radio\u2019s wider presence at Consensus, with the media company\u2019s Web3 Art and Culture Summit showcasing brands, creators, entrepreneurs and developers using Web3 technology to redefine culture and art.<\/p>\n

In a discussion on \u201cDoes Crypto Have a Culture?\u201d panelists weighed in on how the landscape is evolving.<\/p>\n

For Sophon Founder and CEO Sebastien, crypto culture has hitherto been defined by communities \u201cmaking money together.\u201d<\/p>\n

He stressed the need for leveraging airdrops to build lasting communities around new projects, pointing to the launch of HYPE as an example. \u201cThey launched low enough that even if you didn’t use HYPE or you didn’t participate in the air drop, you could still buy it and continue to make money with it,\u201d he explained. \u201cBecause they launched at a relatively low valuation, and then everybody becomes a community member.\u201d<\/p>\n

MOG Creative Director Mike Three noted that the crypto space is undergoing a \u201cculture shock\u201d as long-term crypto holders and crypto natives face an influx of \u201cnew entrants that don\u2019t necessarily share the same ethos of decentralization and caring about freedom to transact in a permissionless way.\u201d<\/p>\n

\u201cA lot of the friction happens with having expectations of new participants that are unfair,\u201d he said, adding that much of the conversation around onboarding focuses on financial incentives. \u201cBut how are we onboarding them culturally or philosophically?\u201d he asked.<\/p>\n

Different Web3 brands require different approaches to building a brand identity and culture, said Pedro Gomes, Founder and Director of the WalletConnect Foundation.<\/p>\n

For WalletConnect, \u201cthe best analogy that you can make is a little bit like Visa,\u201d Gomes said, explaining that consumers use brands like Visa and MasterCard on an everyday basis while not consciously interacting with them. \u201cEvery bank relies on them for pretty much every payment that we use, on a daily basis\u2014whether it’s buying a flight ticket to go to Hong Kong or to pay for coffee, it’s something that just exists and you trust it because it’s everywhere.\u201d<\/p>\n

WalletConnect is trying to replicate that \u201csafe and seamless experience,\u201d he explained, adding that, \u201cas long as you use WalletConnect, you will have a great experience, and you are not bound by any partner that we have.\u201d<\/p>\n

For Sarmad, the key lesson from the day was that \u201cPeople want to rally behind good products and apps.\u201d He pointed to the examples of the panelists, with MOG being \u201can older meme coin that has built a community over almost two years now,\u201d and WalletConnect being \u201ca product that\u2019s used by tens of millions of people.\u201d<\/p>\n

\u201cPeople are starting to really want to support proper founders in the industry,\u201d he said, adding that they, \u201creally want a return to culture.\u201d<\/p>\n

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Decrypt and Rug Radio\u2019s parent company DASTAN brought its vision for its new prediction market platform MYRIAD to Consensus Hong Kong, with the company\u2019s President Farokh Sarmad arguing that it will be \u201ca good champion\u201d for the crypto space. Speaking on the \u2018Predicting Media Success\u2019 panel alongside DASTAN CEO Loxley Fernandes, Sarmad explained that the […]<\/p>\n","protected":false},"author":2,"featured_media":376802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-376801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/376801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=376801"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/376801\/revisions"}],"predecessor-version":[{"id":376803,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/376801\/revisions\/376803"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/376802"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=376801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=376801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=376801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}