The question is how do these socialfi apps work under the hood
- Friend Tech, Post tech, Friendzy, and lately cipher on ARBITRUM are all socialfi platforms.
When using any of the above-listed socialfi platforms, two main actions take place.
Someone’s either buying or someone’s selling.
I’m fully on board with the overall concept, but obviously, the tech will need to get a lot better.
Creators earn royalties with trading fees, and this is the main incentive for creators.
So, trading fees are what would incentivize creators to keep providing value on the platform. Social profiles need to become markets with staying power that people want to trade. Save to say your network is your worth
The beauty of a SocialFi app on the chain is composability.
what bothers me is revenue comes only from trading fees but not from having more shareholders per se.
So controversial personalities might earn more or even creating FUD will be used as a strategy to earn fees because they know people will speculate.
looking forward to your thoughts about this frens