Base Ecosystem

• Fantasy Top, a popular and profitable crypto social game, has migrated from the Blast network to Base.
• The founders cited three primary reasons for choosing Base over other chains like Solana:
  • Distribution: The most important factor was access to Coinbase's massive user base through the new Coinbase wallet "mini app" feature. They believe this is an "insane" channel for user acquisition.
  • Community Alignment: The existing Fantasy Top user base was described as being more "EVM guy" (compatible with chains like Ethereum and Base) and already had a strong presence on Base.
  • Technical Ease: The migration to Base was simple and took only one week due to its EVM (Ethereum Virtual Machine) compatibility.

Takeaways

• This migration is a strong bullish signal for the Base ecosystem. It serves as a major vote of confidence from a successful, revenue-generating application with high user retention.
• The success of Fantasy Top's new free-to-play model, designed specifically for the Coinbase wallet, could be a key case study for how Base can onboard millions of mainstream users into crypto applications.
• Investors should view this as evidence of Base's primary value proposition: leveraging Coinbase's distribution to attract top-tier applications and drive user growth.

Solana (SOL)

• Solana was the other final contender for Fantasy Top's migration. The founders expressed admiration for the Solana community and its "insane BD team."
• The primary reason they did not choose Solana was the technical complexity of the move. The Solana Foundation estimated a migration would take 2 to 3 months, compared to just one week for the EVM-compatible Base chain.
• The founders decided the significant extra work was not worth it since there was "no huge net advantage" over Base for their specific needs.

Takeaways

• This highlights a potential friction point for Solana's growth. While its native ecosystem is strong, its non-EVM architecture can make it difficult and time-consuming to attract established projects from the much larger EVM ecosystem (Ethereum, Base, Polygon, etc.).
• This technical barrier may lead other migrating projects to choose EVM-compatible chains over Solana, potentially slowing its market share growth in attracting existing dApps.

Blast Ecosystem

• Fantasy Top was previously the flagship application on the Blast network.
• The founders explicitly stated that the Blast chain was "obviously dead" and "falling down in theend" when explaining their decision to leave.

Takeaways

• This is an extremely bearish signal for the Blast ecosystem.
• The departure of a top application, combined with such direct and negative commentary from its founders, indicates a significant loss of developer confidence and momentum on the chain.
• This could signal a continued decline in user activity, total value locked (TVL), and overall relevance for the Blast network.

Ethereum (ETH)

• ETH is used as the primary monetary reward within the Fantasy Top game, alongside in-game card rewards.
• The total rewards distributed to "heroes" (the influencers in the game) amounts to $3 to 4 million at current ETH prices.
• The founders noted that reward values were higher when the price of ETH was around $4,000. The best players can consistently earn $5,000 to $7,000 per week in combined ETH and card rewards.

Takeaways

• This reinforces ETH's role as the base money and reserve asset for many crypto ecosystems, even those on Layer 2 networks like Base.
• The financial success and reward potential of applications within the Base ecosystem are directly tied to the price of ETH. A rising ETH price increases the dollar value of the rewards, potentially attracting more players.

Investment Theme: Information Finance (InfoFi)

• The founders of Fantasy Top are expanding into a new sector they call "InfoFi" (Information Finance) with a new product called "Clouds."
• The concept is to create an infrastructure that can track, score, and "make sense of the signal versus the noise" for online attention and influence.
• "Clouds" will allow communities to track attention around specific topics or influencers and "democratize the access" to this data, making it more affordable and accessible than competitors.

Takeaways

• InfoFi is presented as an emerging investment theme focused on the financialization of social influence and attention.
• This could be a new, high-growth narrative within crypto, particularly on the Base chain where Fantasy Top is building.
• Investors interested in cutting-edge crypto use cases should monitor the development of "Clouds" and similar platforms that aim to create markets around online attention.