SocialFi has struggled to gain traction, with platforms resembling digital ghost towns despite their promise to empower users in social media. While the appeal of ownership and monetization is clear, significant technical barriers and user experience challenges hinder mainstream adoption. Current blockchain infrastructures, like Ethereum and Solana, do not meet the demands of high-throughput social networking, leading to frustrating delays and high fees for users. Moreover, the fragmented landscape of Web3, where multiple isolated social networks exist, dilutes user experience and prevents effective interaction. Purpose-built infrastructure designed for social applications is essential for scalability and usability. Improvements to SocialFi should focus on true user-centric networking, implementing portable social graphs, and creating mechanisms for fair monetization for content creators. Successful execution of these changes could help SocialFi realize its potential beyond crypto enthusiasts and provide a legitimate alternative to established platforms.

Source 🔗