SocialFi seems to have emerged as a new token group receiving significant attention. The attention received is significant enough to warrant seeing it as a potential "flavor of the month" in the upcoming bull market.
But there is a problem.
None of the crypto social media tokens currently receiving attention solve any kind of problem and they entirely revolve around questionable tokenomics. Some with "built in rugs" and thus almost forceful retention of creators.
Where are the responsible influencers?
There are none. Hyped token groups rarely attract them. They come in later. We have all seen the utter failure of StarsArena. No serious voice will put their name behind something like that.
By the time serious coverage is present, unsullied by large influencer payoffs, SocialFi (#SoFi) might be utterly spoiled by the bad actors and failed projects.
It might not get a chance.
What can we do?
Be responsible.
Look for crypto social media projects that solve an actual problem and showcase stability and longevity.
You know what I'm talking about😎.
Posted Using InLeo Alpha
Hive/InLeo crossover into Twitter Spaces has been solid.
The Pump and Hype segment of Social-Fi may be a poor structural match for Hive - since fundamentals are so strong here.
True.
Although Id like to see some concepts explored on Hive as well we have been seeing elsewhere.
I don't see anything else than HIVE.
So true! Hive for the win
Its always good to look at other stuff. you both get to appreciate Hive more and potentially find something beneficial to add to Hive.
Improvement never stops.
In the end Hive will be the only one that remains
I don't know.
We've seen friend.tech and now Stars Arena
Not sure if this SocialFi narrative will make it to the next bull run.
I DO know the hive ecosystem is going to thrive though. Like I've said before, even if $HIVE stays at $0.30 forever, we've already made it. I have a feeling, however, that we'll see demand for hive grow faster than what is put on the market. Price will adjust accordingly.
Its questionable. That is true. They started with scams and failures a bit too early.
I believe if they can get huge investors that believe in their future, they will really become a big thing in the next bull run
Reality is that crypto currency have been projected to be the future of currency.
Instance , seen some large establishment have been making moved towards using blockchain technology basically to manage their database.
Nonetheless , couple of social media would desire to adopt crypto . But nature is far beyond bulls run anticipation.
So embrace good project should indeed be priority.
Thanks for sharing.
That's why I have been in search of so many cryptocurrency projects
They are the next big thing in the world
I agree that the rise of SocialFi tokens demands caution. It's essential to prioritize projects with genuine problem-solving capabilities and sustainable tokenomics.
Relying on hype can lead to unfortunate outcomes, as seen with StarsArena.
Today's news is very important for the market and the way we have seen the crypto market has won after the Aj news and we will see ETFs getting approved after some time. After that the market will go up.