Since the launch of Friendtech last year, the development of social track projects has begun to accelerate. We firmly believe that in the next few months, we will see many breakthrough social applications released one after another.
While we are excited, we also introduce these projects to you. Friends who are interested in the social track should not miss today's article.
Connecting crypto users through social protocols is usually accompanied by financial incentives and speculation, which leads to the term "SocialFi".
Current SocialFi projects are mainly divided into the following categories:
Finance-driven
Utility-driven
Infrastructure
Friendtech is a social transaction protocol that allows creators to monetize their content and earn a share of the fees.
It is a key example of achieving virality through GTM (market entry strategy) and user retention strategies such as points, bond curves and referral mechanisms.
（https://x.com/friendtech/status/1696599323637846444）
Fantasy on Blast uses a similar concept but introduces gamification elements through cards and tournaments.
Both protocols were very successful in their early stages, generating more revenue than most protocols.
However, these protocols also have some trade-offs.
（https://x.com/0xjaypeg/status/1789742413457637833）
As the number of users increases, the entry threshold increases rapidly
Users are too concerned about airdrops to recover their initial capital
Sustainability of incentives
Therefore, while this strategy is great for project launches, we have not yet seen its durability in terms of growth.
Protocols driven by practicality usually provide stronger playability, low user participation threshold, and do not require a large amount of upfront investment.
In addition to crypto-related cases such as paid chat and identity verification, we are more excited about protocols that challenge traditional platforms.
Infomon aims to decentralize algorithms through a game-like experience, where users can train their own algorithms by feeding tweets to AI pets.
It can provide better content for each user, enhance the influence of individual creators, and reduce noise.
（https://x.com/Infomon_ai/status/1789943144978551102）
Combining traditional social elements and on-chain data, and presenting it in the form of social information flow, 0xppl is redefining "social" for crypto natives.
0xppl improves the readability and recognizability of on-chain operations, which was not possible before.
（https://x.com/0xppl_）
Social networks such as Farcaster and Lens have laid the foundation for the development of this field.
Farcaster's Frames took the crypto Twitter circle by storm when it was launched in February this year, and since then we have seen the use cases and builders in the ecosystem strengthen.
（https://x.com/DWFVentures/status/1754358837627519093）
As the number of social networks increases, interoperability becomes important.
Developers can achieve this using Tako's SDK, which is neutral to social networks and provides content planning/monetization APIs. Jamfrens is using Tako to build the protocol.
（https://x.com/TakoProtocol）
We believe that the following factors will be key to future social protocols:
Sustainable incentives
Strong practicality
Interoperability
OpenSocial is at the forefront of a transformative wave in the digital world, offering a multi-chain SocialFi infrastructure that provides a truly scalable and composable protocol for web3 users, creators, and developers.
WilfredSolana’s “Actions and Blinks” simplify transactions and voting operations through browser extensions, while Farcaster on Ethereum enhances social network interoperability and user data privacy protection through decentralized protocols.
JinseFinanceFrom friend.tech to fantasy.top, SocialFi is losing users.
JinseFinanceFrom the perspective of social network forms, Farcaster and UXLINK have relatively stronger social attributes, which can enable the entire economy to maintain sufficient resilience.
JinseFinanceFarcaster is a decentralized social media protocol that provides an open and composable social layer for developers, creators, and ordinary users.
JinseFinanceCryptocurrency users are increasingly turning their attention to the new SocialFi app, but analysts say it may be too early to tell whether "SocialFi season" has arrived.
JinseFinanceOverall, the V2 update provides a better user experience and a comprehensive environment.
JinseFinanceThe market value of SocialFi tokens is only US$1.7 billion, accounting for one thousandth of the total market value of cryptocurrency, which is far lower than mainstream tracks such as GameFi and NFT. At the same time, the SocialFi track has not yet seen a real killer or dominant application, and is still in its early stages. .
JinseFinancexKingdom combines SocialFi and GameFi, offering kingdom building, hero upgrades, Twitter rewards, and a multifaceted earning ecosystem.
BrianInitial findings from blockchain monitoring platform Peckshield point towards a reentrancy attack on Stars Arena's "Shares" contract.
Davin