Could SocialFi be the new trend in crypto?

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Quote from: coin-score.ai on September 20, 2023, 07:46:11 AM

Do you think SocialFi can be the new trend in crypto? What are the centralized or decentralized projects that will succeed?

SocialFi? New trend in crypto? What is that?

What are the centralized, and decentralized projects that will succeed? Is there any project that's decentralized out there aside from Bitcoin? As for Centralized projects, it's hard to pinpoint TBH because the ones that I might share here can become a scam one day. I know, I know there are some altcoins that are now on the top, and some might say that it will not fail anymore. Just look at Terra Luna I guess. My point is that, any centralized project can become a fail project anytime. Like I said, I will not say any project because most, or I mean all of the projects right now are centralized.

Quote from: coin-score.ai on September 20, 2023, 07:46:11 AM

My opinion is that the technology is still in its infancy and is not sufficiently tested to be reliable and scalable.

https://coin-score.ai/articles/could-socialfi-be-the-new-trend-in-crypto/

Technology is in it's infancy Stage? Reliable? Scalable?

I don't care TBH. I've seen some projects that's main use is to act like a social media platform, but all of them ended up as a fail project. I don't know how these kind of projects will succeed in the long run, and as with your project that you're shilling, good luck I guess, and I just hope that it will gain traction.

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I believe that SocialFi will be the new trend in crypto. I've already heard it being discussed and mentioned on popular social media platforms. I've seen some of the people I follow on Facebook and X talking about friend.tech, but I haven't had a chance to visit it yet.

There's another one, ZeBeDee (ZBD). At first, I only used it to collect lightning sats while playing, but just last week in August, I got off the waitlist and gained access to ZBD Social. It also has an app now available on the Play Store.

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Quote from: Yudhisthir on September 20, 2023, 12:12:45 PM

Quote from: blockman on September 20, 2023, 10:56:52 AM

Quote from: coin-score.ai on September 20, 2023, 07:46:11 AM

Do you think SocialFi can be the new trend in crypto?

I don't think so. There have been a bunch of them in the past but never got the spotlight.

Yes, there were plenty of them and all of them failed. It's even not as easy for defis to stay afloat in this market and a lot of people have moved back to centralized exchanges for their trading needs. In a similar manner, centralized social places generally provide a better service and platform for interaction and exposure. It's like we can make a better looking and fancy alternative to the forum but can't necessarily be able to move the userbase to that site. For a socialFi to success, it should be a good social place to start with. For example, telegram could turn into a socialFi if they carefully take the right steps.

There's a lack of interest from the community if it's about these socialFis. They seem to be optimistically good upon hearing for the first time but it's not really enough at all. They can't work on it completely because the social projects that exist today are hard to beat. There's a need to reengineer these projects if they can't hit the market and interest of the people. And people are wiser today and many think that there's no need for such a new trend in the market because they're not really interesting at all. Maybe a hype from a marketer or influencer will help the project to gain some volume but that's it, from the perspective of being long term, it's afloating.

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The new concept is gradually popularized and many people are hyped about it, there are also a few names that are implementing development plans or in another view, building future trends. It's just a small niche in the next trend of the market, and the basic problem is still building infrastructure on the ecosystem and the products that operate on it will research what to do on their own. to fit that context. It may sound a bit crude, but I personally think SocialFi is not much different from the hyped memecoins, encouraging users to participate with certain promises, and this playground needs time to test.

Husires

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Quote from: coin-score.ai on September 20, 2023, 07:46:11 AM

Do you think SocialFi can be the new trend in crypto? What are the centralized or decentralized projects that will succeed?

My opinion is that the technology is still in its infancy and is not sufficiently tested to be reliable and scalable.

https://coin-score.ai/articles/could-socialfi-be-the-new-trend-in-crypto/

Never heard of it. Are you trying to promote them or your article, or are you looking for honest reviews because this is not a project that is highlighted for free? Merging social media with decentralized finance (DeFi) is a bad idea because social media requires some kind of conditions of use and the ability to delete data, which are things that are not available in the blockchain. It also requires hundreds of terabytes every week, and blocks are mined in megabytes.

the idea was not explained well enough, and suddenly they moved on because they wanted to create NFTs. It is a project to collect vocabulary that is repeated frequently, and it is not a project that has a future.

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Never heard of it.
Maybe because it's just like what you said, it's still a baby. Well, let's not expect too much out of a new project that is circling social media because we have seen a lot that has failed although they hit the trend. Yeah, sounds like a pessimistic point of view coming from me but that's because I have learned my lesson through experience. I have bought different DeFi project coins and NFTs and am still unlucky to have a good investment that I can say is one of the gems in that section.
Some of them I was on the right time to sell and now they are dust while others ended up as a rugpull project. So, better be careful at where we will put our money in.

iv4n

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Well, many "social crypto" projects until now were a complete disaster... I tried a few early projects, and they all ended up dead. So could SocialFi be the next trend in crypto it's a big question, I am not sure, all I can say is that I am a bit skeptical about that. But it's 2023, and things are not like they used to be.

I am open to new things, and I would like to see some examples of SocialFi sites, but in this article, I didn't see any sites. Can anyone share some SocialFi sites?

wheelz1200

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Who knows but every cycle has its own trends and they usually are just that, trends. They don't last long and should be taken very carefully in terms of buying in. When something is trendy scammers usually flock to it under the guise that they are on the cutting edge of whatever it is. Steer clear of these pop up trends and you shoukd be fine.

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Quote from: coin-score.ai on September 20, 2023, 07:46:11 AM

Do you think SocialFi can be the new trend in crypto? What are the centralized or decentralized projects that will succeed?

I thinking it could be the next or the one slowly havung attention from projects like ts, friend tech, and tipcoin all of it encourage be active on social media specifically twitter. So I guess if this extended or expanded by new ones or those I mentioned surely socialfi could be a great trigger for bull run. Thats still depend on the hype and trend but there are some failures too but thats fine we will see if socialfi, metaverse or defi will still be the game changer on incoming bull run.

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Quote from: blockman on September 20, 2023, 10:56:52 AM

Quote from: coin-score.ai on September 20, 2023, 07:46:11 AM

Do you think SocialFi can be the new trend in crypto?

I don't think so. There have been a bunch of them in the past but never got the spotlight.

Yes, there were plenty of them and all of them failed. It's even not as easy for defis to stay afloat in this market and a lot of people have moved back to centralized exchanges for their trading needs. In a similar manner, centralized social places generally provide a better service and platform for interaction and exposure. It's like we can make a better looking and fancy alternative to the forum but can't necessarily be able to move the userbase to that site. For a socialFi to success, it should be a good social place to start with. For example, telegram could turn into a socialFi if they carefully take the right steps.

blockman

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Quote from: coin-score.ai on September 20, 2023, 07:46:11 AM

Do you think SocialFi can be the new trend in crypto?

I don't think so. There have been a bunch of them in the past but never got the spotlight.

Quote from: coin-score.ai on September 20, 2023, 07:46:11 AM

What are the centralized or decentralized projects that will succeed?

We don't know, there are a lot of them but when we ask which of them are going to succeed. It's hard to tell. Because that will still depend on the response of the market and the community that's out there and that's us.

Quote from: coin-score.ai on September 20, 2023, 07:46:11 AM

My opinion is that the technology is still in its infancy and is not sufficiently tested to be reliable and scalable.

No doubt about that and there will be more trends but it's just that we don't know what's next.

coin-score.ai

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Do you think SocialFi can be the new trend in crypto? What are the centralized or decentralized projects that will succeed?

My opinion is that the technology is still in its infancy and is not sufficiently tested to be reliable and scalable.

https://coin-score.ai/articles/could-socialfi-be-the-new-trend-in-crypto/

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